tommy271
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sì, ma attenzione sempre alta
ingsilvio 3 gm "vincere e vinceremo" - Pagina 96 - Forum di Finanzaonline.com
Se il suo timing è lo stesso di questa estate, siamo in buone mani ...
Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (5 lettori)
- Creatore Discussione Imark
- Data di Inizio
- Stato
Se il suo timing è lo stesso di questa estate, siamo in buone mani ...
Grisù
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Ormai sul deficit 2009 potrebbero organizzarci un quiz....
2009 Deficit Could Surpass 14% of GDP
The agency Eurostat could raise its figures on Greek deficit for 2009, which could be above 14% of GDP, according to sources at the Ministry of Finance. Sources say that a possible reduction of deficit, which for 2009 had until now been fixed at 13.6%, would not have a significant impact on the aims of reducing deficit for 2010.
In fact, it has been suspected for some time that the deficit for 2009, that the government of Costas Karamanlis had put at 6% and later 8%, and which eventually exploded at the advent of the socialist government last October, was higher than the 13.6% that appeared in official provisional figures. The Finance Minister, Giorgios Papaconstantinou, had suggested on more than one occasion in the last few months that the deficit could hit 14% of GDP. It may now even reach 14.5%, but the predictability of the revaluation renders insignificant the impact on the now improved targets of deficit reduction for 2010, (7.8% down from 8.1%) and for 2011 (7% instead of 7.6%).
The news released today also coincides with the desire expressed by the government of Giorgios Papandreou to set up a commission of parliamentary inquiry into the economic responsibility for the crisis, a year after it came to power. The year-long period has been marked by silence from Karamanlis over the accusations levelled at him by the government and a large part of the press that he pushed Greece to the brink of bankruptcy by falsifying budget figures, leading to financial difficulties. Karamanlis’ party, New Democracy, reacted to the accusations by criticising Papandreou of aggravating the crisis to political ends, bringing about the conditions for financial difficulties. The debate is becoming ever more heated ahead of November’s local elections, that everyone considers a referendum on the government’s austerity plan.
2009 Deficit Could Surpass 14% of GDP
The agency Eurostat could raise its figures on Greek deficit for 2009, which could be above 14% of GDP, according to sources at the Ministry of Finance. Sources say that a possible reduction of deficit, which for 2009 had until now been fixed at 13.6%, would not have a significant impact on the aims of reducing deficit for 2010.
In fact, it has been suspected for some time that the deficit for 2009, that the government of Costas Karamanlis had put at 6% and later 8%, and which eventually exploded at the advent of the socialist government last October, was higher than the 13.6% that appeared in official provisional figures. The Finance Minister, Giorgios Papaconstantinou, had suggested on more than one occasion in the last few months that the deficit could hit 14% of GDP. It may now even reach 14.5%, but the predictability of the revaluation renders insignificant the impact on the now improved targets of deficit reduction for 2010, (7.8% down from 8.1%) and for 2011 (7% instead of 7.6%).
The news released today also coincides with the desire expressed by the government of Giorgios Papandreou to set up a commission of parliamentary inquiry into the economic responsibility for the crisis, a year after it came to power. The year-long period has been marked by silence from Karamanlis over the accusations levelled at him by the government and a large part of the press that he pushed Greece to the brink of bankruptcy by falsifying budget figures, leading to financial difficulties. Karamanlis’ party, New Democracy, reacted to the accusations by criticising Papandreou of aggravating the crisis to political ends, bringing about the conditions for financial difficulties. The debate is becoming ever more heated ahead of November’s local elections, that everyone considers a referendum on the government’s austerity plan.
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tommy271
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Sentiment On GGB Changes
Jean Claude Trichet and Jean Claude Juncker yesterday expressed their satisfaction concerning the intention expressed by Chinese prime minister that China will buy Greek government bonds.
This boosted the perception that Greek bonds are not that "dangerous."
The statement by Anthony Thomas, Moody’s analyst, that he sees Greece’s progress on fiscal consolidation as "excellent" supported this view.
At the same time, ECB has started to increase its purchases of government bonds from the secondary market, confirming that it does not intent to let a new crisis flare up.
Greek Finance Ministry insisted that the return to the markets before the end of 2011 is not just a wish, and officials point to the gradual drop of GGB/bund below 800 basis points.
At the same time the markets have shifted their attention to Ireland, Portugal and Spain.
In addition, the completion of NBG’s share capital increase is in fact Greece’s first indirect attempt to tap the markets and its successful launch is expected to enhance positive sentiment.
(Capital.gr)
Jean Claude Trichet and Jean Claude Juncker yesterday expressed their satisfaction concerning the intention expressed by Chinese prime minister that China will buy Greek government bonds.
This boosted the perception that Greek bonds are not that "dangerous."
The statement by Anthony Thomas, Moody’s analyst, that he sees Greece’s progress on fiscal consolidation as "excellent" supported this view.
At the same time, ECB has started to increase its purchases of government bonds from the secondary market, confirming that it does not intent to let a new crisis flare up.
Greek Finance Ministry insisted that the return to the markets before the end of 2011 is not just a wish, and officials point to the gradual drop of GGB/bund below 800 basis points.
At the same time the markets have shifted their attention to Ireland, Portugal and Spain.
In addition, the completion of NBG’s share capital increase is in fact Greece’s first indirect attempt to tap the markets and its successful launch is expected to enhance positive sentiment.
(Capital.gr)
tommy271
Forumer storico
Greece ‘regaining trust’
In Brussels PM hails China deals, but in Athens PASOK has regional election strife
Greece’s agreement for further cooperation with China is a sign that the country is regaining its international credibility, Prime Minister George Papandreou said yesterday in Brussels, as the trustworthiness of his government on the domestic stage took another blow when it had to replace one of its candidates for local elections after it was revealed that the office seeker had been charged in connection with an alleged property scam.
Speaking on the sidelines of the EU-China summit in the Belgian capital, Papandreou presented the deals agreed to last weekend by Athens and Beijing as proof that Greece is beginning to recover from the economic crisis and that its partners can trust the country again. “The visit by the Chinese premier [Wen Jiabao] was a vote of confidence, not only in Greece but in Europe and the euro,” said Papandreou at the end of the meeting, during which Europeans urged China for a faster appreciation of its currency to help rebalance the world economy.
However, presented with an opportunity to address foreign journalists, Papandreou was keen to focus on the strides that Greece has made over the last few months. “A year ago, we were on the edge of a precipice, but today the effort and sacrifices of the Greek people are helping us rebuild trust internationally. Greece is not the same country it was last year.”
Papandreou also met with Indian Vice President Mohammad Ansari on the sidelines of the talks in Brussels. The two men discussed possible cooperation between the two countries in the areas of tourism, technology, shipping and culture. Papandreou was then due to fly to Belgrade for further talks there.
At home, however, his government was experiencing some turbulence in its preparations for the November 7 local elections, as PASOK’s candidate for deputy regional governor for the Cyclades, Dimitris Bailas, was removed from the race. The move came after Kathimerini published an article reminding readers that Bailas, the current Cyclades prefect, along with five others, had been charged in connection with the construction of dozens of illegal homes on several Cycladic islands.
PASOK announced that it was withdrawing Bailas’s candidacy but dodged questions about why he had been included on the party’s ticket.
(Kathimerini.gr)
Greece’s agreement for further cooperation with China is a sign that the country is regaining its international credibility, Prime Minister George Papandreou said yesterday in Brussels, as the trustworthiness of his government on the domestic stage took another blow when it had to replace one of its candidates for local elections after it was revealed that the office seeker had been charged in connection with an alleged property scam.
Speaking on the sidelines of the EU-China summit in the Belgian capital, Papandreou presented the deals agreed to last weekend by Athens and Beijing as proof that Greece is beginning to recover from the economic crisis and that its partners can trust the country again. “The visit by the Chinese premier [Wen Jiabao] was a vote of confidence, not only in Greece but in Europe and the euro,” said Papandreou at the end of the meeting, during which Europeans urged China for a faster appreciation of its currency to help rebalance the world economy.
However, presented with an opportunity to address foreign journalists, Papandreou was keen to focus on the strides that Greece has made over the last few months. “A year ago, we were on the edge of a precipice, but today the effort and sacrifices of the Greek people are helping us rebuild trust internationally. Greece is not the same country it was last year.”
Papandreou also met with Indian Vice President Mohammad Ansari on the sidelines of the talks in Brussels. The two men discussed possible cooperation between the two countries in the areas of tourism, technology, shipping and culture. Papandreou was then due to fly to Belgrade for further talks there.
At home, however, his government was experiencing some turbulence in its preparations for the November 7 local elections, as PASOK’s candidate for deputy regional governor for the Cyclades, Dimitris Bailas, was removed from the race. The move came after Kathimerini published an article reminding readers that Bailas, the current Cyclades prefect, along with five others, had been charged in connection with the construction of dozens of illegal homes on several Cycladic islands.
PASOK announced that it was withdrawing Bailas’s candidacy but dodged questions about why he had been included on the party’s ticket.
(Kathimerini.gr)
IlPorcospino
Forumer storico
Greece ‘regaining trust’
questo è quello che ci vuole: soffiamo Tommy per gonfiare le vele! Ciao
questo è quello che ci vuole: soffiamo Tommy per gonfiare le vele! Ciao
tommy271
Forumer storico
Deficit and debt holes get bigger
Eurostat expected to revise 2009 budget data higher; Moody’s impressed by Greece’s reform efforts
A closer look at 2009 budget data shows even larger holes appearing in Greece’s deficit and debt figures at a time when government efforts to improve the country’s fiscal health are beginning to be noticed.
