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

[tommy271]

Greece: FinMin on updated Memorandum

Πηγή: Express.gr 23/09/10-10:38

ANA-MPA/The briefing of the Parliamentary Economy Committee by Finance Minister George Papaconstantinou on Tuesday included assurances that there shall be no transfer of food and public utilities (DEKO) invoices to the higher VAT rate and a promise on the tabling of a bill on the reshaping of the tax receiving system in October.
Papaconstantinou appeared optimistic over the achievement of the targets of monetary adjustment that have been set by the end of the year and reassured that there shall be no new negotiating of the Memorandum, but its adjustment every three months.
In the same framwork of fiscal transparency and control, the new Budget will include for the first time an appendix on the course of public utilities and all ministries will be obliged to make a register on the assumption of commitments, to avoid the phenomenon of their accumulation without fiscal coverage.

 

[tommy271]

Greek 'diaspora' bond plan ready end

September 23, 2010


Greece's plan to sell 'diaspora' bonds to tap Greek money abroad will be ready by the end of this year, the head of the country's debt agency (PDMA) said on Thursday.

"The programme will be ready towards the end of 2010," PDMA Chief Petros Christodoulou told Reuters. He did not provide further details.

Greece is keen to return to markets after falling into a debt crisis last year, when its budget deficit hit 13.6 percent of GDP, driving borrowing costs to prohibitive levels and prompting a 110 billion euro ($140 billion) bailout from the International Monetary Fund (IMF) and its euro zone peers.

The plan to tap Greeks abroad was unveiled by Finance Minister George Papaconstantinou earlier this month.

Athens has been encouraged by its short-term borrowing sorties this month, when it kicked off a plan of monthly sales of T-bills, switching from quarterly issues.

Foreign take-up picked up in the last two auctions, with 72 percent of Tuesday's 3-month T-bill issue going to investors abroad and the yield easing for the first time since the debt crisis broke.

Greece paid 3.98 percent to raise 390 million euros, below the 5.0 percent borrowing rate it secured via the EU/IMF funding package.


(Financial Mirror.com)

 

[tommy271]

Grecia: i camionisti non mollano


Resta l'assedio di Atene e Salonicco con oltre mille camion



(ANSA) - ATENE, 23 SET - I camionisti greci, che da 11 giorni scioperano contro quella che definiscono la liberalizzazione della professione, non mollano. Mantengono la mobilitazione intorno a Salonicco e Atene con oltre mille camion. Nella notte tolti i blocchi stradali che hanno interrotto ieri le grandi vie di comunicazione nazionali dopo l'approvazione da parte del parlamento della contestata legge sulla liberalizzazione del settore. Ma gli autotrasportatori si riservano eventuali nuove azioni a sorpresa.

 

[tommy271]

FTSE: ATHEX Keeps Its Advanced Market Status



Athens Exchange will keep its developed market status, FTSE said Thursday.

The firm notes that the Greek equity market will remain in its watch list until September 2011.

(Capital.gr)

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Una buona notizia.

 

[tommy271]

No summer break for job woes

Figures show 12,130 positions lost in August; contract workers, long-term unemployed suffer most

By Christina Kopsini - Kathimerini


One out of two workers who lost their job in August was hired for a specific time period on a contract that was not renewed.
In the same month, the Manpower Organization (OAED) showed that 12,130 jobs were lost compared to the same period a year earlier. Half of those who lost their jobs applied for unemployment benefits from OAED.
Just over one in three, 35.13 percent, who looked for another job via the state employment office lived in the Attica region. The percentage is also particularly high in central Macedonia, at 20.63 percent.
Contract workers, the long-term unemployed, workers aged between 35 and 45 and those from central and eastern Macedonia are proving to be the ones hardest hit by the crisis, which is spreading to all parts of the labor market.
Figures provided yesterday by OAED showed that 648,032 people were unemployed while confirming that all sectors and social groups are seeing jobs vanish at a fast pace.
The number of businesses that shift full-time workers to a part-time basis is also on the up. Additionally, sectors such as banking have started to cut salaries and other benefits provided to their staff. Even if no merger activity takes place in the sector, as widely expected, a head-count reduction is likely to occur as of January, particularly at branches where staff demands have fallen in the last 18 months.
Deteriorating conditions are also contributing to uncertainty over the future of the 13th and 14th monthly salary paid to Greek workers for the Easter, summer and Christmas periods.
One large business group, which has seen profits plunge recently, suggested to its workers either reducing the amount paid from the two extra months or even temporarily suspending the payments in a bid to save 100 jobs from being axed. The two sides have not reached an agreement so far.
Out of the 648,032 people on OAED’s jobless list, some 78,810 are not actively looking for work, resulting in the number of people job hunting falling to 569,222. Those employed on open-ended work agreements – an employment contract that is not limited to a specific time period – have proven to be more resilient to the downturn.


