German cabinet passes strict budget for 2011 | Germany | Deutsche Welle | 07.07.2010. With controversial cuts to social and family services, the 2011 budget was approved by the German cabinet on Wednesday. The budget sets total spending at 307.4 billion euros ($385 billion). As part of a strict austerity program set out by Chancellor Angela Merkel's government, the budget reduces public spending by 11 billion euros, a 3.8 percent decrease over 2010. The government, a coalition of Merkel's Christian Democrats (CDU) and the pro-business Free Democrats, wants to further cut spending down to 301 billion euros by 2014. Finance Minister Wolfgang Schaeuble is aiming to reduce Germany's new borrowing to 57.5 billion euros in 2011, down from 65.2 billion euros this year. Schauble defended the cuts as he presented the plans Wednesday, saying there was no other alternative to tightening the purse strings. "(With this budget) we are on a path that will reduce deficits that are too high," the minister said.
Budget hurts 'weak' Ireland GDP Data & Country Report. Italy. More information about Italy is available on the Italy Page and from other Department of State publications and other sources listed at the end of this fact sheet. The United States established diplomatic relations with Italy in 1861 following the unification of most of the peninsula into one state. In 1941, Italy -- with the other World War II Axis powers Germany and Japan -- declared war on the United States. U.S. relations with Italy were reestablished in 1944.
Today, the United States and Italy enjoy warm and friendly relations. The United States and Italy are North Atlantic Treaty Organization (NATO) allies and cooperate in the United Nations, in various regional organizations, and bilaterally for peace, prosperity, and security. U.S. Bilateral Economic Relations The United States and Italy cooperate closely on major economic issues, including within the G-8. Bilateral Representation The U.S. Greece. More information about Greece is available on the Greece Page and from other Department of State publications and other sources listed at the end of this fact sheet. The United States appointed its first Consul to Greece in 1837, following Greece’s independence from the Ottoman Empire, and established diplomatic relations with Greece in 1868. After World War II, the United States contributed hundreds of millions of dollars to rebuild Greece’s buildings, agriculture, and industry as part of the Marshall Plan.
Today, an estimated three million Americans resident in the United States claim Greek descent. This large, well-organized community cultivates close political and cultural ties with Greece. Greece is an important partner of the United States on many policy priorities. Greece occupies a strategic location in the Eastern Mediterranean on the southern flank of the North Atlantic Treaty Organization (NATO). U.S. Bilateral Economic Relations Bilateral Representation The U.S. INVEST IN GREECE. As the world addresses diverse and challenging questions related to energy production and supply, Greece is in a pivotal position to chart its energy future, emerging as a strategic energy hub in Southeast Europe and a desirable location for investment.
A Sustainable InvestmentThe energy policy of Greece favours major private sector investment. It is estimated by the World Bank that investment of more than 30 billion Euro will be required by 2020 in the upgrade and building of power plants, in transmission and distribution, and in renewable energy sources (RES). Greece’s comprehensive energy policy, to establish sustainable, competitive, and secure sources of energy, has established an encompassing regulatory and market framework for the energy sector.
This, in combination with Greece’s wide-ranging investment regulatory framework, provides for exceptional opportunities for investment in a number of areas. Energy Kids - Geothermal. File Scrub 1 ::::: EE ... geothermal_home-basics Geothermal Basics What Is Geothermal Energy? The word geothermal comes from the Greek words geo (earth) and therme (heat). So, geothermal energy is heat from within the Earth. We can recover this heat as steam or hot water and use it to heat buildings or generate electricity. Geothermal energy is a renewable energy source because the heat is continuously produced inside the Earth.
Geothermal Energy Is Generated Deep Inside the Earth Geothermal energy is generated in the Earth's core. The core itself has two layers: a solid iron core and an outer core made of very hot melted rock, called magma. The Earth's crust is broken into pieces called plates. People around the world use geothermal energy to heat their homes and to produce electricity by digging deep wells and pumping the heated underground water or steam to the surface. File Scrub L3 ::::: EE ... geothermal_home-basics ... geothermal_where-basics Where Geothermal Energy is Found U.S. What happens if Greece leaves the euro? | Politics. 9.01am: The Greek prime minister George Papandreou's pledge to put the bailout package for his country's beleaguered economy to a referendum has thrown the eurozone into crisis and will dominate today's G20 meeting in Cannes.
Overnight, the question of the bailout deal has morphed into a more fundamental question about Greece's membership of the eurozone. Angela Merkel (left), the German chancellor, and Nicolas Sarkozy, the French president, have issued an ultimatum to Greece to agree the deal or leave, making it clear that they would favour insulating other vulnerable and larger economies such as Italy over throwing everything at saving Greece. Merkel said last night: We would rather achieve a stabilisation of the euro with Greece than without Greece, but this goal of stabilising the euro is more important.
