Spanish PM to brief parliament on bailout termsJuly 11, 2012 - 13:35 AMT PanARMENIAN.Net - Spain’s Prime Minister Mariano Rajoy is appearing in parliament to explain the conditions European Union partners have demanded in exchange for an emergency bailout of Spain's troubled banks, AP reports. He is also likely to announce new austerity measures demanded as part of the deal. Spain's 16 eurozone partners agreed to make up to €100 billion ($122.9 billion) available in a rescue package for Spanish banks laden with toxic assets following the bursting or a real estate bubble with the onset of the international financial crisis in 2008. Rajoy has already approved a series of tough financial and labor reforms since taking office last December. New measures being studied include a raise in taxes on goods and an increase in working hours and the scrapping of a customary Christmas payment for civil servants. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Seven injured in massive gas station explosion in Armenia The Investigative Committee of Armenia has unveiled details about a massive explosion at a gas station on the Yerevan-Sevan highway. Pashinyan’s spokesperson denies intention to visit Baku for COP29 Pashinyan’s agenda doesn’t include a trip to Baku for the COP29 conference, his press secretary Nazeli Baghdasaryan has said. Russia accuses West of preparing invasion of CSTO countries NATO is preparing an invasion of the CSTO countries, the number of provocations in the air is growing, Sergei Shoigu has said. Lithuania sending €100,000 to help Armenia fight floods consequences Armenian Prime Minister Nikol Pashinyan took to social media to thank his Lithuanian counterpart for the contribution. |