Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (12 lettori)

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tommy271

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Papandreou: Social state is not the problem


OSLO (ANA-MPA / G. Milionis) - Prime Minister George Papandreou, speaking during a discussion here on Monday at the 15th Oslo Conference, reiterated that the problem of the current economic crisis is not the social state.
This year's high-end conference focused on the theme of "The challenges of growth, employment and social cohesion", organised by the International Labour Organization and the International Monetary Fund (IMF).
The Greek prime minister emphasised that democracies can handle challenges and pointed out that "oxygen must be given to institutions" through the combating of a lack of transparency and corruption, while on the question of deficits and debts, he said that their handling constitutes responsibility, but at the same time there should be growth and an increase in employment.
Papandreou said the tackling of climate change through the turn of the production model to a "green" economy will bring about growth and jobs and noted that Greece is an "ideal place" for the development of "green" investments.
He also referred to the measures taken by the government, saying that they have the citizens' support, despite the fact that there were cutbacks in salaries and pensions.
Outlining his proposals, Papandreou underlined the need for "training the citizens in the new economy."
The prime minister reiterated his proposal on the funding of "green" growth through "economic tools", such as the "green" bonds, the Tobin tax and the coal tax.
Giving examples of the possibilities that are created with the turn to the "green" economy, Papandreou said that the improvement of buildings' energy performance gives jobs and, referring to photovoltaic systems, he said that they are becoming more and more popular "since we are taxing heating oil."
The Greek prime minister further said that even huge regions such as the Sahara, if utilised through the "green" economy, could, for example, provide Europe regarding energy.
On the question of the younger generations in Greece, as well as the trend being noted of abandoning the country, Papandreou said that in Greece "there is a highly specialised (professionally and scientifically) youth, there are also those who leave" and underlined that "pessimism must be dealt a blow and we must tell young people 'take the country in your hands and change it'."
The Greek prime minister mentioned that new methods of governance are required, as well as a change in a series of life models, such as of the consumer one, adding that "young people realise these and are prepared."
Papandreou concluded by saying that "we must teach young people to use knowledge as a tool to add value to all that they do and we must support their initiatives."
 

tommy271

Forumer storico
PM PAPANDREOU IN NYC

Mr. Papandreou will visit USA from the 18th to September 23rd. During his meetings, he will meet with military officers of the Greek-American community, Academics of a Greek origin and people from the culture area. On September 21st, Mr. Papandreou will meet the Vice- President of the United States, Mr. Joe Biden.Also, he will be present and speak at the Summit for the developing targets of the New Millennium and he will speak at the official opening of the 65th General Assembly of the United Nations.
On Sunday, he is invited to a meal in Wall Street with the attendance of the Wall Street’s President and its most significant members. There, he will have the chance to present and explain the developing and investment program of the Greek government .In the afternoon, he will lead the Socialistic International meeting.
On Wednesday, apart from meetings with foreign leaders, he will speak to the military officers of the Greek- American community, people from the culture area and Academics of a Greek origin, during a reception at the General Consulate of Greece in New York.The same night, Mr. Papandreou will be present at a reception hosted by the ex-president of the United States Mr. Bill Clinton, during the annual meeting of his organization.
On Thursday, Mr. Papandreou will attend the official opening of the 65th General Assembly, during which Mr. Obama will make a statement.For this year, the speaker on the part of Greece will be the Foreign Minister Mr. Dimitris Droutsas. Mr Droutsas will speak on Tuesday September 28th. During his staying in New York, he will meet many of his colleagues and he will chaperon Mr. Papandreou during meetings with foreign leaders. Also, he will represent Greece at the Escort for the small island nations.
Furthermore, he will participate in the meetings of NATO and European Union with USA and Russia.


(Greek Reporter.gr)
 

tommy271

Forumer storico
STOLTENBERG SAYS GREECE WON'T DEFAULT, SEES IMF PROGRAM WORKING



Sept. 13 (Bloomberg) -- Norway's Prime Minister Jens Stoltenberg said he doesn't expect Greece to default after the country's sovereign wealth fund said its long-term investment horizon allowed it to buy up the debt-laden country's bonds.
"The International Monetary Fund assessment is that they are on track," Stoltenberg said today in an interview in Oslo. "Of course, they have a long way to go, but they are on track; they have started the adjustments." Asked whether he expects the country to default he answered "no."
Norway's $450 billion Government Pension Fund Global last quarter bought debt from Greece, Spain, Italy and Portugal, it said in August. Finance Minister Sigbjoern Johnsen said last month the fund's long-term view allows it to take on more volatile holdings and that he supports the risk level in its portfolio. The fund's Chief Executive Officer Yngve Slyngstad told Bloomberg on Aug. 13 that peripheral European debt represents a good risk-return ratio.
The yield spread between Greek and German 10-year benchmark debt has narrowed to about 880 basis points after soaring higher than 900 basis points last week. Spanish and Italian spreads to German notes have also narrowed. A basis point is 0.01 percentage point.
Norway expects other peripheral European Union economies to pick up. Johnsen said today that Spain's economic prospects are improving as the oil fund adds that country's securities.
"The fact that the employment rate hasn't deteriorated as one would estimate when you look at the unemployment figures alone, it is in my view a very positive sign," Johnsen said.
According to Pacific Investment Management Co., which runs the world's biggest bond fund, Greece and other peripheral European debt are too risky. "I see it as being quite a substantial risk that Greece eventually defaults or restructures," said Andrew Bosomworth, Pimco's Munich-based head of portfolio management, in a Sept. 6 interview.


 

tommy271

Forumer storico
ECB bond buying signals new strains

By David Oakley
Published: September 13 2010 18:50 | Last updated: September 13 2010 18:50



The European Central Bank bought €237m of government bonds last week – the biggest amount since the middle of August – in a sign of continuing problems in the eurozone.
Although the intervention is relatively small and in the millions rather than billions of euros, the fact that the ECB has had to step up its purchases highlights increasing volatility as investors fear that the eurozone debt crisis is far from over.
Traders said the ECB bought Greek, Portuguese and Irish bonds last week as the extra premium these so-called peripheral eurozone markets have to pay in interest rates over Germany rose because of deteriorating sentiment.
The extra premium – or yield spread over Germany – Portugal and Ireland have had to pay in interest rates for 10-year bonds hit record levels last week.
This spread widening comes as borrowing from the ECB by banks in the peripheral economies of Portugal, Spain, Ireland and Greece rises because of the refusal of investors to buy the debt of these countries and their banks.
John Wraith, fixed income strategist at BofA Merrill Lynch Global Research, said: “The wider a country’s spread against Germany, the more risk it is perceived to have. This can make it harder for banks in these countries to access the wholesale markets.”
The extra premium Portugal and Ireland have had to pay over Germany has surged to record levels above 3 percentage points, while Greece has to pay an extra 9 percentage points.
Mr Wraith warns these spreads could widen further in the coming weeks amid worries that the debt problems of the weaker economies could hold back growth and spark fears of more financial bail-outs.
So far, only Greece has had to turn to the international community for help, but worries persist that Portugal or Ireland may have to go down the same route as Athens. These worries are likely to prompt more intervention by the ECB in coming weeks, particularly as the outlook over the global economy remains uncertain.
It is also significant that, in recent days, most of the ECB’s intervention in the bond markets, which so far totals €61bn in purchases since the support began on May 10 this year, has been in Greek, Portuguese and Irish bonds.
The Spanish bond market, which had been in the spotlight because of worries over its banks, has not needed the support of the central bank in recent days after stabilising, say traders.
Investors have stopped shunning the Spanish bond markets as confidence has risen in Madrid following the announcement of reforms to the cajas, savings banks, which have suffered due to their exposure to the country’s ailing property market.


(Financial Times)
 

tommy271

Forumer storico
Un pò di aria fresca ... :cool:
La settimana si è aperta bene con un sensibile calo degli spread/bund sul decennale. D'altra parte la settimana è tutta votata all'offensiva: si iniziano a tenere le aste dei Bot/Greek a cadenza mensile anzichè trimestrale, il Ministro delle Finanze girerà per l'Europa a presentare le "opportunità" del sistema Grecia, Papandreou infine si recherà a New York dove, tra le altre cose, incontrerà i maggiori esponenti di Wall Street.
Venerdì abbiamo avuto le dichiarazioni di acquisto del Fondo Norvegese accompagnate da dichiarazioni positive del premier di Oslo, qualche timida apertura anche da parte degli "analisti" (se non su tutta la qualità del debito) perlomeno sulle scadenze ravvicinate del prossimo anno. La ciliegina sulla torta è data da una timida ripresa degli acquisti sul secondario da parte BCE, probabilmente principalmente rivolti a Grecia e Irlanda.
Dal punto di vista macroeconomico i dati resi noti in questi giorni sono in sintonia con gli obiettivi prefissati anche se, d'ora in avanti, dovremo guardare di più ai dati della crescita rispetto a quelli di taglio.
Tra parentesi la chiusura di venerdì: da segnalare una discesa del Bund.

Grecia 915 pb. (956)
Irlanda 344 pb. (341)
Portogallo 334 pb. (350)
Spagna 173 pb. (175)
Italia 142 pb. (142)
 

tommy271

Forumer storico
GRECIA: PAPANDREOU, SE NON FOSSI STATO PREMIER AVREI MANIFESTATO ANCH'IO

(ASCA-AFP) - Oslo, 13 set - Il primo ministro greco Georges Papandreou ha affermato di capire le ragioni dei manifestanti che sono scesi in piazza lo scorso sabato a Salonicco contro il piano di austerity del governo, confidando che lui stesso vi avrebbe preso parte se non fosse stato il capo del governo.

