Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
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tommy271
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IMF: No Greek Deafult
The International Monetary Fund said Wednesday that jitters on a Greek default are overrated but warned that many countries are piling up massive debt.
In three research papers published Wednesday, IMF economists said many countries are close to their debt limit-the point when the market see their debt as excessive and charge extremely high interest rates. The fund stressed that Greece, Iceland, Italy, Portugal and Japan are very close to that point.
Still, “the current risk of default in Europe is overestimated,” it said.
The analysis pointed to a number of countries over the past 30 years that have implemented consolidation measures to a scale similar to what Greece needs to do without defaulting.
It also argues that a default wouldn΄t help because Greece would be shut off from capital markets and would still have to sharply cut its government spending.
In May, Citigroup analyst Willem Buiter said that a Greek debt restructuring was "unavoidable." Either "there will be a Greek default,". Buiter wrote, "or the Greek sovereign debt will be restructured ΄voluntarily,΄ " by lengthening the maturities of the debt coming due over the next five years, the Wall Street Journal reports.
Buiter told the newspaper he hadn’t read the IMF analysis but still believed Greece was likely to default.
(Capital.gr)
The International Monetary Fund said Wednesday that jitters on a Greek default are overrated but warned that many countries are piling up massive debt.
In three research papers published Wednesday, IMF economists said many countries are close to their debt limit-the point when the market see their debt as excessive and charge extremely high interest rates. The fund stressed that Greece, Iceland, Italy, Portugal and Japan are very close to that point.
Still, “the current risk of default in Europe is overestimated,” it said.
The analysis pointed to a number of countries over the past 30 years that have implemented consolidation measures to a scale similar to what Greece needs to do without defaulting.
It also argues that a default wouldn΄t help because Greece would be shut off from capital markets and would still have to sharply cut its government spending.
In May, Citigroup analyst Willem Buiter said that a Greek debt restructuring was "unavoidable." Either "there will be a Greek default,". Buiter wrote, "or the Greek sovereign debt will be restructured ΄voluntarily,΄ " by lengthening the maturities of the debt coming due over the next five years, the Wall Street Journal reports.
Buiter told the newspaper he hadn’t read the IMF analysis but still believed Greece was likely to default.
(Capital.gr)
tommy271
Forumer storico
Papaconstantinou Says Greece Expects EUR800M In Revenue To Meet Deficit Target
Greece expects to get EUR800 million more in revenue, a sum it still needs to meet its 2010 deficit-cutting target of 8.1% of gross national product, Finance Minister George Papaconstantinou told La Tribune newspaper in an interview published Thursday, Dow Jones Newswires reports.
Greece΄s finance minister told the paper that the country has "no dogma" as to the size of the controlling stakes it wants to keep in infrastructure assets.
(Capital.gr)
Greece expects to get EUR800 million more in revenue, a sum it still needs to meet its 2010 deficit-cutting target of 8.1% of gross national product, Finance Minister George Papaconstantinou told La Tribune newspaper in an interview published Thursday, Dow Jones Newswires reports.
Greece΄s finance minister told the paper that the country has "no dogma" as to the size of the controlling stakes it wants to keep in infrastructure assets.
(Capital.gr)
tommy271
Forumer storico
Greek Market Advances
Athens stocks are sharply higher on Thursday tracking their European peers.
Today the markets will seek direction from the ECB announcement on interest rates as well as from macro data from the US, Piraeus Securities says while Marfin Analysis notes that the market will most probably accumulate at current price levels, as the investment community finds itself in the process of evaluating and digesting 1H10 results.
“On the other hand, should the positive momentum in foreign markets be reiterated, an upward movement could be supported,” it says.
ATE Securities expects a positive open in our domestic market with further consolidation bringing prices somewhat higher but says that thin trading volumes remain a constraining factor for any sustainable upside.
