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

[tommy271]

Slovakia faces EU anger after refusing aid for Greece-UPDATE 1


Wednesday September 08, 2010 02:42:12 PM GMT

* Slovak decision may complicate EU budget talks
* Slovakia may face isolation, be "denied favours" at EU
(Updates with Rehn, Greek finmin comment)

By Marcin Grajewski and Jan Strupczewski

BRUSSELS, Sept 7 (Reuters) - Slovakia faced growing criticism and isolation at a meeting of European Union finance ministers on Tuesday over its decision not to contribute to an aid package for debt-ridden Greece.
Several EU officials said privately that Slovakia could be snubbed by some of the 26 other EU member states because its decision is likely to complicate talks on the bloc's budget, making the rich net payers less willing to grant aid to poorer countries.
"Slovakia had agreed to this. The new government in Slovakia has reneged on this agreement. This is not acceptable," Austrian Finance Minister Josef Proell told reporters.
"We will pursue discussions. We want Slovakia to take their responsibilities more seriously in the future."
The parliament in Slovakia, the poorest of the 16 countries that use the euro, last month ruled against contributing 816 million euros ($1.05 billion) to a 110 billion euro bailout fund for Greece.
Deputies said taxpayers in a country that has kept its debt under control should not have to bail out a profligate one.
Slovakia's new right-leaning government opposed taking part in the bailout despite a pledge by the previous administration to support Greece, where the budget deficit had ballooned so much that it threatened the stability of the euro zone.
Greek Finance Minister George Papaconstantinou told Reuters: "It is a bad signal for the EU as a whole."
The criticism of fellow EU member Slovakia was unusually blunt, and diplomats also expressed shock at Slovakia's decision.
"I am just appalled and shocked that a country can behave like that. It is such a flagrant act of not being united and being responsible for our 'common destiny' in the euro area," said a senior EU diplomat who asked not to be named.

LESS SOLIDARITY NOW IN BUDGET TALKS?

The euro zone's 16 finance ministers, who were meeting on the second day of talks on budget reform involving the 27 EU countries, were expected to cut the total amount available for Greece by the amount Slovakia had been expected to contribute.
Asked whether he felt isolated, Slovak Finance Minister Ivan Miklos said late on Monday: "No, I don't. At least, not yet."
EU Economic and Monetary Affairs Commissioner Olli Rehn discussed the issue with Miklos on the sidelines of the ministers' meeting.
"It (the decision on granting aid to Greece) was a crucial decision at a critical moment to safeguard financial stability in the euro area, including Slovakia," Rehn told reporters.
"We expect that all EU member states ... will respect the commitments they have undertaken by unanimity."
Jose Manuel Barroso, president of the EU's executive European Commission, said in a speech on Tuesday that solidarity was vital in such a tough economic climate. [ID:nLDE6860MM]
EU diplomats say that some rich EU countries may now be less willing to show solidarity in negotiations on the bloc's next long-term budget for 2014-2021.
About one third of the EU's budget, now worth some 130 billion euros ($167.3 billion), is spent on aid to poor regions, mostly in central and eastern Europe, including in Slovakia. [ID:nLDE6850QM]
EU Budget Commissioner Janusz Lewandowski, asked whether the Slovak decision would have any impact on budget negotiations, told Reuters: "It will not help."
Another diplomat said: "Slovakia has shot itself in the foot."
"Next time Slovakia comes and wants to call in a favour, people will remember this," a third envoy said.

***
I parenti poveri ...

 

[tommy271]

EU Rehn: Other 14 EMU Members To Cover Slovakia Greece Loans

First Published Tuesday,

7 September 2010 01:15 pm


BRUSSELS (MNI) - The other 14 Eurozone countries will cover Slovakia's share of the E110 billion loan package to Greece after the country refused to participate, European Commissioner for Economic and Monetary Affairs, Olli Rehn said on Tuesday.
Slovakia originally agreed to participate in the E110 billion aid package for debt-laden Greece, but a new Slovak government decided to withdraw that commitment. The country has now said it won't be putting up its share - worth E816 million - to the joint Eurozone-International Monetary Fund package.
Rehn told reporters that he had a "very constructive discussion" with Slovak finance minister Ivan Miklos.
"We discussed the conditional loan package for Greece and I underlined how important it was," Rehn said. "It was the crucial decision taken at a critical moment," he added, saying it was vital for all Eurozone members to participate in the solidarity action.
But Rehn's plea fell on deaf ears, he admitted, saying, "the other 14 (Eurozone members) will cover the share of Slovakia.

(Automatic Trader)

 

[tommy271]

Oggi sul MOT ha perso un punto in apertura e ora di pranzo un'altro punto....ultimo scambio 50.40, si rivedono i 48 nel book...la faccenda si sta facendo di nuovo grigia.....ho dato una sbirciatina su Berlino (46 e mezzo) e richiuso subito.....

Oggi giornata da dimenticare ... venti gelati soffiano sull'Irlanda e, da lì, sulla Grecia.

 

[Imark]

Oggi sul MOT ha perso un punto in apertura e ora di pranzo un'altro punto....ultimo scambio 50.40, si rivedono i 48 nel book...la faccenda si sta facendo di nuovo grigia.....ho dato una sbirciatina su Berlino (46 e mezzo) e richiuso subito.....

I volumi tuttavia fanno un po' ridere: 8k complessivamente scambiati sui mercati tedeschi, 170k qui da noi...

 

[Vet]

I volumi tuttavia fanno un po' ridere: 8k complessivamente scambiati sui mercati tedeschi, 170k qui da noi...