''Avrei potuto essere uno dei manifestanti se fossi stato un semplice cittadino'', ha ammesso il Premier da Oslo, nel corso di una conferenza congiunta del Fondo monetario internazionale (FMI) e dell'Organizzazione internazionale del lavoro (OIT) sulle 'sfide della crescita, dell'impiego e della coesione sociale'.

''Le cose a volte vengono montate dai media come se tutto stesse crollando'', ha detto Papandreou. ''Penso che sia un elemento costitutivo delle nostre democrazie''. Il primo Ministro ha poi sottolineato che ''il filo del dialogo tra datori di lavoro, salariati e autorita' non e' stato interrotto''. Cio', secondo lui, permettera' di ''risensibilizzare la popolazione'' e di mobilitarla per tentare di uscire dalla grave crisi economica che sta prostrando la Grecia.
 

tommy271

Forumer storico
Attualmente solo il 4% dell’energia prodotta proviene da fonte solare o eolica
Rinascita verde per la Grecia: sbloccati 2 mld per le rinnovabili


L’Autorità nazionale per l’energia ha annunciato di aver sbloccato circa 2 miliardi di euro in progetti per la produzione di energia da fonti pulite, oltre all’intenzione di accelerare tutte le procedure per la concessione di nuove licenze per l’istallazione di impianti rinnovabili




(Rinnovabili.it) – Le intenzioni erano chiare già alla fine dello scorso luglio, quando il ministro dell’ambiente ellenico aveva annunciato un importante piano di investimenti pubblico-privati per finanziare i comparti ambiente e le rinnovabili nel Programma di sviluppo per l’economia reale della Grecia. Ora la nazione, che sta cercando faticosamente di lasciarsi alle spalle la pesante eredità della crisi economica, sembra aver fatto un ulteriore passo in avanti ed ha annunciato di aver sboccato progetti “rinnovabili” per un totale di 2,1 miliardi di euro. Il Paese sta cercando proprio di puntare sul settore della produzione di energia da fonti pulite per attrarre investimenti e cercare di risanare i conti dello Stato le cui casse sono ancora pesantemente a corto di liquidità. La Grecia, quindi, sta offrendo alle aziende che producono energia da fonti rinnovabili dei sussidi, anche se è la stessa burocrazia e un meccanismo incentivante distorto ad aver portato all’accumulo di progetti da 40 GW, più che alla costruzione di nuovi impianti.
L’Autorità nazionale per l’energia, la RAE, ha comunque annunciato di aver dato il via libera la scorsa settimana all’approvazione di diversi programmi di produzione di energia verde in tutta la nazione, per una capacità totale pari a 840 MW, e ha promesso di accelerare tutte le procedure di concessione per la realizzazione di ulteriori progetti. In un comunicato ufficiale l’Authority ha specificato di avere fatto tutto ciò che era possibile, fino a questo momento, per aprire la strada alla concessione di nuove licenze. Sebbene la Grecia sia uno tra i Paesi più ventosi e soleggiati in Europa, l’energia eolica e solare prodotte entro i confini nazionali rappresentano solo il 4% dell’energia totale prodotta, mentre più del 60% dell’energia è ancora prodotta dalla combustione della lignite, una delle varietà più inquinanti di carbone. L’obiettivo del governo greco è arrivare ad una produzione del 40% di energia pulita entro il 2020.
 

tommy271

Forumer storico
CAMIONISTI CONTRO GOVERNO: NUOVO BRACCIO DI FERRO IN GRECIA

I camionisti greci accolgono i controlli sul piano di risanamento del deficit del paese, incrociando le braccia. Nel giorno della cruciale visita degli ispettori internazionali, gli autotrasportatori tornano a scioperare contro la liberalizzazione del settore.
“Il governo ci sta togliendo tutto – dice uno di loro -. Sta trasformando in carta straccia le nostre licenze. Ci costringeranno a cercare lavoro in qualche azienda. Stanno espellendo dal settore i veri professionisti”.
Come già in occasione di una simile mobilitazione alla fine di luglio, il timore di uno stop ai rifornimenti si traduce in lunghe code alle pompe di benzina.
Al centro della protesta a oltranza la liberalizzazione delle licenze voluta dal governo Papandreu: riforma considerata chiave, per mantenere le promesse di risanamento e ottenere l’erogazione del maxi-prestito da centodieci miliardi di euro.
E proprio per verificare i conti, in vista dello sblocco della terza tranche, gli ispettori di Fondo Monetario Internazionale, Banca Centrale Europea e Unione Europea sono da stamane al lavoro ad Atene.


(Euronews.net)
 
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