Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1

[tommy271]

Greece Meets Austerity Targets


FRANKFURT—Greece has met all of its targets under the austerity plan laid out for it by the European Union and International Monetary Fund, and should receive its next tranche of financial aid as scheduled, pending final reviews, the EU, IMF and European Central Bank said in a joint statement Thursday.
"The staff-level agreement reached with the Greek authorities will pave the way for the conclusion of the first review under the loan facility agreement and stand-by arrangement, subject to approval by the commission, the Eurogroup and the IMF's management and executive board," the statement said.
Greece is due to receive a second tranche of €9 billion ($11.85 billion) in October, under the €110 billion aid package agreed to in May. The IMF is due to provide €2.5 billion, with the euro-zone member states providing the rest.
The three reviewing parties said Thursday that the Greek economy had developed largely in line with their expectations since May, and reaffirmed their forecast of a 4% contraction in gross domestic product this year, followed by another 2.5% contraction next year. They raised their forecast for inflation this year to 4.75% due to increases in indirect taxes, but said it would "decline rapidly" in the absence of second-round effects.
The EU, IMF and ECB also sounded a relaxed note on the health of the banking system, saying the decline in its capital adequacy was only "moderate," and that the rise in bad loans was in line with expectations.



(The Wall Street Journal)

 

[tommy271]

Grecia, buon inizio risanamento secondo delegazione Fmi-Ue-Bce

giovedì 5 agosto 2010 12:28




ATENE (Reuters) - La Grecia riceverà la seconda tranche del pacchetto internazionale di auti grazie all'avvio molto deciso del proprio piano di austerità. E ora occorre concentrarsi su riforme drastiche che permettano all'economia di tornare a crescere.
Lo ha detto un alto esponenente del Fondo monetario internazionale, Poul Thomsen, capo della delegazione congiunta con Unione eruropea e Bce che nelle ultime due settimane ha visitato la Grecia per verificarne i progressi sul fronte del risanamento fiscale, fondamentali per l'ottenimento dei 9 miliardi di euro della seconda tranche del pacchetto triennale di aiuti al paese, da complessivi 110 miliardi.
"Il programma è ben avviato. Si tratta di impegni molto ambiziosi con molte misure da prendere subito. La buona notizia è che è stato avviato secondo i piani" ha detto Thomsen, parlandi di un avvio "impressionante" del processo di risanamento.
In un comunicato congiunto, d'altra parte, Fmi, Eu e Bce confermano il buon inizio del processo di riforma avviato dalla Grecia, pur ricordando che numerose sfide restano da affrontare.
"Il giudizio complessivo è che il programma sia stato iniziato in maniera decisa" si legge nel comunicato, che sottolinea come la contrazione dell'economia greca si mantenga in linea con le previsioni.
"I criteri di performance quantitativa alla fine di giugno sono stati tutti rispettati, grazie a una realizzazione vigorosa del programma fiscale e alle importanti riforme che vengono realizzate in anticipo sui tempi previsti. Restano tuttavia importanti sfide e rischi", aggiunge.

 

[tommy271]

Moneta unica in forte crescita contro dollaro

FTA Online News

L'euro viene scambiato a 1,3220 contro il dollaro, in forte rialzo rispetto alla quota di 1,3120 registrata in avvio delle contrattazioni nei mercati valutari europei.
L'apprezzamento della moneta unica e' legato sia al positivo dato macroeconomico pubblicato in Germania che al diminuire delle preoccupazioni sulla crisi della Grecia.
In Germania gli ordinativi dell’industria manifatturiera a giugno sono aumentati del 3,2% su base mensile (-0,1% il dato rivisto relativo a maggio). Su base annua l’incremento è stato del 24,6% rispetto a quello del 25,1% (dato rivisto) del mese precedente. I dati si sono rivelati superiori alle previsioni degli analisti che si attendevano un rialzo rispettivamente dell’1,4% e del 21,6%.
Intanto continuano a ridimensionarsi i timori relativi alla Grecia, dopo che il capo della delegazione congiunta con Unione europea e Bce Poul Thomsen ha espresso parole di elogio circa l’avvio molto deciso del piano di austerità che consentirà al Paese ellenico di ricevere la seconda tranche del pacchetto internazionale di aiuti (9 miliardi di euro dei 110 previsti).
Il mercato resta comunque in attesa della decisione della Banca centrale europea e della Bank of England sui tassi di interessi (per entrambe le previsioni sono di una conferma degli attuali livelli, rispettivamente all’1% e allo 0,5%) e soprattutto della conferenza stampa del presidente dell’istituto di Francoforte Jean-Claude Trichet che seguirà l’annuncio e che potrà fornire qualche indicazione riguardo allo stato di salute dell’economia del Vecchio continente.
Gli addetti ai lavori attendono anche i dati dagli Stati Uniti. Alle 14,30 italiane saranno pubblicate le richieste settimanali di sussidi di disoccupazione, alle 16,15 e' previsto un intervento del presidente della Federal Reserve, Ben Bernanke.

