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.
DEBT TO STATEAn amendment on the settlement of arrears to the state passed in Parliament on Friday afternoon by the votes of the two ruling coalition parties New Democracy and PASOK, as well as by those of opposition Democratic Left (DIMAR) and Independent Greeks
FINANCE MINISTERFinMin Hardouvelis: The biggest problem for the Greek economy is the political climate and the uncertaintyFinance Minister Gikas Hardouvelis referred to the change of Greece's relationship with the IMF, the increase of the spreads
BANKSEuropean authorities will inform the managements of the four Greek systemic banks over the stress tests results related to the banks’ capital adequacy rates today (Thursday), and release official results on Sunday.
TRADE DEFICITGreece's trade deficit shrank by 29.5 pct in August, reversing a rising trend which prevailed in the previous months. The trade deficit, however, was up 5.2 pct in the January-August period, Hellenic Statistical Authority said on Friday.