The prospect of derailing the government's plans

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The prospect of derailing the government's plans

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ATHENS cheap nike air force 1 low black , June 14 (Xinhua) -- The intense dispute over the Greek government's sudden decision to shut down state television and radio broadcaster ERT on Tuesday midnight was referred to courts on Friday, amid mounting tensions over the first big wave of layoffs in the country's public sector.

The Council of State, Greece's highest administrative court, is likely to issue a preliminary verdict by Tuesday next week on the nationwide federation of television and radio personnel POSPERT's request that the closure be reversed, according to legal sources. A final verdict could follow in autumn.

The prospect of derailing the government's plans and giving time to all sides to examine the necessary overhaul is on the table cheap nike air force 1 black , local analysts said.

POSPERT argues that the step was illegal because the relevant ministerial decree was not signed by all ministers and in addition the closure conflicts with Greek and international legislature frameworks regarding protection of press freedom.

In the meantime, main opposition Radical Coalition SYRIZA party has submitted a similar request to the Supreme Court, while upon a government's request a prosecutor launched a preliminary investigation into allegations for chronic corruption and mismanagement at ERT.

As the broadcaster's program is still being broadcast since Wednesday through other Greek private television and radio channels, Internet and the European Broadcasting Union (EBU), Europe's public broadcasters' association cheap nike air force 1 high white , press unions extended rolling strikes to all Greek print and electronic media to Tuesday. Only coverage of developments on ERT's issue is exempted.

ERT's "sudden death" has prompted strong reactions by international press unions and media in solidarity with ERT's 2,700 employees.

"We came here because it has never happened before, since EBU's establishment that a public channel was cut on air... We defend democracy and uphold civilization," EBU's President Jean-Paul Philippot said during a press conference held at ERT's headquarters in Athens on Friday.

Philippot held a series of meetings with Greek officials, including Finance Minister Yannis Stournaras cheap nike air force 1 low white , to whom he handed a petition undersigned by over 50 heads of European radio and TV stations who called for the immediate reopening of the broadcaster, arguing that it is a matter of safeguarding press freedom and pluralism.

Reiterating the government's determination to press forward reforms and close ERT as a hub of waste Stournaras stressed on Friday that ERT's closure was necessary in order to proceed with the restructuring.

Philippot also had talks with Fotis Kouvelis, leader of Democratic Left, the junior partner in the three-party one- year ruling coalition, who insisted that ERT should carry on operating during the restructuring.

ERT's closure has caused rifts within the government cheap nike air force 1 white , as socialist PASOK shares Kouvelis' view and backs a draft law submitted to parliament aiming to reverse the ministerial decree signed only by ministers of the conservative New Democracy Party of Prime Minister Antonis Samaras.

A meeting between all partners has been scheduled for Monday, amidst persisting scenarios in local media of a possible government collapse and new snap general elections as soon as mid-July.

"Needed reforms is one thing, a blackened TV screen is another. It's an issue of democracy... Whoever chooses to lead the country to polls, should bear the responsibility," Kouvelis said on Friday after his meeting with Philippot.

"ERT is not for sale cheap nike air force 1 07 mid ," ERT employees and other protesters chanted at the same time during the latest demonstrations at ERT's main building, as the broadcaster's orchestra, joined by the City of Athens Music Bands, performed at the courtyard.

In a further blow for the government, a news blog rushed to register the domain name "NERIT" of the new broadcaster which will replace ERT in late August with reduced staff cheap nike air force 1 07 low , according to the government's plan.

Now, the government will either have to pay the blog or rename the New Hellenic Radio, Internet and Television Broadcaster (NERIT).

ERT's shutdown is part of a new round of cost-cutting and reform measures promoted by the government under pressure from international lenders in exchange for further crucial rescue loans to stave off default.

Greece pledged creditors who keep her afloat since 2010 that will eventually proceed with the unprecedented in its modern history dismissals of tens thousands civil servants by 2016, starting with at least 2,000 employees this summer and 4 cheap nike air force 1 07 high ,000 by 2014 in the context of efforts to resolve the economic crisis.

SHANGHAI, Feb. 9 (Xinhua) -- The Chinese mainland launched its first stock options on Monday, giving investors more tools to manage risks as the country's stock market showed signs of losing steam after gaining 53 percent last year.

Shanghai Party Secretary Han Zheng and China Securities Regulatory Commission Chairman Xiao Gang opened the market for the option trading at the Shanghai Stock Exchange.

The first day's trading involved transactions on about 18,800 contracts. Premium trade volume reached 29 million yuan (4.4 million U.S. dollars), according to statistics from the Shanghai Stock Exchange.

"We hope the introduction of stock options will provide domestic investors diverse choices cheap nike air force 1 07 , promote product innovation and enrich trading strategies," said Huang Hongyuan, general manager of the Shanghai Stock Exchange.

Huang said he expected the stock option would better reflect market sentiments and increase pricing efficiency.

Option trading could accommodate the needs of insurance companies and pension funds, improving the structure of funds in the market, he added.

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