European Commission wants control on fundingOctober 6, 2011 - 14:34 AMT PanARMENIAN.Net - The European Commission wants to be able to suspend parts of the next multibillion euro (dollar) funding program for poorer regions if too much money is lost through bad economic policy or insufficient oversight. In a carrot-and-stick approach, the European Union's executive announced Thursday, October 6, that its proposals to spend euro336 billion over seven years also will include financial rewards for projects that stick closest to their commitments. The proposals will now be taken up by the 27 member states, and the new multibillion euro (dollar) program should kick in by 2014, The Associated Press reported. 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 Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. Armenian Foreign Minister regrets “tragic loss” of Iranian counterpart The Armenian Foreign Ministry has expressed shock over the death of the Iranian President and the Minister of Foreign Affairs. Armenian PM sends condolences to Iran Prime Minister Nikol Pashinyan sent a message of condolence to the Supreme Leader Seyyed Ali Khamenei. |