“Yesterday’s strong ascending move of markets abroad render us positive as to a possible continuation of the Athens market upward momentum, albeit in a softer way since the GI has re-approached the significant levels of the 1,580 units (1st Fibonacci retracement). In this context, we anticipate the bourse to open on slightly higher grounds, aiming at first for the 1,580 – 1,585 units region, with the Index’s course thereinafter to be mainly defined by the interest demonstrated by buy-side and with the equities of the banking sector being in the spotlight. Should the GI break aforementioned levels with ease, it is most probable that its shortterm upward momentum will gain dynamic, aiming for the 1,595 (15-days moving average) – 1,600 (2nd intraday resistance level) units; in every case, should the GI approach the 1,585 units, we would be willing to partially increase our portfolio liquidity,” Pegasus says.
Across the board, the General Index adds 2.04% at 1,603.18 on a total turnover of 44.69 mil. euro.
(Capital.gr)
***
Oggi l'indice ASE è ritornato intorno ai 1600 punti.
Athens stocks are sharply higher on Thursday tracking their European peers.
Today the markets will seek direction from the ECB announcement on interest rates as well as from macro data from the US, Piraeus Securities says while Marfin Analysis notes that the market will most probably accumulate at current price levels, as the investment community finds itself in the process of evaluating and digesting 1H10 results.
“On the other hand, should the positive momentum in foreign markets be reiterated, an upward movement could be supported,” it says.
ATE Securities expects a positive open in our domestic market with further consolidation bringing prices somewhat higher but says that thin trading volumes remain a constraining factor for any sustainable upside.
“Yesterday’s strong ascending move of markets abroad render us positive as to a possible continuation of the Athens market upward momentum, albeit in a softer way since the GI has re-approached the significant levels of the 1,580 units (1st Fibonacci retracement). In this context, we anticipate the bourse to open on slightly higher grounds, aiming at first for the 1,580 – 1,585 units region, with the Index’s course thereinafter to be mainly defined by the interest demonstrated by buy-side and with the equities of the banking sector being in the spotlight. Should the GI break aforementioned levels with ease, it is most probable that its shortterm upward momentum will gain dynamic, aiming for the 1,595 (15-days moving average) – 1,600 (2nd intraday resistance level) units; in every case, should the GI approach the 1,585 units, we would be willing to partially increase our portfolio liquidity,” Pegasus says.
Across the board, the General Index adds 2.04% at 1,603.18 on a total turnover of 44.69 mil. euro.
(Capital.gr)
***
Oggi l'indice ASE è ritornato intorno ai 1600 punti.
tommy271
Forumer storico
ANALYSIS-Papandreou may reshuffle cabinet but won't rock boat
Thursday September 02, 2010 08:44:10 PM GMT
* Municipal elections to trigger government changes
* Reshuffle not expected to affect key ministries
* Business demands stability, public wants changes
By Dina Kyriakidou ATHENS, Sept 2 (Reuters) - Greek Prime Minister George Papandreou is likely to reshuffle his cabinet in coming days to free up candidates for local elections but he won't risk making major changes to his team in the midst of a debt crisis.
Municipal elections across the country scheduled for Nov. 7 will force cabinet changes, as deputy ministers running for local office must be replaced. The Greek press is speculating a wider reshuffle may be on the cards.
But government officials and analysts say Papandreou won't want to disrupt the work going on to implement austerity measures agreed under a 110-billion euro, IMF/EU package aimed at rescuing Greece from bankruptcy.
"I don't see any dramatic changes," said Costas Ifantis, a political scientist at the University of Athens. "Continuity is crucial at this period."
The appointments may come as soon as Sunday, when the ruling Socialist PASOK party is due to announce its candidates for mayors and local governors. Analysts say Papandreou may want to name their replacements before he delivers his annual economic speech in the northern city of Thessaloniki on Sept. 11.
"Inevitably, some minor changes will take place as a result of the municipal election," a government official said on condition of anonymity.
PULLED IN DIFFERENT DIRECTIONS
Papandreou has been criticised for dragging his feet after revealing the budget deficit he inherited from the previous conservative government was more than two times bigger than expected, triggering a crisis of confidence on sovereign debt markets that shook the euro zone.
After plunging into its first recession in 16 years, Greece's economy is expected to shrink 4 percent this year, with salary cuts and tax hikes stifling consumption. Public investment has been cut and is barely trickling in.
Papandreou might be tempted to change some senior minister to push reforms and growth programmes, which are seen lagging. Finance Minister George Papaconstantinou is almost certain to stay but Economy Minister Louka Katseli is on riskier ground.
Papandreou is being pulled in two different directions, with pressure from the business world to stay the course countered by opinion polls showing the public wants change.
Greek retailers, who are suffering the effects of an austerity induced recession, are among those who have asked Papandreou not to make dramatic changes in key ministries.
"We oppose changes at ministries which will cause delays in the programme to boost small- and medium-business activity," said Vassilis Korkidis, head of the National Federation of Greek Merchants after meeting the Finance, Economy and Labour Ministers on Tuesday.
"The time for exploring a way out of the crisis is over and we must move to a period of hope and prospects," he said.
PUBLIC ANGER
But the general public, whose anger at tough austerity measures has spilled to the streets with protests and deadly riots this year, would prefer a change, opinion polls show. According to a GPO polling agency survey on Tuesday, 60 percent want Papandreou to reshuffle his government, now a mix of older socialist party stalwarts and young blood, including some who have never held public office.
But Papandreou still enjoys more support than the opposition leader and most Greeks feel the measures, which are already producing results in cutting deficits, are necessary.
"Disappointment and pessimism about how things are going in the country and its prospects dominate the majority of Greek society. There is discontent over the impact of policies but there is also a dominant view that there are no alternatives," said Takis Theodorikakos, GPO president.
The government is anxious to avoid social unrest as the effects of austerity really start to sink in after the summer. Many analysts predict anger will grow as people return from their holidays to face a tough winter.
Unions have already planned action, including at Thessaloniki, a traditional venue for protests against economic policies even during Greece's golden years when the economy was growing by 4 percent.
All eyes will be on Papandreou to see if he will relax some of the harsher measures to please the public, risking the wrath of international lenders and threatening approval of the next loan installment, due to be reviewed in October.
"There is no room for handouts and everyone understands that. What everyone is expecting is a growth policy for next year," Ifantis said. (Additional reporting by Renee Maltezou; Editing by Sonya Hepinstall)
Thursday September 02, 2010 08:44:10 PM GMT
* Municipal elections to trigger government changes
* Reshuffle not expected to affect key ministries
* Business demands stability, public wants changes
By Dina Kyriakidou ATHENS, Sept 2 (Reuters) - Greek Prime Minister George Papandreou is likely to reshuffle his cabinet in coming days to free up candidates for local elections but he won't risk making major changes to his team in the midst of a debt crisis.
Municipal elections across the country scheduled for Nov. 7 will force cabinet changes, as deputy ministers running for local office must be replaced. The Greek press is speculating a wider reshuffle may be on the cards.
But government officials and analysts say Papandreou won't want to disrupt the work going on to implement austerity measures agreed under a 110-billion euro, IMF/EU package aimed at rescuing Greece from bankruptcy.
"I don't see any dramatic changes," said Costas Ifantis, a political scientist at the University of Athens. "Continuity is crucial at this period."
The appointments may come as soon as Sunday, when the ruling Socialist PASOK party is due to announce its candidates for mayors and local governors. Analysts say Papandreou may want to name their replacements before he delivers his annual economic speech in the northern city of Thessaloniki on Sept. 11.
"Inevitably, some minor changes will take place as a result of the municipal election," a government official said on condition of anonymity.
PULLED IN DIFFERENT DIRECTIONS
Papandreou has been criticised for dragging his feet after revealing the budget deficit he inherited from the previous conservative government was more than two times bigger than expected, triggering a crisis of confidence on sovereign debt markets that shook the euro zone.
After plunging into its first recession in 16 years, Greece's economy is expected to shrink 4 percent this year, with salary cuts and tax hikes stifling consumption. Public investment has been cut and is barely trickling in.
