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Athens News Agency: News in English, 11-04-15

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Ambitious econ reforms for 2012-2011 unveiled
  • [02] Papanikolis debut at Salamina naval station
  • [03] Greek, Russian FMs meet 

  • [01] Ambitious econ reforms for 2012-2011 unveiled

    (ANA-MPA) -- A closely watched Medium-term Fiscal Strategy Framework, presented by Finance Minister George Papaconstantinou, envisages measures worth 3.0 billion euros this year and a total 26 billion euros by 2015.

    Presenting the plan, Papaconstantinou said the 3.0 billion euros in interventions envisaged for this year would cover all risks and divergence existing in a fiscal consolidation program, while the remaining 23 billion euros (9.0 billion from higher revenues and 14 billion euros from spending cuts) will help in cutting the country's fiscal deficit by 14.5 billion euros since 8.5 billion euros is needed on interest spending. (ANA-MPA)

    The finance minister said the state expects revenues worth 15 billion euros from privatizations and exploiting the state's real estate property in the period 2011-2013, and a total of 50 billion euros by 2015. This revenue will be used to cut the public debt by an additional 20 percent of GDP by 2015. (ANA-MPA)

    The Medium-term framework is expected to be approved in Parliament in May and the new legislation will envisage budget projections, fiscal interventions to achieving goals, annual spending ceilings for each government ministry and targets, long-term projection of public debt, intervention plans in public sector enterprises, abolition-merger of state agencies, combatting tax evasion, civil administration and a new payroll, social spending, public spending and defense spending. (ANA-MPA)

    More details on the subscriber's page of ANA-MPA | Subscription request form


    [02] Papanikolis debut at Salamina naval station

    (ANA-MPA) -- The wait for its arrival lasted more than four years, while it became a "target" long before its first submersion. The waiting is now over, as the 214-type "Papanikolis" (S120) class submarine, the new acquisition of the Hellenic Navy, arrived four months ago at the Salamina Naval Station near Piraeus.

    Another three submarines under the names "Pipinos", "Matrozos" and "Katsonis" will be delivered by next year.

    The new Papanikolis-class submarine was built by German's HDW and was commissioned for active duty in the Hellenic Navy during a ceremony held in Kiel, Germany on Oct. 27, 2010.

    The "Papanikolis" (S120) is the third submarine in the history of the modern Greek navy named after a legendary WWII submarine. Being the first submarine of its kind that was designed worldwide, it was scheduled to be the first to be delivered in 2005, instead it became part of the Greek naval force with a delay of four-and-a-half years due to high-profile technical problems that were subsequently resolved.

    Three submarines of this type already serve in the navy of Korea and one in Portugal, while six have been ordered by the Turkish navy.

    Caption: A view of the new submarine docked off the island of Salamina on Friday, April 15, 2011. ANA-MPA / STR

    More details on the subscriber's page of ANA-MPA | Subscription request form


    [03] Greek, Russian FMs meet

    BERLIN (ANA-MPA / G. Pappas) -- The excellent level of bilateral relations between Greece and Russia was confirmed by foreign ministers Dimitris Droutsas and Sergey Lavrov who met here on Friday.

    The brief meeting was held on the sidelines of the NATO-Russia Council in Berlin during which the two ministers expressed their common will to boost bilateral cooperation. They also agreed to continue consultations in the imminent visit of the Greek FM to Moscow.

    More details on the subscriber's page of ANA-MPA | Subscription request form

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