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.........

Sunday, March 24, 2013

Cyprus has only hard choices left,...[ 3070 ]

Cyprus has only hard choices left, says EU's Olli Rehn

-BBC / 24 March 2013 Last updated at 01:46 GMT

Bank employees and people with high savings are angry over some of the terms proposed
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Cyprus has only "hard choices left" and must agree terms on Sunday for a crucial bailout for its ailing banks, the EU's commissioner for economic affairs Olli Rehn says.
Mr Rehn said there were no longer any "optimal solutions" and that Cyprus's near future "will be very difficult".
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Talks with the EU and IMF continued throughout Saturday in Nicosia.
Cyprus needs their approval in order to present a rescue plan to eurozone ministers in Brussels later on Sunday.
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The eurozone is offering a 10bn-euro (£8.5bn; $13bn) loan but insisting that Cyprus raise 5.8bn euros before Monday to secure it.
A previous agreement that included a levy on deposits in Cypriot banks was rejected by the country's parliament last Tuesday.


If a deal on an alternative agreement fails, the European Central Bank (ECB) says it will cut off funds to the banks, meaning they would collapse, possibly pushing the country out of the eurozone.
Cypriot leaders are struggling to agree how to raise the money but the BBC's economics correspondent Andrew Walker in Brussels says they appear to be moving towards some sort of contribution from banks' customers.
Exactly what form that will take is still undecided, he adds.
On Saturday Cypriot Finance Minister Michael Sarris was quoted as saying that Cyprus was considering a 25% levy on deposits of more than 100,000 euros (£85,000) in its biggest bank.
He said talks with EU and IMF officials had made "significant progress".
Mr Rehn said the European Commission was working hard to bring about a solution.
"It is essential that an agreement is reached by the eurogroup on Sunday evening in Brussels on a financial assistance programme for Cyprus," he said.
"This agreement then needs to be swiftly implemented by Cyprus and its eurozone partners. Unfortunately the events of recent days have led to a situation where there are no longer any optimal solutions available. Today there are only hard choices left."
He said that support from Europe could help to protect the most vulnerable people in Cyprus from the effects of the financial crisis.
"It is clear that the near future for Cyprus will be very difficult," he said.
"But Cyprus and the Cypriot people are a part of the European family. The European Union stands by them and will help to rebuild the Cypriot economy."
Banks in Cyprus have been closed since Monday and many businesses are only taking payment in cash.
On Saturday afternoon more than 1,000 bank employees marched to the Cypriot finance ministry, stopping briefly at the presidential palace.
Marchers held placards with slogans such as "No to the bankruptcy of Cyprus" and chanted "United we cannot be defeated".
Last Tuesday, Cyprus's parliament overwhelmingly rejected a levy that would have made small savers pay 6.75%, while larger investors would have paid 9.9%.
The proposal had provoked widespread anger among both ordinary savers and large-scale foreign investors, many of them Russian.
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Analysis

image of Andrew Walker Andrew Walker BBC World Service economics correspondent
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The stakes are very high for Cyprus. If there is no agreement, the European Central Bank says emergency loans keeping the Cypriot banks afloat will be cut off after Monday.
They would be unable to operate. If it really came to that, Cyprus would probably have to issue its own currency - and not the euro - to maintain a functioning banking system. But it won't come to that if Cyprus can convince the rest of the eurozone that it will implement a package that's capable of raising the money they - the eurozone - think is needed.
There are some voices saying Cyprus should give up the euro. But the government is pulling out the stops to avoid that. Will it be enough to convince Germany, Finland and the other countries with voters weary of bailouts? It looks as though a long night beckons in Brussels.
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