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.........

Monday, November 26, 2012

Greece and U.S. stock-market ..[ 3005 ]

Greece, Fiscal Cliff Weigh on U.S. Stock Futures

 Photo: Wall street sinks on fiscal cliff fears

 The major stock indexes were down over 2 percent in the wake of the US presidential elections. The Dow Jones industrial lost more than 300 points. The American indexes closed at their lowest levels since early August. The stock exchanges in Europe had experienced similar steep falls.
Oil prices fell 4 percent. Brent crude is trading at 107.80 and New York crude is back below USD 85 a barrel.  
 The Euro plunged hundred points and continues down in early Asian trade at 1.2750.  Japanese yen is strengthened against the green back at 79,85. Precious metals have fluctuated heavily during the start of the week. Gold now is trading at 1715. 
 In Athens Greek police fired teargas and water cannon at protesters hurling petrol bombs outside parliament in one of the biggest rallies in months against new austerity measures.  Parliament approved the austerity measures by a razor thin margin in a heated debate into Thursday morning.

Read more on http://uwcfx.com/en/market-reviews/marketreview-2693.html
November 26, 2012, 6:09 a.m. ET
U.S. stock-market futures headed lower on Monday, with investors focusing on continued negotiations over the so-called fiscal cliff and discussions among euro-area finance ministers over the next tranche of Greek aid.
No major economic data are on the agenda.
About three hours before the start of trading, futures for the Dow Jones Industrial Average  fell 54 points, or 0.4%, to 12907, while those for the Standard & Poor's 500 index  eased 6.7 points, or 0.5%, to 1398.60. Futures for the Nasdaq-100 index  fell 10 points, or 0.4%, to 2624.25. Changes in futures don't always accurately predict early market moves after the opening bell.
"We could see U.S. markets start positively, but they're a bit nervous about Greece," said Henrik Drusebjerg, senior strategist at Nordea Bank NDA.SK -0.33% . He said prospects for a so-called Santa Claus rally lie in the hands of global politicians.
The Dow Jones Industrial Average rose 1.4% on Friday, its first close above 13000 since Election Day on Nov. 6. The index netted a 3.4% weekly gain, and the Standard & Poor's 500 index rose 3.6%.
Later on Monday, European finance ministers will meet to try and OK the latest aid payment to Greece, after failing to agree last week with the International Monetary Fund over those conditions.
"It's far too early to say that's irrelevant," said Mr. Drusebjerg. "Most investors are hoping for a deal today that will kick the can more than three months down the road."
"Without agreement on how to reduce the debt, euro-zone ministers and the IMF do not want to resume payments of loan tranches to Athens, even though Greece has met all the conditions, because they have no guarantee on whether the need for emergency financing will ever end," added Max Cohen, financial sales trader at SpreadEx, in emailed comments.
U.S. politics make up the other focus for investors. Lawmakers will return to Washington, for a three-week session after the long Thanksgiving holiday weekend. Some Republican lawmakers reportedly said over the weekend that they are ready to break a long-standing promise not to raise taxes.
And leading Democratic Sen. Richard Durbin, speaking on ABC's "This Week" program on Sunday, also was guardedly optimistic about a deal.
"It's a step towards a solution," said Mr. Drusebjerg. "There's now also movement from the Democrats. It's some part of a sign they're willing to work together."
He said that markets got a lift last week on signs that consumers were actively spending on Black Friday.
"That's given some hope that Christmas shopping this year will be a lot better than expected, and that could be a pickup for the U.S. economy," he said. But he said failure on the part of U.S. politicians over the fiscal cliff or European politicians regarding Greece could stymie economic growth.
While no major economic data are on the calendar for Monday, retailers could be in focus again after reports that a record number of consumers were out in force over the holiday shopping weekend.
The Monday after Thanksgiving—known as Cyber Monday—is also a key day of shopping for the e-commerce world, with one analysis suggesting sales could hit $1.5 billion.
In other markets, European stocks weakened ahead of the Greece talks, and after weekend elections in Spain, which were won by Catalonian separatists. Oil and gold prices also fell.
Risk aversion drew investors to the dollar, though.

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