Greek PM says country can return to growth within18 monthsJuly 24, 2012 - 14:52 AMT PanARMENIAN.Net - Greece's Prime Minister says the country's economy could contract by more than seven percent this year, but can return to growth within 18 months, according to the Associated Press. Antonis Samaras also says he hopes to reduce unemployment from a record high of nearly 24 percent to 10 percent by the end of his four-year term in office. Samaras spoke to his conservative party lawmakers Tuesday, July 24 as representatives of Greece's bailout creditors met officials in Athens as part of their assessment of the country's austerity and reform commitments. Debt-crippled Greece depends on rescue loans from its European partners and the International Monetary Fund. But if it fails to meet pledges for cutbacks and reforms, the cash lifeline could be cut, forcing the country to default on its obligations and potentially abandon the common European currency. 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 | Armenia-Azerbaijan: Turkey wants deal after “positive developments” Turkey hopes “positive developments” in negotiations between Armenia and Azerbaijan will lead to an agreement. Police try to impede Armenian Church head’s access to war memorial Police tried to stop the supreme head of the Armenian Apostolic Church, Catholicos Karekin II, from visiting a war memorial. Greece says ready to help as Armenia fights flooding consequences Greece is ready to assist Armenia in combatting the consequences of deadly floods in the country’s north. “He will leave”: Protest leader no longer demands meeting with Pashinyan Archbishop Bagrat Galstanyan no longer demands a meeting with Armenian Prime Minister Nikol Pashinyan. |