The odds that they will be gone from the euro within a few years are very high. No country has every left the euro before and there are no provisions about how they might go about it. What happens if Greece defaults? | Investing. Fears that Greece will default on its debt continue to roil financial markets on Monday. Below, we assess the impact if the struggling Mediterranean country does succumb. If Greece defaults will they remain part of the euro? “The talk of Greece being booted out of the eurozone will probably escalate,” Marc Ostwald, foreign exchange strategist at Monument Securities Ltd. in London, England.
“Once it’s defaulted, and given the likelihood of a seismic impact, I can’t really see anything else happening.” Lena Komileva, global head of G10 currency strategy at Browns Brothers Harriman & Co. in London, England, agrees the odds of a Greek exit are high. “A Greek default would bring back the risk of euro breakup,” she said.Can Greece be forced out of the euro? Mr. “And this is where it becomes inordinately complicated. He says a Greek default would prompt the rest of the euro area to come up with a plan for restructuring, one he’s not sure the Greek population would accept. What about the currency? Greece: why did its economy fall so hard? Greece GDP Data & Country Report. International Monetary Fund Home Page. WSJ: German Smart Trade and Invest.
The New York Times > Member Center > We're Sorry. Europe’s Two Years of Denials Trapped Greece. Europe’s Two Years of Denials Trapped Greece. How EU decisions are made. Drafting EU law Before the Commission proposes new initiatives it assesses the potential economic, social and environmental consequences that they may have. It does this by preparing 'Impact assessments' which set out the advantages and disadvantages of possible policy options.
The Commission also consults interested parties such as non-governmental organisations, local authorities and representatives of industry and civil society. Groups of experts give advice on technical issues. In this way, the Commission ensures that legislative proposals correspond to the needs of those most concerned and avoids unnecessary red tape. Citizens, businesses and organisations can participate in the consultation procedure via the website Public consultations. National parliaments can formally express their reservations if they feel that it would be better to deal with an issue at national rather than EU level. Review and adoption How is legislation adopted? Economic and Financial Affairs. Greece: 4th review of the Second Economic Adjustment Programme Building on the impressive fiscal consolidation effort in recent years, Greece has exceeded its fiscal target in 2013, as a primary surplus in programme terms has been recorded.
Both soft indicators and hard data point to a bottoming out of the protracted economic recession, and confirm the programme expectation that Greece should return to economic growth in 2014. Portugal: 11th review of the Economic Adjustment Programme The report published today assesses the implementation of Portugal's Economic Adjustment Programme. The programme implementation is broadly on track. The review paves the way for the disbursement of EUR 2.5 billion under the Economic Adjustment Programme. Latvia: fifth Post-Programme Surveillance mission The assessment of post-programme developments is mixed.
A smooth euro changeover in Latvia The European Commission today adopted a report on the introduction of the euro in Latvia. EIP. The budget explained - Myths and facts - Financial Programming and Budget. The facts This is absolutely wrong. The EU's administrative expenses amount to less than 6% of the total EU budget, with salaries accounting for around half of that 6%. More than 94% of the European budget goes to citizens, regions, cities, farmers and businesses. The EU budget focuses on bringing growth and jobs, tackling climate change, migration, cross-border crime and other challenges that affect us all. It helps boost prosperity, for example by better interconnecting Europeans through energy, transport and ICT infrastructure, by supporting less well-off regions to create growth and jobs both there and in the rest of the EU, and by pooling our efforts in areas like research.
It is also about securing our own food supply. Salaries are paid to staff delivering and managing valuable EU policies that have a direct positive impact on citizens. Think of air traffic liberalisation, passenger rights or cheaper roaming charges. Economic crisis: Europe’s rescue plan. Hizballah - Terrorist Groups. Formed in 1982 in response to the Israeli invasion of Lebanon, Hizballah (the “Party of God”), a Lebanon-based Shia terrorist group, advocates Shia empowerment globally. The group also supports Palestinian rejectionist groups in their struggle against Israel and provides training for Iraqi Shia militants attacking Western interests in Iraq. Hizballah Secretary General Hasan Nasrallah publically indicated in May 2013 that Hizballah was supporting Bashar al-Asad’s regime by sending fighters to Syria.
The European Union designated Hizballah’s military wing as a terrorist organization on 22 July 2013, following the March conviction of a Hizballah member in Cyprus, a July 2012 bus bombing in Bulgaria, and the group’s intervention in Syria. Hizballah has participated in the Lebanese government since 1992. In February 2008, Hizballah’s military chief ‘Imad Mughniyah was killed by a vehicle bomb in Damascus. Nasrallah publicly blamed Israel and continues to promise retaliation.