The Hellenic Navy (HN) (Greek: Πολεμικό Ναυτικό, Polemikó Naftikó, abbreviated ΠΝ) is the naval force of Greece, part of the Greek Armed Forces. The modern Greek navy has its roots in the naval forces of various Aegean Islands, which fought in the Greek War of Independence. During the periods of monarchy (1833–1924 and 1936–1973) it was known as the Royal Navy (Βασιλικόν Ναυτικόν, Vasilikón Naftikón, abbreviated ΒΝ).The total displacement of all the navy's vessels is approximately 150,000 tons.The motto of the Hellenic Navy is "Μέγα το της Θαλάσσης Κράτος" from Thucydides' account of Pericles' oration on the eve of the Peloponnesian War. This has been roughly translated as "Great is the country that controls the sea". The Hellenic Navy's emblem consists of an anchor in front of a crossed Christian cross and trident, with the cross symbolizing Greek Orthodoxy, and the trident symbolizing Poseidon, the god of the sea in Greek mythology. Pericles' words are written across the top of the emblem. "The navy, as it represents a necessary weapon for Greece, should only be created for war and aim to victory."...............The Hellenic Merchant Marine refers to the Merchant Marine of Greece, engaged in commerce and transportation of goods and services universally. It consists of the merchant vessels owned by Greek civilians, flying either the Greek flag or a flag of convenience. Greece is a maritime nation by tradition, as shipping is arguably the oldest form of occupation of the Greeks and a key element of Greek economic activity since the ancient times. Nowadays, Greece has the largest merchant fleet in the world, which is the second largest contributor to the national economy after tourism and forms the backbone of world shipping. The Greek fleet flies a variety of flags, however some Greek shipowners gradually return to Greece following the changes to the legislative framework governing their operations and the improvement of infrastructure.Blogger Tips and Tricks
This is a bilingual blog in English and / or Greek and you can translate any post to any language by pressing on the appropriate flag....Note that there is provided below a scrolling text with the 30 recent posts...Αυτό είναι ένα δίγλωσσο blog στα Αγγλικά η/και στα Ελληνικά και μπορείτε να μεταφράσετε οποιοδήποτε ποστ σε οποιαδήποτε γλώσσα κάνοντας κλικ στη σχετική σημαία. Σημειωτέον ότι παρακάτω παρέχεται και ένα κινούμενο κείμενο με τα 30 πρόσφατα ποστς....This is a bilingual blog in English and / or Greek and you can translate any post to any language by pressing on the appropriate flag....Note that there is provided below a scrolling text with the 30 recent posts...Αυτό είναι ένα δίγλωσσο blog στα Αγγλικά η/και στα Ελληνικά και μπορείτε να μεταφράσετε οποιοδήποτε ποστ σε οποιαδήποτε γλώσσα κάνοντας κλικ στη σχετική σημαία. Σημειωτέον ότι παρακάτω παρέχεται και ένα κινούμενο κείμενο με τα 30 πρόσφατα ποστς.........

Friday, February 10, 2012

New Conditions for Greek Bailout...[ 2690 ]

Eurozone Sets New Conditions for Greek Bailout

  Financial crisis in Greece


BRUSSELS, February 10 (RIA Novosti)

Eurozone finance ministers on Thursday night agreed to attach additional conditions to Greece’s 130-billion-euro bailout deal and postponed the final decision until next Wednesday, the meeting’s chairman said on Friday.
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Finance ministers from the 17 euro countries met on Thursday night in Brussels for discussions on the bailout package for Greece, which is teetering on the brink of financial collapse.
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“We did not have all the elements necessary for making decisions on the table today,” Jean-Claude Juncker, who chaired the meeting, said.
He named three requirements for Greece to secure the bailout: firstly, Greece needs additional 325 million euro ($432 million) in savings for 2012, secondly, the Greek parliament will have to pass the package of cuts and reforms and thirdly, Greek political forces should guarantee that the austerity measures will continue to be implemented regardless of the outcome of April’s elections.
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“The final decision will be taken next week. The Eurogroup is to convene on Wednesday, it will be made if Greece complies with the terms,” Juncker said.
The announcement comes hours after Greek political leaders finally struck a deal on new austerity measures demanded by creditors to secure a 130-billion euro bailout to avoid default and keep the country afloat. The deal included pension and wages cuts.
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The troika of international lenders comprising the European Central Bank, the European Commission and the International Monetary Fund demanded from Greece to introduce pension budget cuts as well as to cut additional income in private sectors, to reduce minimal wages and insurance payments.
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Greece has been receiving financial support from the EU and the IMF since May 2010 to reduce the country's large budget deficit. However, the austerity measures approved by the government have sparked numerous riots and strikes, and the Greek government has missed its targets.
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