Esatto.....a fare mercato e uno zio e i suoi nipotini

 

[Imark]

I volumi tuttavia fanno un po' ridere: 8k complessivamente scambiati sui mercati tedeschi, 170k qui da noi...

Esatto.....a fare mercato e uno zio e i suoi nipotini

Che poi, scusate, 170k ed 8k sono i volumi: a questi prezzi il controvalore è pari alla metà, se parliamo di soldi....

 

[tommy271]

Che poi, scusate, 170k ed 8k sono i volumi: a questi prezzi il controvalore è pari alla metà, se parliamo di soldi....

Volumi, sul retail, come sempre inesistenti ... però è da un paio di giorni che si scende su tutti i titoli greci, irlandesi, portoghesi.
Un affondo coordinato in vista delle prossime aste portoghesi e sulla questione Anglo-Irish.

 

[g.ln]

Si ferma la discesa?

Si ferma la discesa? Forse! intanto entrato ancora un po' sul 2019 6,5% a 70,34, come avevo postato stamane.
Il 2025 irlandese in picchiata, ma tanto vale rimanere sulla Grecia (come mi sembra abbia scritto Tommy): la barca è unica!
Ciao agli amici dal cuore forte, Giuseppe

 

[tommy271]

EU OKs new financial supervision deal


By PAN PYLAS (AP) – 20 minutes ago


BRUSSELS — European Union nations agreed to create new financial oversight institutions Tuesday, hoping to prevent a repeat of the government debt crisis that nearly left Greece bankrupt and brought the European banking system to its knees.
The union's 27 finance ministers failed to find common ground, however, on the introduction of a levy on banks or on a new tax on financial trading.
The ministers — called Ecofin — decided to establish a new supervisory board over the financial industry and demand a more transparent sharing of government budgetary information — a move prompted by the dubious accounting practices in Greece over the last few years.
The systemic risk board will be chaired by European Central Bank president Jean-Claude Trichet out of Frankfurt. It still needs the formal backing of the European Parliament, but that is expected later this month.
This shows the willingness of European countries to "put behind national interests for the sake of Europe," said Wolfgang Schaeuble, Germany's finance minister.
Belgium's finance minister Didier Reynders, who chaired the meeting, said stricter supervision was one of the most important lessons from the government debt crisis and insisted the deal was necessary now to make sure the new risk board begins work at the start of 2011.
The ministers also approved a second installment of emergency loans — worth euro9 billion ($11.5 billion) — for Greece after the European Commission and the International Monetary Fund praised the country for the efforts it has made since the massive euro110 billion ($140 billion) bailout plan was agreed in May.
Yet common ground could not be found on the introduction of new banking taxes.
Although many countries in the EU have decided to impose a levy on bank profits, there is no Europe-wide agreement about what to do with the proceeds. Germany wants the revenues to be put in a rescue fund to pay for future banking bailouts while Britain wants to use the money for its own budgetary needs.
"I made it clear ... that we did not support proposals for a European resolution fund," said British Finance Minister George Osborne.
The transactions tax, which has been backed by non-governmental organizations, trade unions and politicians, does not look like it's going to get the broad backing within Europe's capitals, even though French President Nicolas Sarkozy said it's going to be a priority when France takes the chair of the Group of 20 countries next year.
Osborne said the problem with the trading tax is the same as it has been since Nobel Laureate James Tobin first proposed it in 1970s — if it's not introduced everywhere, then firms will just move their dealmaking elsewhere to avoid paying the tax.
"I suspect that transaction taxes will be discussed for many decades to come," said Osborne.
Proponents of the measures had claimed they would curb excessive risk-taking and place the financial burden of any rescue package on financial institutions themselves instead of the taxpayer. During the financial crisis, governments across the EU provided financial institutions public support worth an astonishing 16.5 percent of the union's total worth.
Tuesday's Ecofin meeting took place in a less feverish atmosphere than most recent gatherings, when the ministers faced the real prospect of Greece's potential bankruptcy. Only May's massive euro110 billion bailout of the country by its 15 partners in the eurozone and the IMF and a near $1 trillion rescue package to support other embattled eurozone economies helped ease concerns.
Worries about the European economy and its ability to deal with large amounts of government debt have eased further by a recent run of better-than-expected data, progress by Greece in strengthening its bailed-out finances and the results of stress tests on 91 of the EU's banks.
Though the most apocalyptic scenarios discussed a few months ago, such as the collapse of the euro currency, have been put on the back burner, market jitters remain. A report in the Wall Street Journal that the summer's stress tests into 91 EU banks understated some lenders' holdings of potentially risky government debt spooked markets Tuesday — the euro was trading over a cent lower on the day at $1.2750.
Investors know that the government debt crisis could flare up again, particularly as the 16 eurozone governments are set to issue more debt this month than they did in August.
Eurozone governments have bond repayments of euro80 billion ($103 billion) in September, with around euro30 billion ($38 billion) due from Italy alone — and the results of the debt sales will reveal what bond investors think of government finances.
"There are growing concerns about a potential 'round 2' in the eurozone debt crisis as banks and some eurozone governments face a heavy funding schedule," warned Neil MacKinnon, global macro strategist at VTB Capital.

 

[bia06]

Volumi bassi da mesi, -2 secco sugli indicizzati non si vedeva da un po'

Già, concordo Tommy, i volumi sono bassi da mesi ma una botta da -2 punti (-4%) in 4 ore di negoziazione e lettera a 50,9 non si vedevano da tanto......settimana triste non solo per il meteo.

Volumi, sul retail, come sempre inesistenti ... però è da un paio di giorni che si scende su tutti i titoli greci, irlandesi, portoghesi.
Un affondo coordinato in vista delle prossime aste portoghesi e sulla questione Anglo-Irish.