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 Proc. 8788 every part of our society, and their cultural legacy still echoes in class-rooms, courtrooms, and communities across our Nation.

On Greek Independence Day, we commemorate the proud traditions that tie our nations together and honor all those who trace their lineage to the Hellenic Republic. Nearly 200 years after the Greek people won their war to return democracy to their homeland and become a sovereign state, we reaffirm the warm friendship and solidarity that will guide our work together in the years ahead.

NOW, THEREFORE, I, BARACK OBAMA, President of the United States of America, by virtue of the authority vested in me by the Constitution and the laws of the United States, do hereby proclaim March 25, 2012, as Greek Independence Day: A National Day of Celebration of Greek and American Democracy. I call upon all the people of the United States to observe this day with appropriate ceremonies and activities.

IN WITNESS WHEREOF, I have hereunto set my hand this twenty-third day of March, in the year of our Lord two thousand twelve, and of the Independence of the United States of America the two hundred and thirty-sixth.

BARACK OBAMA

Proclamation 8788 of March 26, 2012

By the President of the United States of AmericaA Proclamation 1. Section 502(b)(2)(E) of the Trade Act of 1974, as amended (the ‘‘1974 Act’’) (19 U.S.C. 2462(b)(2)(E)), provides that the President shall not designate any country a beneficiary developing country under the Generalized System of Preferences (GSP) if such country fails to act in good faith in recognizing as binding or in enforcing arbitral awards in favor of United States citizens or a corporation, partnership, or association that is 50 percent or more beneficially owned by United States citizens, which have been made by arbitrators appointed for each case or by permanent arbitral bodies to which the parties involved have submitted their dispute. Section 502(d)(2) (19 U.S.C. 2462(d)(2)) provides that, after complying with the requirements of section 502(f)(2) (19 U.S.C. 2462(f)(2)), the President shall withdraw or suspend the designation of any country as a beneficiary developing country if, after such designation, the President determines that as the result of changed circumstances such country would be barred from designation as a beneficiary developing country under section 502(b)(2). Section 502(f)(2) requires the President to notify the Congress and the country concerned at least 60 days before terminating the country’s designation as a beneficiary developing country for purposes of the GSP.

2. Having considered the factors set forth in section 502(b)(2)(E) of the 1974 Act, I have determined pursuant to section 502(d) that it is appropriate to suspend Argentina’s designation as a GSP beneficiary developing country 20