€7.3 Billion on the Table: Is Bulgarian Business Ready for Europe’s Defense Boom?
Europe is undergoing a fundamental shift in how it approaches defense, moving beyond increased spending toward the creation of an entirely new industrial ecosystem
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A protest rally by Public Power Corporation (PPC) employees against the draft `small PPC` bill for the partial privatisation of Greece`s power company started in Syntagma Square opposite the Parliament on July 9. Photo by EPA/BGNES
Greek lawmakers gave green light to a bill under which 30% of the Public Power Corporation (PPC) will be sold as part of a large-scale privatization program.
Opposition parties however submitted proposals to hold a referendum on the move, daily Kathimerini's website reports.
Parliament Speaker Evangelous Meimarakis and Deputy Parliament Speakers are to meet at 14:30 EEST (12:30 GMT) to decide whether requests to call a national poll should be debated.
Both conservative New Democracy and socialist PASOK, which are partners in government, backed the privatization scheme, while the opposition and independent MPs voted against, with far-right Golden Dawn, right-wing Independent Greeks and far-left SYRIZA tabling their referendum proposals.
The decision to sell PPC is the latest step in Athens' effort to deliver on Greek commitments to the "Troika" of international lenders (the EU Commission, the International Monetary Fund (IMF) and the European Central Bank (ECB).
The country agreed with the three institutions to receive EUR 210 B to tackle its huge debt and undertake crucial reforms and a years-long austerity program that left its economy crippled for half a decade.
Reforms also included the privatization of a number of state enterprises which lenders believe impose a burden on the economy.
Earlier in July, PPC workers went on a 48-hour strike over the prospective sale of a third of their company, and the country suffered power outages for two days. Protests were also held in the capital on Wednesday before Parliament's session, amid a fresh general strike that started the same day against continuing mass layoffs and wage cuts.
As part of a new state strategy, PPC is also seeking to set up subsidiaries in neighboring countries to expand presence in the region, and earlier this week it announced it would have a filial in Bulgaria.
Wednesday's vote in Greek Parliament was a day ahead of a visit by Troika representatives who are due to meet newly-appointed Finance Minister Gikas Hardouvelis in Athens.
Energy expert Boyan Rashev has warned that Europe could be moving toward what he described as an “energy lockdown” scenario if fuel supply pressures continue to worsen
Fuel prices in Bulgaria have continued to edge upward, with diesel and gasoline both registering increases in the days following the Easter holiday
The president of the Confederation of Bulgarian Trade Unions, Plamen Dimitrov, has warned that inflation in Bulgaria is likely to exceed earlier projections, even if fuel prices begin to decline
Bulgaria’s fuel market has recorded a sharp upward shift since the outbreak of the war in Iran, with diesel and petrol prices rising significantly across the country
The second exploration drilling in the Krum-1 area of the Khan Asparuh block in Bulgaria’s Black Sea has also failed to identify commercially significant natural gas deposits, according to OMV Petrom
The Ombudswoman institution has voiced strong opposition to the proposed increase in heating prices in Sofia, which is expected to approach nearly 30 percent
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