Germany’s Merkel rejects calls to abandon austerity measuresMay 10, 2012 - 16:54 AMT PanARMENIAN.Net - German chancellor Angela Merkel has rejected calls to abandon austerity measures. She said structural reforms alongside austerity remain the only way Europe can get through its financial crisis, Belfast Telegraph reported. In a speech to the German parliament, Mrs Merkel rejected calls to abandon or scale back austerity measures in certain countries that use the euro. Debt reduction and growth are the "two pillars" of the strategy needed to bring the bloc out of the crisis, she said. Mrs Merkel said: "Growth through structural reform is important and necessary - growth through debt would throw us back to the beginning of the crisis." Europe's debt crisis has flared up again in recent days after Greek and French elections highlighted the scale of opposition to austerity. 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 | Russia provides info about arrested Armenian ex-MP Russian law enforcement agencies have provided information about the arrest of Tigran Urikhanyan. Lemkin Institue slams Pashinyan's “cryptic engagement with Genocide denial” The Lemkin Institute is alarmed over Pashinyan’s statements “questioning Armenia's legal basis to pursue justice against Turkey”. 41 detained as antigovernment protests continue in Yerevan 41 people were detained in Yerevan as people demanding Pashinian’s resignation stage campaigns of civil disobedience. Armenia votes for UN resolution granting Palestine new rights The U.N. General Assembly voted by a wide margin on May 10 to grant new “rights and privileges” to Palestine. |