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.........

Saturday, June 28, 2014

Bulgarian bank system under attack..[ 4181 ]

Bulgarian bank system under attack, says central bank

BBC ||  27 June 2014 Last updated at 13:55 GMT

People queue in front of a branch of Bulgaria"s First Investment Bank in Sofia on June 27, 2014
Queues are forming outside banks including First Investment Bank in Sofia
 
Bulgaria's central bank has said there has been a systematic attempt to destabilise the country through attacks on the banking system.
It said it would use all powers at its disposal to protect citizens' savings.
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Shares in Bulgarian banks fell sharply for the second day in a row.
These is speculation that a run on deposits at the country's fourth-biggest bank, Corporate Commercial Bank, could spread to others.
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The central bank took control of Corporate Commercial Bank last week and said its problems were isolated. Economists and Fitch Ratings agency have also played down the risk of contagion, while foreign banks with subsidiaries in Bulgaria insist their operations are safe.
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But comments by a deputy from the country's ruling party on Thursday that another bank may suffer a similar fate further hit confidence and left investors rushing to ditch Bulgarian bank stocks.

'Ill-intentioned rumours' "In recent days there has been an attempt to destabilise the state through an organised attack against Bulgarian banks without any reason," the central bank said in a statement.
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The central bank urged all state institutions to work together to protect financial stability and take legal action against those spreading "untrue and ill-intentioned rumours" about the health of Bulgaria's banks.
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Shares in First Investment Bank plunged 23% on Friday. Other bank shares also declined.
"The whole banking sector is being sold off due to the problems around Corporate Bank. Investors are worried the problems can spread," said Boyan Gatsev, a trader with Varchev Finance. 
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First Investment Bank said on Friday it would close its branches at 12:00 GMT and remain closed until Monday after depositors withdrew 800m lev (£328m) of funds in a matter of hours.
Separately, Bulgaria set 5 October as the date for a snap parliamentary election. 
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Prime Minister Plamen Oresharski's minority government agreed to resign earlier this month after the biggest party in his coalition, the Socialists, performed badly in May's European elections.
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