European Union statistics agency Eurostat is expected to revise significantly higher Greece’s 2009 budget deficit in an announcement expected toward the end of October, a senior government source said yesterday. The same source played down the impact on the 2011 budget, which was unveiled on Monday.
Another source indicated that the 2009 shortfall will rise to 15.1 percent of gross domestic product from 13.8 percent previously stated. The change will also include an upward revision of government debt to 127 percent of annual economic output, versus 115.1 percent previously.
With the fiscal figures for 2009 changing, this raises the questions of whether Greece can meet the ambitious targets set in the 2011 budget plan, which aims to lower the deficit to 7 percent of economic output in 2011 from the stated 7.8 percent this year.
The upward revisions are due to the inclusion of money owed by state companies, such as the Hellenic Railways Organization (OSE), into general government accounts along with financial derivatives, called swaps, conducted by the government, the source added.
Meanwhile, ratings agency Moody’s said yesterday that Greece’s drive to overhaul its public finances is impressive and the risk to the country’s sovereign rating forecast “is to the upside” if the reforms continue. “We’ve been impressed by what the Greek government has done in term of reforms,” Anthony Thomas, a London-based senior analyst at the ratings company, said yesterday at a credit conference in Warsaw, Bloomberg reported. “If that continues, the risk to the forecast is to the upside.”
Moody’s cut Greece’s credit rating to noninvestment grade on June 14 as the country struggled to rein in the euro region’s second-biggest deficit.
Moody’s cited “substantial” risks to economic growth from the austerity measures tied to a 110-billion-euro aid package from the European Union and the International Monetary Fund in downgrading the rating to Ba1 from A3.
The premium that investors charge to hold Greek 10-year bonds rather than those of Germany, Europe’s benchmark, rose 1 basis point to 778 basis points.
(Kathimerini.gr)
Eurostat expected to revise 2009 budget data higher; Moody’s impressed by Greece’s reform efforts
A closer look at 2009 budget data shows even larger holes appearing in Greece’s deficit and debt figures at a time when government efforts to improve the country’s fiscal health are beginning to be noticed.
European Union statistics agency Eurostat is expected to revise significantly higher Greece’s 2009 budget deficit in an announcement expected toward the end of October, a senior government source said yesterday. The same source played down the impact on the 2011 budget, which was unveiled on Monday.
Another source indicated that the 2009 shortfall will rise to 15.1 percent of gross domestic product from 13.8 percent previously stated. The change will also include an upward revision of government debt to 127 percent of annual economic output, versus 115.1 percent previously.
With the fiscal figures for 2009 changing, this raises the questions of whether Greece can meet the ambitious targets set in the 2011 budget plan, which aims to lower the deficit to 7 percent of economic output in 2011 from the stated 7.8 percent this year.
The upward revisions are due to the inclusion of money owed by state companies, such as the Hellenic Railways Organization (OSE), into general government accounts along with financial derivatives, called swaps, conducted by the government, the source added.
Meanwhile, ratings agency Moody’s said yesterday that Greece’s drive to overhaul its public finances is impressive and the risk to the country’s sovereign rating forecast “is to the upside” if the reforms continue. “We’ve been impressed by what the Greek government has done in term of reforms,” Anthony Thomas, a London-based senior analyst at the ratings company, said yesterday at a credit conference in Warsaw, Bloomberg reported. “If that continues, the risk to the forecast is to the upside.”
Moody’s cut Greece’s credit rating to noninvestment grade on June 14 as the country struggled to rein in the euro region’s second-biggest deficit.
Moody’s cited “substantial” risks to economic growth from the austerity measures tied to a 110-billion-euro aid package from the European Union and the International Monetary Fund in downgrading the rating to Ba1 from A3.
The premium that investors charge to hold Greek 10-year bonds rather than those of Germany, Europe’s benchmark, rose 1 basis point to 778 basis points.
(Kathimerini.gr)
tommy271
Forumer storico
Greek 2009 Deficit to be Revised to 15.1%, Kathimerini Says
October 06, 2010, 3:46 AM EDT
By Maria Petrakis
Oct. 6 (Bloomberg) -- Greece’s budget deficit in 2009 will be revised to 15.1 percent of gross domestic product by European Union statisticians, Kathimerini reported, without saying where it got the information.
The gap will be increased from 13.8 percent to include losses of debt of public companies as well as liabilities related to currency swaps, the newspaper said. National debt will also rise to 127 percent of GDP from 115.4 percent of GDP previously, the newspaper said.
A senior finance ministry official told reporters in Athens yesterday that the revision, due by the end of the month, won’t be significant.
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Questi piombano subito sopra la notizia ...
October 06, 2010, 3:46 AM EDT
By Maria Petrakis
Oct. 6 (Bloomberg) -- Greece’s budget deficit in 2009 will be revised to 15.1 percent of gross domestic product by European Union statisticians, