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 | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |