Liquidation of Hellenic Vehicles Industry (ELVO) set out in Interior ministry bill
ANA-MPA -- Provisions regarding the Hellenic Vehicles Industry's (ELVO) liquidation process have been submitted in an amendment to the Interior ministry's bill setting out how EU citizens living in
The amendment states that ELVO, part of the Greek defence industry, will be subsidised by the Greek state during the entire liquidation period to enable production - mostly concerning completion of the Greek Armed Forces' orders - to continue. The subsidy expenditure, according to the State General Accounting office's report, is assessed at 14 million euros and is expected to be offset fully by ELVO's auction value.
The subsidy will cover the following obligations: to contractors of the company; the state; social insurance agencies; energy providers; the special liquidator; and to cover the rest of the liquidation's expenditures and expenditures that are necessary for the completion of orders. The subsidy will be provided directly by the liquidator for the coverage of the debts and expenditures; it will not be included in the amount to be distributed to the creditors.
In terms of the Interior ministry bill, the real population of municipal districts in municipalities of over 100,000 inhabitants each will be based on the ratification of the 2011 census figures. Population that cannot be assigned to districts will be distributed among them proportionately.
Μore on subscrider' s page | application
© ANA-MPA SA. Intellectual rights and copyright are the sole property of the ANA-MPA and are allocated to the Agency's subscribers for specific uses only.
ECONOMYIt is necessary for Greece to reach a rapid agreement with its partners, covering both the servicing of its current and long-term debt, the State Budget Office of the Greek Parliament said in its quarterly report on the Greek economy.
FINMIN - EUROGROUP CHAIRMANGreece rejects both an extension of the bailout programme and any talks with the troika of its creditors, Finance Minister Yanis Varoufakis said on Friday, adding that the Greek programme was unsoundly structured.
ECONOMIC POLICYGreece's new Finance Minister Yanis Varoufakis on Wednesday appeared confident that Greece will succeed in reaching an agreement with its creditors, while addressing reporters at the ministry handover ceremony with former minister Gikas Hardouvelis.
SCHAEUBLEThe rules must be respected and trust and credibility are the basis for further solidarity, which we all need in Europe, German Finance Minister Wolfgang Schaeuble on Friday said and stressed that "nobody can disagree with us on that and moreover it