 

[g.ln]

Buone notizie

Moneta unica in forte crescita contro dollaro

FTA Online News

L'euro viene scambiato a 1,3220 contro il dollaro, in forte rialzo rispetto alla quota di 1,3120 registrata in avvio delle contrattazioni nei mercati valutari europei.
L'apprezzamento della moneta unica e' legato sia al positivo dato macroeconomico pubblicato in Germania che al diminuire delle preoccupazioni sulla crisi della Grecia.
.

Buone notizie per chi sta rischiando con i titoli greci!
In effetti, sono alcune settimane che la discesa si è fermata: ho terminato infatti di mediare al ribasso.
Ciao, Giuseppe

 

[Jessica.]

..mi chiedo quando favoriranno la ripresa svalutando la nostra moneta..

 

[tommy271]

Greece Gets Positive Progress Report From Lenders

By SUZANNE DALEY and NIKI KITSANTONIS

BRUSSELS — Greece’s international lenders cleared the way Thursday for it to receive the next installment of its bailout package, saying the government had made “impressive” progress in revamping its economy, from restructuring pensions to overhauling the tax system.

The release of a further 9 billion euros, or $12 billion, expected next month, follows a two-week audit by a team from the European Union, the European Central Bank and the International Monetary Fund, which is monitoring whether Greece has been putting its strict austerity program into action.

The program dictates cuts in civil service pay, reduced pensions and an increase in taxes, among other measures, many of which were approved by the Greek Parliament by the slimmest of margins over the last few months.
The head of the I.M.F. delegation, Poul Thomsen, said all policies that Greece had agreed to had been implemented.
“You have a government here that is clearly determined to move ahead,” Mr. Thomsen said. “This program is off to a very good start. I would say a very impressive start.”
Not all the news was good, however.

In a country where tax evasion has been a national pastime, tax collection was slightly below target for the first half of the year, though it was still 7 percent higher than last year, I.M.F. officials said.
The team also found that spending below the national level — local governments, hospitals, social security — was over budget. But spending cuts at the national level exceeded expectations, making up the difference.

Mr. Thomsen said he found the level of determination in the present government was notable.
“I am not about to tell you that the markets are convinced,” Mr. Thomsen said. “But clearly there is a shift in sentiment. People are beginning to understand the scope of what is being attempted here.”

According to Bloomberg data, the spread between interest rates on Greek bonds and the German benchmark stood at 762 basis points on Thursday — still steep, but a marked improvement from the record 965 basis points on May 7. The euro, which had dropped as low as $1.19 in early June, has since rebounded to around $1.32.

Mr. Thomsen praised Prime Minister George A. Papandreou for his recent handling of a truckers strike, for instance, saying similar labor market changes in sectors such as health would be needed.
Last month, after the strike by truck drivers resulted in gasoline shortages, Mr. Papandreou signed an executive order forcing the drivers back to work.
The rare measure, called civil mobilization, effectively makes the drivers members of the armed forces and therefore subject to command.

The drivers were unhappy over efforts by the Transport Ministry to increase their numbers. No additional licenses have been issued in 25 years, limiting the number of drivers to 35,000 and making trucking costs very high in Greece.
Greece is trying to dig itself out of huge budget deficit — equal to 13 percent of gross domestic product in 2009 — or about $400 billion.

The bailout, worked out over weeks of negotiations, calls for 110 billion euros, or $146 billion, in loans over the next three years, intended to avoid a debt default. Greece had already received 20 billion euros in May. The next review is due on October.
In a joint statement, the auditors also noted that Greece is currently battling the highest inflation rate in the 27- nation E.U. and its revenues are still trailing targets. The I.M.F. forecasts the economy will shrink as much as 4 percent this year.
“All the measures that are being taken are bearing down on growth,” Mr. Thomsen said. “But I am confident we will see growth next year.



(The New York Times)

 

[tommy271]

..mi chiedo quando favoriranno la ripresa svalutando la nostra moneta..

Quando l'Azienda Europa si incaglierà di nuovo ...

