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.

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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.........

Wednesday, January 15, 2014

EU and Gazprom...[ 3355 ]

EU Still Preparing Formal Complaint in Gazprom Antitrust Case

January 15, 2014, 8:53 a.m. ET / By Vanessa Mock/ The Wall Sttreet Journal

BRUSSELS--The European Union is still drafting a formal antitrust complaint against Gazprom OAO (GAZP.RS), despite settlement talks with the Russian energy company, the EU's antitrust chief Joaquin Almunia said Wednesday.

"We are working on a statement of objections," Mr. Almunia told reporters in Brussels, referring to a formal complaint by the European Commission. Such a move would trigger the start of a legal process that could lead to hefty fines for the state-owned energy company.
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Gazprom submitted draft proposals to EU regulators about its pricing and other practices last month, after Mr. Almunia signaled that he was running out of patience. Those proposals followed a meeting between the EU's competition commissioner and Gazprom chief Alexander Medvedev on Dec. 4. Mr. Almunia had initially sounded optimistic about the hopes of resolving the case, describing talks as "constructive."
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But in a change of tone Wednesday he said: "But so far the option, Plan A, is to continue working on a [formal complaint]."
The EU launched a high-profile probe into Gazprom in September last year, after raids on the company's offices in September 2011.
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Days after the EU announced its investigation, the Kremlin fired back with a decree preventing the company from disclosing information to foreign regulators without government permission.
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Under EU antitrust rules, a company can offer concessions aimed at addressing the EU's concerns, which Brussels can then decide to make legally binding on the company. Those so-called "commitments" don't imply wrongdoing by the company and are a way of settling a case without imposing fines.
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Write to Vanessa Mock at vanessa.mock@wsj.com
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