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

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..mah! ce la stanno mettendo tutta per creare in clima di distensione sulla vicenda greca...
..
e' difficile pensare che tra 6/12 mesi possano tornare i tempi bui che abbiamo vissuto nel recente passato.

In questi momenti è difficile immaginare un ritorno ai "tempi bui" ..., però tutto è possibile.
Il quadro macroeconomico è in fase di miglioramento: a questo punto bisognerà spingere al massimo sugli investimenti per far ripartire l'economia e raddrizzare il PIL.
Credo siano più importanti gli accordi di cooperazione economica (Cina, Qatar) che i futuri acquisti dei bond.
Questi ultimi anticiperanno poi i saldi positivi.
 
Greece sees GDP shrinking 2.6 pct in 2011- budget


ATHENS | Mon Oct 4, 2010 9:05am EDT



ATHENS Oct 4 (Reuters) - Greece expects the economy to contract by 2.6 percent next year after a 4.0 percent slump in 2010, staying in recession for a third straight year, the country's draft budget showed on Monday. The government will aim to grow revenues by 8.2 percent next year form 10 percent in 2010 and projects spending to go up by 1.5 percent due to higher interest payments on public debt. It expects spending cuts of 7.6 percent this year.
 
eehhh!! mi vien da ridere!!.

gli europei vogliono la botte piena e la moglie ubriaca...:D






Eurolandia:nuovo appello a Cina su yuan

Divisa cinese deve essere rivalutata velocemente

04 ottobre, 15:10
Guarda la foto 1 di 1


cb9184c78269392c638b9d40a3649d49.jpg
(ANSA)-BRUXELLES,4 OTT - Incontri al vertice a Bruxelles tra le autorita' di Eurolandia e quelle cinesi per affrontare la questione del tasso di cambio dello yuan. I vertici della zona euro, infatti, considerano la divisa cinese troppo debole rispetto all'euro. Lanceranno cosi' l'ennesimo appello: Pechino deve assumersi le sue responsabilita' rivalutando velocemente lo yuan, perche' ogni moneta dovra' riflettere i fondamentali dell'economia.
 
Greece proposes more austerity in 2011 budget


(AP)


ATHENS, Greece — The Greek government proposed more austerity in the draft budget for 2011 that it submitted Monday as it tries to trim the deficit further to meet the conditions of an international bailout.
The government aims to trim the deficit to 7 percent of gross domestic product by the end of next year — lower than the 7.6 percent target set by the terms of the rescue package by the International Monetary Fund and eurozone countries.
Finance Minister George Papaconstantinou had pledged not to impose any further salary cuts on civil servants in the budget. But more austerity is in store for Greeks as the government continues its efforts to trim a deficit that reached nearly 14 percent of GDP last year.
According to the budget submitted to Parliament, the government predicts it will have cut the deficit to 7.8 percent of GDP by the end of this year, better than the 8.1 percent target that was part of the conditions for Greece to receive an international bailout package.
 
Greece Aims to Cut Deficit to 7%


By NICK SKREKAS

ATHENS—Greece would cut its budget deficit to 7% of gross domestic product, ahead of the 7.6% target sought by international lenders, under a draft 2011 budget announced Monday by the finance ministry.
The country's fiscal gap in 2011 would be €16.35 billion ($23.53 billion), down from €18.5 billion this year, according to the documents.

In May, the debt-strapped Mediterranean nation promised to cut its budget deficit from 13.6% of GDP in 2009 to 8.1% by the end of this year in exchange for a €110 billion bailout from the International Monetary Fund and the European Union. The draft projects that the 2010 budget deficit will come in at 7.8% of GDP, better than the 8.1% target under the IMF-EU memorandum.
The Greek government has had to impose unprecedented austerity measures—including wage and pension cuts, in addition to increases in VAT and excise taxes—which have led to widespread protests.
The 2011 draft budget continues these austerity policies. It predicts revenue will rise 6.9% on a year-to-year basis to €56.3 billion, and expects spending will fall 5.9% to €67.5 billion.

The government will again impose the extraordinary tax on profitable Greek companies in 2011 for earnings derived within the country. This is expected to again hit the bottom line of listed companies, but the state hopes the measure will raise €1 billion in revenue.
By widening the tax base and raising certain goods and services to higher VAT-tier ratios, the government expects to collect another €1 billion. New betting licenses and royalties are expected to bring in a further €700 million to state coffers in 2011.

On the cost side, the public service is expected to cut a further €400 million. Savings from merging and streamlining local governments, and creating a unified civil-service payment agency will save €500 million and €100 million respectively.
There will also be a €300 million cut in state funding to the public-investment program. Local businesses had hoped this program would inject cash and stimulus to the recession-hit economy and alleviate the impact of higher unemployment.
The budget forecasts that the Greek economy will contract by 2.6% in 2011 after a fall of 4% in 2010. The general-government-debt-to-GDP ratio will increase to 145% in 2011, while GDP next year is expected to reach €232 billion at constant prices.
"The primary budget deficit will be virtually erased in 2011 as a percentage of GDP, coming in at €288 million," the finance ministry added.



(The Wall Street Journal)
 
GRECIA: NEL 2012 DISOCCUPAZIONE RAGGIUNGERA' 15%

(ASCA-Afp) - Atene, 4 ott - In Grecia nessun miglioramento del mercato del lavoro nei prossimi due anni, e' quanto prevede la bozza della legge finanziaria per il 2011 presentata oggi dall'esecutivo di Atene.

Il tasso di disoccupazione salira' nel 2011 al 14,5% e nel 2012 al 15%, tornera' a flettere solo nel 2013 al 14,6%. Nel 2011 il paese rimarra' in recessione con un contrazione del Pil pari a -2,6%, comunque in miglioramento dal -4% del 2010.
 
Grecia/Migliora stima deficit 2011:7% Pil,ma recessione prosegue. Governo presenta progetto bilancio, sul 2011 prevede Pil -2,6%


Atene, 4 ott. (Apcom) – Revisione in meglio in Grecia sul disavanzo di bilancio atteso nel prossimo anno: il deficit si fermerà al 7 per cento del Pil, secondo il progetto di bilancio presentato oggi dal governo. Il dato è inferiore al 7,6 per cento di deficit-Pil indicato da unione europea e fondo monetario internazionale come obiettivo, nell’ambito del piano multimiliardario di aiuto concesso nei mesi scorsi alla penisola ellenica. Sempre sul 2011 il governo greco si attende un nuovo anno di recessione economica, con un Pil in calo del 2,6 per cento. (fonte Afp)
 
Goldman Sachs Raises Price Estimates For 30yr GGB



Goldman Sachs Group. told investors they should hold on to Greek 30-year bonds because their price will rise higher than a previous forecast, Bloomberg reports.

Investors should aim for the price of the paper to reach 65, analysts including London-based economist Kevin Daly said in an e-mailed note today.

An earlier estimate was for the price to reach 60, according to a Sept. 8 note.

(Capital.gr)

***
:lol::lol::lol: ;).
 
Il tuo discorso è giusto, pero in caso di default, investendo nei 37/40 la perdita sarebbe minima ai prezzi odierni.
Investendo nelle scadenze 18/20 il taglio sarebbe ovviamente maggiore, a fronte di un'apprezzamento più veloce e maggiore dei corsi dai prezzi di questi giorni.

Quindi direi che la scelta di un 37/40 potrebbe essere più "difensiva", se mi passate il termine.


Se ho capito bene il tuo ragionamento che condivido perche non considerare i 2 GGBEI a tasso variabile 2025 e 2030?
Per l'inferiore rendimento cedolare suppongo.
 
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