Merkel rejects calls to ease on labor costsSeptember 25, 2012 - 15:40 AMT PanARMENIAN.Net - Chancellor Angela Merkel is insisting Germany should not bend to pressure to ease up on efforts to keep labor costs as low as possible, arguing that doing so would do nothing to help Europe, AP reports. Merkel says Tuesday, Sept 25 at an industry conference there can be "no compromise" in Germany's approach to making sure labor costs remain competitive. Many economists outside Germany have argued that while the approach has helped make German exports more competitive, it's been at the cost of other economies in the 17-country eurozone. Merkel has consistently pinpointed differences in competitiveness as a central problem in Europe and that much more needs to be done despite recent reforms in countries like Italy and Spain. 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 | 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. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |