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

[tommy271]

ECB΄s Meeting In The Spotlight



ECB’s governing council meeting Thursday is awaited with great interest by Greek banks, while a possible decision on "quantitative easing" may also affect the course of Greece’s public debt.

Jean Claude Trichet had announced that the current policy to provide liquidity without cap would be continued until October of. Judging from the sentiment created by ECB officials’ comments, the most likely outcome is that there will be an extension of "quantitative easing" until at least the first quarter of 2011.

The point of interest though in tomorrow’s meeting is on whether the Franfurt based bank will alter the supply conditions after October, particularly in terms of pricing (and the height of the haircut) on the bonds that are the "vehicle" to recycle liquidity between government and banking system.

Any changes here will cause the reaction of the markets since they will directly affect both the function of the failing interbank market, and would "reveal" the ECB’s intention for 2011, with an impact on forex and bond markets that are extremely nervous.

For Greek banks, the ECB΄s decisions are extremely important since the September is the month when the twelve month "loans" granted a year ago by the ECB have to be repaid, and their refinancing is pricier due to changes that have occurred in the pricing of the Greek bonds by the ECB (meaning a bigger haircut).

(Capital.gr)

 

[tommy271]

New adviser? Lucas Papademos

New adviser? Lucas Papademos, the former vice president of the European Central Bank, waves to members of the press after meeting with Prime Minister George Papandreou in Athens yesterday. The meeting, which lasted for a little over an hour, has fueled speculation that Papademos will be joining the Socialist government to assist the country through the fiscal crisis. When questioned about this yesterday, government spokesman Giorgos Petalotis said: 'The government exists and operates. Discussions and opinions are always useful.' Papademos left the meeting without making any statement to the press.


(Ana.gr)

 

[tommy271]

Greek PMI shows manufacturing slump worsens in Aug

Wednesday September 01, 2010 03:02:08 AM GMT

ATHENS, Sept 1 (Reuters) - A slump in Greece's manufacturing activity worsened in August as output and new orders contracted more sharply and job cuts accelerated, a purchasing managers' survey showed on Wednesday.
There was, however, one encouraging sign in that export orders rose slightly -- for the first time in nearly a year -- although the growth rate was marginal.
The Markit Manufacturing Purchasing Managers' Index (PMI) for Greece fell to 43.0 points in August from 45.3 in July, staying firmly below the 50 mark that separates growth from contraction.
Austerity measures and depressed confidence as Athens tackles the country's massive debt burden have kept Greece in recession for a second year. Gross domestic product is seen contracting by as much as 4 percent in 2010, according to analysts and the central bank, after shrinking 2 percent last year.
Weak economic conditions were hurting demand, making clients reluctant to commit to new projects, survey participants said.
With production and new orders in decline for 11 and 12 straight months respectively, excess capacity at manufacturing plants led to reductions in work backlogs, stocks of finished goods and employment.
The index for work backlogs plunged to 34.5 from 45.1 in July.
"Following the relative improvement during July, the PMI slipped back in Aug as new orders and output both deteriorated at accelerated rates," said Markit economist Gemma Wallace.
"Given the stringent fiscal tightening that will remain in place for some time to come, domestic demand is set to remain weak going forward. Exports will be required to play a key role in recovery and the latest survey offered a glimmer of hope -- foreign sales rose slightly for the first time in 11 months," Wallace said.
Companies continued to shed jobs in August for the 28th consecutive month and at the fastest rate in nearly a year and a half, the PMI survey showed.
Manufacturers' costs rose more sharply in August as a result of increased raw material prices, higher taxes and rising transport costs. But weak demand and intense competition meant manufacturers were unable to pass on those higher costs to customers and often had to offer promotional discounts. (Reporting by George Georgiopoulos; Editing by Susan Fenton)

 

[tommy271]

PASOK in a muddle over local elections


As Prime Minister George Papandreou continues to mull over PASOK’s lineup of candidates for the November local elections, the government appears to be grinding to a halt as ministers wait to see whether they will be among those called on to quit national politics for the local scene.
Sources said yesterday that ministers are growing increasingly frustrated and anxious over Papandreou’s final decisions, which are due to be announced this weekend. In contrast to New Democracy, which has made its candidates known, PASOK is fretting over who he will pick.
Fresh rumors yesterday suggested that Papandreou has returned to the initial scenario of sending four or five major names from his Cabinet out to stand in the November 7 polls with the aim of securing key cities and regions. These will be the first local elections since local government boundaries were redrawn as part of the government’s Kallikratis scheme, which has created powerful regional authorities in the place of smaller prefectures.
Sources said that the prime minister could put Environment Minister Tina Birbili forward as a candidate for the Attica Prefecture and Justice Minister Haris Kastanidis to challenge for office in Thessaloniki. Agricultural Development Minister Katerina Batzeli is also being considered for the equivalent role in central Greece, while Deputy Health Minister Fofi Gennimata is being lined up to run for Athens mayor.
In such a scenario, Papandreou, who is due to address his party’s national council on Friday, would have to conduct a fairly extensive reshuffle over the next few days. Such a development has been both suggested and denied over the last few weeks.


(Kathimerini.gr)

 

[Imark]

Le chiusure OTC di ieri. I prezzi BBML sono aggiornati, gli Xtrakter sono quelli di venerdì, causa bank holiday su Londra ieri. Li tengo affiancati per comodità.

BBML evidenzia una tenuissima ripresa dei prezzi, dopo alcuni giorni di calo.

I prezzi sui GGBei evidenziano una volatilità particolarmente marcata, con il 2030 che mette a segno un recupero consistente, dopo aver subito un forte calo del prezzo un paio di giorni fa, che si segnalò in quanto anomalo rispetto all'andamento del resto della squadra.

il 2013 - 83,39 (BBML) 83,50 (Xtrakter);
il 2014 - 78,76 (BBML) 79,16 (Xtrakter);
il 2015 - 78,24 (BBML) 78,23 (Xtrakter);
il 2016 - 67,74 (BBML) 67,49 (Xtrakter);
il 2017 - 65,92 (BBML) 65,61 (Xtrakter);
il 2018 - 65,30 (BBML) 65,25 (Xtrakter);
il 2019 6% 69,67 (BBML) 69,70 (Xtrakter);
il 2019 6.5% 71,49 (BBML) 71,64 (Xtrakter);
il 2022 - 64,89 (BBML) 64,98 (Xtrakter);
il 2024 - 59,47 (BBML) 59,70 (Xtrakter);
il 2026 - 60,25 (BBML) 60,42 (Xtrakter);
il 2037 - 52,99 (BBML) 53,13 (Xtrakter);
il 2040 - 53,10 (BBML) 53,39 (Xtrakter);

GGBei 2025 - 53,34 (BBML), non significativo su Xtrakter
GGBei 2030 - 48,19 (BBML), non significativo su Xtrakter

OTC ieri. I bond greci mettono a segno un rimbalzo un po' più significativo, mediamente nell'ordine dei 2-3 decimi di punto su tutte le lunghezze.

il 2013 - 83,59 (BBML) 83,43 (Xtrakter);
il 2014 - 79,23 (BBML) 79,22 (Xtrakter);
il 2015 - 78,43 (BBML) 78,51 (Xtrakter);
il 2016 - 67,77 (BBML) 67,78 (Xtrakter);
il 2017 - 66,03 (BBML) 66,02 (Xtrakter);
il 2018 - 65,57 (BBML) 65,57 (Xtrakter);
il 2019 6% 69,73 (BBML) 70,04 (Xtrakter);
il 2019 6.5% 71,52 (BBML) 71,65 (Xtrakter);
il 2022 - 65,13 (BBML) 65,25 (Xtrakter);
il 2024 - 59,72 (BBML) 60,33 (Xtrakter);
il 2026 - 60,45 (BBML) 60,70 (Xtrakter);
il 2037 - 53,12 (BBML) 53,53 (Xtrakter);
il 2040 - 53,46 (BBML) 53,42 (Xtrakter);

GGBei 2025 - 53,44 (BBML), non significativo su Xtrakter
GGBei 2030 - 48,01 (BBML), non significativo su Xtrakter

 

[tommy271]

Oggi leggevo la vicenda del Governatore della banca centrale di Pechino accusato di consistenti perdite su operazioni con i titoli di stato Usa.
Si diceva fosse fuggito all'estero per sfuggire alla "punizione".
Oggi invece, per fugare ogni dubbio in proposito, vedo una bella fotografia di Zhou Xiaochuan in compagnia di ... Padoa Schioppa in occasione della sua visita a Pechino il 30 agosto.
In teoria l'incontro era tra il Governatore cinese e il Presidente del consiglio dei garanti della Fondazione Iasc (Padoa Schioppa) impegnato in una missione tra Giappone e Corea del Sud.
Questa mattinata, tra le altre cose, è uscita una news in cui si conferma l'acquisto di Bond Spagnoli da parte della Cina, per riequilibrare il peso del dollaro in favore dell'euro.

Credo che il buon Tommaso qualche suggerimento informale l'abbia dato l'altro giorno a Pechino ... vedremo se verrà raccolto. Sapete a cosa mi riferisco ...

 

[magico]

Oggi leggevo la vicenda del Governatore della banca centrale di Pechino accusato di consistenti perdite su operazioni con i titoli di stato Usa.
Si diceva fosse fuggito all'estero per sfuggire alla "punizione".
Oggi invece, per fugare ogni dubbio in proposito, vedo una bella fotografia di Zhou Xiaochuan in compagnia di ... Padoa Schioppa in occasione della sua visita a Pechino il 30 agosto.
In teoria l'incontro era tra il Governatore cinese e il Presidente del consiglio dei garanti della Fondazione Iasc (Padoa Schioppa) impegnato in una missione tra Giappone e Corea del Sud.
Questa mattinata, tra le altre cose, è uscita una news in cui si conferma l'acquisto di Bond Spagnoli da parte della Cina, per riequilibrare il peso del dollaro in favore dell'euro.

Credo che il buon Tommaso qualche suggerimento informale l'abbia dato l'altro giorno a Pechino ... vedremo se verrà raccolto. Sapete a cosa mi riferisco ...

Meno male un post in italiano....

 

[tommy271]

Meno male un post in italiano....

Nel mondo antico era il latino, in quello contemporaneo l'inglese.
Chi comanda impone anche la lingua.

Purtroppo le notizie interessanti che arrivano dalla Grecia sono in inglese (o in greco).
Non posso farci nulla ... mio malgrado.

 

[tommy271]

Schaeuble: Greece Deserves Respect For Efforts



Greece deserves respect for its efforts to cut its budget gap, Germany’s Finance Minister said on Wednesday, Reuters reports.

"I΄m of the opinion Greece deserves respect for taking action," Wolfgang Schaeuble told journalists.

"Our message is: we΄re making our contribution, we΄re not arrogant, we΄re not trying to teach any lessons. We back the Stability and Growth Pact. We΄re showing in Germany that growth and reducing deficits is possible," he added.

(Capital.gr)

***
Schaeuble si mantiene lontano dai riflettori (contrariamente alla Bundesbank) ma le sue parole pesano.

 

[Grisù]

Announcement regarding the establishment of special organizational structure to battle tax evasion


The Ministry of Finance is setting up a special organizational structure to battle tax evasion and improve tax compliance.

The new structure will focus on specific areas of the economy where a significant loss in tax revenues has been established. It will be made up of five task forces coordinated by a steering committee under the instructions of the Minister of Finance.

The task forces will:
1. Ensure prompt implementation of the new tax legislation already in place
2. Organize the collection of tax arrears,
3. Ensure tax compliance amongst the largest taxpayers,
4. Battle tax evasion amongst high-wealth and income individuals, those with high value real estate assets, and the self-employed
5. Strengthen tax filing and payment controls