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.........

Friday, May 28, 2010

Spanish ''cost - cutting plan "....[ 1211 ]

Spanish politicians approve 15bn-euro austerity plan

Spanish Prime Minister Jose Luis Rodriguez Zapatero addressing
parliament, 12 May 2010

Refusal to approve the package would have been a blow to Prime Minister Zapatero

BBC Thursday, 27 May 2010 11:51 UK

The Spanish parliament has backed a 15bn-euro ($18.4bn; £13bn) austerity package by one vote as the country strives to cut its budget deficit.

The vote saw 169 in favour of the Socialist government's austerity plan and 168 against, with 13 abstentions.

Spain announced the austerity package earlier this month. It includes wage cuts of 5% or more for civil servants and slashes public investment plans.

Spain hopes to rein in its deficit and ease fears of a Greek-style crisis.

'Calming'

A parliamentary defeat would have been a blow to the Socialist government of Prime Minister Jose Luis Rodriguez Zapatero.

Spain's programme is intended to reduce a deficit of 11% of GDP to 6% by 2011.

"The result is calming for the markets because a vote against would have been very worrying," said Jose Luis Martinez, a strategist at Citigroup.

"But the small margin is worrying considering what Spain is facing."

'Painful but inevitable' Many Spaniards fear the effect the cuts will have on the economy, where the unemployment rate exceeds 20% - twice the eurozone average.

SPANISH COST-CUTTING PLAN

5% average pay cut for public workers in 2010
Payout scrapped to parents for birth of children
Automatic inflation-adjustments for pensions suspended
Funding to regions cut by 1.2bn euros

The country moved out of recession in the first quarter of this year, with growth of 0.1%.

The European Union has been anxious to see more fragile European economies, including Spain, Portugal and Greece, impose tougher austerity measures.

Before the vote, finance minister Elena Salgado had asked politicians to vote in favour, saying the measures were "painful but inevitable".

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