 

[tommy271]

A metà giornata gli indici sono lievemente negativi, nonostante le buone notizie ... a questo siamo abituati da tempo.

Spread/Bund sul decennale sempre stabile nel solito range: ora attorno a 771 pb.
I CDS, secondo CMA, segnavano alle 8,30 714 punti mentre alla seconda rilevazione delle ore 12,30 segnavano 721.
La Borsa di Atene consolida attorno a 1774 punti segnando un - 0,19 con 60 Mln di scambi.

 

[Brisico]

GRECIA: UE-BCE-FMI PROMUOVONO RISANAMENTO. ARRIVANO ALTRI 9 MLD DI EURO (ASCA) - Roma, 5 ago - La Grecia passa gli esami del primo semestre del 2010. Oggi la verifica di Ue-Bce-Fmi sul programma di risanamento dei conti pubblici greci. ha confermato come ''Atene stia rispettando i programmi'' e dunque arrivera' ''la seconda tranche di prestiti'', pari a 9 miliardi di euro.

Atene, secondo i funzionari della tre istituzioni, ha fatto importanti ''progressi per risanare la finanza pubblica, sebbene permangano ancora dei rischi''.

Confermata la previsione per l'economia ellenica di un biennio di recessione: Pil 2010 -4%, nel 2011 -2,5%.

L'inflazione, anche a causa dell'aumento delle imposte indirette, viaggia ''sopra le attese, ma e' destinata a scendere rapidamente''.

I funzionari delle tre istituzioni hanno poi comunicato che la prossima verifica sul programma di risanamento sara' fatta nel prossimo mese di ottobre.

In totale Ue e Fmi hanno messo a disposizione della Grecia una linea di credito pluriennale da 110 miliardi di euro, 20 miliardi sono stati utilizzati a maggio, altri 9 arriverano dopo la promozione odierna, altri 9 a dicembre se verra' superata la verifica di ottobre.

men/mcc/bra

 

[tommy271]

International Investors Participation in ASE Drops In July



The participation of international investors in the capitalization of the Greek Stock Exchange on 30/7/2010 was decreased compared to the previous month at 48.5%, Athens Exchange said Thursday. In June, their participation was 49.4% and in July 2009 their foreign investors participation was 48.1%.

The Greek investors on 30/7/2010 held 50.1% of the total capitalization of the ATHEX listed stocks.

Transactions Value in July 2010 reached EUR2,287.4 million increased by 3% since June 2010 when transactions value was EUR2,218.0 million.

Compared with July 2009 when transactions value was EUR4,176.1 million there was an decrease of 45%.

Correspondingly, Average Daily Value (ADV) of Transactions in July 2010 was EUR104.0 million which is higher compared to June 2010 (EUR100.8 million) and lower since July 2009 (EUR181.6 million).

There were 48,415 Active investors Accounts in July, compared to 50,574 in the previous month (July 2009: 82,604).

In July 2010 3,393 new Investor shares were created against the 2,373 new shares that had been created in the previous month.

The market capitalization of the Athens Stock Exchange at the end of July was calculated at EUR65.2 billion. Compared with the corresponding capitalization of June 2010, which was EUR56.5 billion, there was a increase of 15.4%, while compared with the corresponding capitalization of July 2009 which was EUR89.1 billion, the decrease reached 26.8%.

In July 2010, international investors as a whole were net sellers by EUR86.1 million. The outflows derived from international institutional investors (EUR77.94 million), international retail investors (EUR14.19 million) and offshore companies (EUR6.39 million), while international legal entities were buyers with net amount of EUR12.42 million.

Greek investors were net buyers by EUR88.0 million, derived from Greek institutional investors (EUR102.17 million), private legal entities (EUR2.67 million) and Greek Public Sector (State and State Controlled Funds) (EUR0.72 million), were Greek retail investors were sellers with net amount of EUR17.56 million.

The remaining EUR1.9 million of outflow from other investors, concern accounts with unregistered country of tax residence.

International investors in July 2010 did 44.3% of the transactions’ value (in June 2010 they did 46% of the transactions’ value, while in July 2009 they had done 50.1% of the transactions’ value). Greek retail investors in July 2010 did 32.8% of the transactions’ value (in June 2010 they did 30.3% of the transactions’ value, while in July 2009 they had done 27% of the transactions’ value). Greek Institutional Investors (private financial companies) in July 2010 did 21.3% of transactions’ value (in June 2010 they did 21.2% of the transactions’ value, while in July 2009 had done 13.1% of the transactions’ value).

(Capital.gr)

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