(Kathimerini.gr)

 

[tommy271]

Banks told to ease loan restrictions


By Dimitra Manifava - Kathimerini


Regional Development and Competitiveness Minister Michalis Chrysochoidis called on banks to turn on the lending tap for businesses yesterday.
Speaking at an event organized by the National Confederation of Greek Commerce (ESEE), the minister described the banking system as old and spoke about dated and unsuitable financial tools being used by lenders.
He also referred to the government’s intention to secure a liquidity agreement with lenders in order to channel money into the market where needed.
ESEE president Vassilis Korkidis said he believes banks have started to approach businesses, adding that they “were at risk of not having any clients left with the position they were adopting.”
Banks have been rejecting eight in 10 loan applications, added Korkidis.
On the trade front, ESEE’s president predicted that business conditions this winter will be the harshest in 20 years.
Data presented by ESEE showed that one in four businesses are shutting down and retailers are seeing a drastic drop in turnover, particularly among clothing and footwear stores.
The number of people employed in the sector in the second quarter of the year fell to 801,000 from 828,000 in the same period a year earlier.
Data also showed that a number of those running retail businesses had decided to throw in the towel. The number of employers in the April-to-June period fell 13.2 percent, while the drop among the self-employed reached 6.2 percent.

(Kathimerini.gr)

 

[tommy271]

PPC bid

Public Power Corporation (PPC), Greece’s largest power utility, has submitted a formal bid to build four hydropower plants in Bosnia’s Serb Republic, an Energy Ministry official said yesterday. Ten firms bought the tender documentation from regional utility Elektroprivreda RS to build the plants but only PCC submitted a formal bid for the project worth an estimated 273.2 million euros ($363.1 million), said Ljubo Glamocic, an Energy Ministry official for the autonomous region of Bosnia. The tender includes the construction of three hydropower plants on the Drina River and one on the Sutjeska River in the east of the country, with a combined capacity of 165 megawatts and annual output of 553 gigawatt-hours, he said. Glamocic said a special panel would evaluate the bid and present it to the Serb Republic government, which would then decide whether to start negotiations with PCC.

(Reuters)


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Sempre buone le relazioni tra Grecia e Serbia.

 

[tommy271]

Greek stock market...



Hellenic Exchanges CEO Spyros Capralos was cited by several news agencies as saying yesterday that the Greek stock market will keep its developed-market status but remain on index compiler FTSE’s watch list for a possible downgrade for another year. Greece, which gained mature market status in 2001 after joining the eurozone, has faced a possible change in classification to advanced emerging. FTSE first placed Greece on watch for possible demotion in 2006.

(Kathimerini.gr)

 

[tommy271]

PDMA: ‘Disapora’ Bond Plan Ready By End Of 2010



Greece΄s plan to sell ΄diaspora΄ bonds will be ready by the end of this year, the head of the country΄s debt management agency (PDMA) said on Thursday.

"The programme will be ready towards the end of 2010," PDMA Chief Petros Christodoulou told Reuters.

He did not provide further details.

Finance Minister George Papaconstantinou said earlier in September that Greece would use ‘diaspora’’ bonds to tap Greek money abroad.

(Capital.gr)

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Altro liquido in arrivo ...

 

[tommy271]

A “Second Package” Coming For Greece?



Greece’s Finance Minister Wednesday met with his German counterpart with the possibility of extending the EUR110 bil. support package being on the agenda.

According to diplomats in Brussels, discussions are already advancing on a technocratic level and several alternatives are being considered. A government official unofficially confirmed the the existence of such consultations with the troika.

The most likely form of extending the support package will be the acquisition (by either the ECB or by the EUR440 bil. European Stability Fund) of government securities falling maturing in the 2013 to 2015 period, when interest payments will absorb more than 8.5% of GDP.

These bonds would be "exchanged" with 20 or 25-year paper with lower interest that will require smaller interest payments in this period.

A second alternative proposed by former executives of the IMF is using Brady Bonds type of paper for "recycling" long term government bonds that can not be refinanced through the international capital markets.

The debate on whether to grant a "second package" (with whatever form) has intensified in recent years.

And this has to do with the "problems" registered in hitting the Memorandum targets and the apparent deterioration in international capital markets. This situation is putting the borrowing costs of Ireland, Portugal, Spain and Greece under pressure.

(Capital.gr)

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Da leggere.