Papandreou might be tempted to change some senior minister to push reforms and growth programmes, which are seen lagging. Finance Minister George Papaconstantinou is almost certain to stay but Economy Minister Louka Katseli is on riskier ground.
Papandreou is being pulled in two different directions, with pressure from the business world to stay the course countered by opinion polls showing the public wants change.
Greek retailers, who are suffering the effects of an austerity induced recession, are among those who have asked Papandreou not to make dramatic changes in key ministries.
"We oppose changes at ministries which will cause delays in the programme to boost small- and medium-business activity," said Vassilis Korkidis, head of the National Federation of Greek Merchants after meeting the Finance, Economy and Labour Ministers on Tuesday.
"The time for exploring a way out of the crisis is over and we must move to a period of hope and prospects," he said.
PUBLIC ANGER
But the general public, whose anger at tough austerity measures has spilled to the streets with protests and deadly riots this year, would prefer a change, opinion polls show. According to a GPO polling agency survey on Tuesday, 60 percent want Papandreou to reshuffle his government, now a mix of older socialist party stalwarts and young blood, including some who have never held public office.
But Papandreou still enjoys more support than the opposition leader and most Greeks feel the measures, which are already producing results in cutting deficits, are necessary.
"Disappointment and pessimism about how things are going in the country and its prospects dominate the majority of Greek society. There is discontent over the impact of policies but there is also a dominant view that there are no alternatives," said Takis Theodorikakos, GPO president.
The government is anxious to avoid social unrest as the effects of austerity really start to sink in after the summer. Many analysts predict anger will grow as people return from their holidays to face a tough winter.
Unions have already planned action, including at Thessaloniki, a traditional venue for protests against economic policies even during Greece's golden years when the economy was growing by 4 percent.
All eyes will be on Papandreou to see if he will relax some of the harsher measures to please the public, risking the wrath of international lenders and threatening approval of the next loan installment, due to be reviewed in October.
"There is no room for handouts and everyone understands that. What everyone is expecting is a growth policy for next year," Ifantis said. (Additional reporting by Renee Maltezou; Editing by Sonya Hepinstall)
tommy271
Forumer storico
tommy271
Forumer storico
Borse, la Grecia torna in primo piano
Ultimo aggiornamento : 02-09-2010 13:30
La notizia secondo cui il governo greco avrebbe rinunciato ad un nuovo aumento dell'Iva spinge la Borsa di Atene sopra la soglia simbolica dei 1.600 punti. E in Europa i mercati...
Seduta a due velocità per le borse del vecchio continente. Da un lato spiccano i rialzi superiori al 2,5% del Dax 30 tedesco (+2,68%), del Ftse 100 londinese (+2,,70%) e dell'Aex di Amsterdam (+2,88%). Dall'altro si segnalano i lievi ribassi di Parigi (Cac 40 fermo a -0,25%) e Milano (Ftse Mib, -0,42%).
Ma a metà giornata spicca su tutti il dato di Atene. L'indice generale della borsa greca fa registrare a metà giornata un rialzo del 2,5% riportandosi per la prima volta da settimana sopra la soglia dei 1.600 punti. A spingere la Grecia ci hanno pensato le notizie apparse sulla stampa relative alla rinuncia da parte del governo di procedere ad un nuovo aumento dell'Iva a partire dal primo gennaio prossimo su prodotti di largo consumo e servizi.
Il ministro delle finanze Giorgio Papaconstantinou al momento non ha smentito e si fa avanti l'ipotesi che abbia deciso di fare marcia indietro dopo le proteste delle associazioni dei commercianti ipotizzando un aumento delle imposte sul gasolio da riscaldamento.
(Buerating.com)
Ultimo aggiornamento : 02-09-2010 13:30
La notizia secondo cui il governo greco avrebbe rinunciato ad un nuovo aumento dell'Iva spinge la Borsa di Atene sopra la soglia simbolica dei 1.600 punti. E in Europa i mercati...
Seduta a due velocità per le borse del vecchio continente. Da un lato spiccano i rialzi superiori al 2,5% del Dax 30 tedesco (+2,68%), del Ftse 100 londinese (+2,,70%) e dell'Aex di Amsterdam (+2,88%). Dall'altro si segnalano i lievi ribassi di Parigi (Cac 40 fermo a -0,25%) e Milano (Ftse Mib, -0,42%).
Ma a metà giornata spicca su tutti il dato di Atene. L'indice generale della borsa greca fa registrare a metà giornata un rialzo del 2,5% riportandosi per la prima volta da settimana sopra la soglia dei 1.600 punti. A spingere la Grecia ci hanno pensato le notizie apparse sulla stampa relative alla rinuncia da parte del governo di procedere ad un nuovo aumento dell'Iva a partire dal primo gennaio prossimo su prodotti di largo consumo e servizi.
Il ministro delle finanze Giorgio Papaconstantinou al momento non ha smentito e si fa avanti l'ipotesi che abbia deciso di fare marcia indietro dopo le proteste delle associazioni dei commercianti ipotizzando un aumento delle imposte sul gasolio da riscaldamento.
(Buerating.com)
tommy271
Forumer storico
Authorities May Get CD With Tax Evaders
Greece’s Economic Crimes Enforcement Agency, a special unit of the Ministry of Finance devoted in cracking down tax evasion, is in negotiations to acquire a CD containing the names of Greek doctors that have assets and foreign bank accounts, not in consistence with their tax income, sources say.
An agency official would today meet the owner of the CD. The sum for which the Greek government may buy the disc is undisclosed.
The informer sent an e-mail to the agency, notiying them on the existence of the disc.
Officials hope that this information will help them get a bigger picture on tax evasion among doctors.
It is noted that some time ago, authorities had released the names of doctors that had allegedly breached the law concerning tax statements.
(Capital.gr)
***
i sacrifici li devono fare tutti ... 
Greece’s Economic Crimes Enforcement Agency, a special unit of the Ministry of Finance devoted in cracking down tax evasion, is in negotiations to acquire a CD containing the names of Greek doctors that have assets and foreign bank accounts, not in consistence with their tax income, sources say.
An agency official would today meet the owner of the CD. The sum for which the Greek government may buy the disc is undisclosed.
The informer sent an e-mail to the agency, notiying them on the existence of the disc.
Officials hope that this information will help them get a bigger picture on tax evasion among doctors.
It is noted that some time ago, authorities had released the names of doctors that had allegedly breached the law concerning tax statements.
(Capital.gr)
***
i sacrifici li devono fare tutti ...
tommy271
Forumer storico
DJ: Greek PM To Announce ‘Limited’ Cabinet Reshuffle Within Week
George Papandreou is set to announce a limited cabinet reshuffle within a week, most probably Sunday, Dow Jones Newswires reports citing a senior person familiar with the matter.
Regional elections are scheduled for November 7th and some cabinet members may run for offices, the news agency says.
"A final list of candidates for prefectures and mayors is going to unveiled on Sunday and the Prime Minister does not want to present his main policy address at the Thessalonica Trade Fair on September 11 with uncertainty clouded over ministerial posts," the senior person added.
"I believe the reshuffle will be limited to three of four deputy ministers," the senior person familiar with the matter added.
(Capital.gr)
George Papandreou is set to announce a limited cabinet reshuffle within a week, most probably Sunday, Dow Jones Newswires reports citing a senior person familiar with the matter.
Regional elections are scheduled for November 7th and some cabinet members may run for offices, the news agency says.
"A final list of candidates for prefectures and mayors is going to unveiled on Sunday and the Prime Minister does not want to present his main policy address at the Thessalonica Trade Fair on September 11 with uncertainty clouded over ministerial posts," the senior person added.
"I believe the reshuffle will be limited to three of four deputy ministers," the senior person familiar with the matter added.
(Capital.gr)
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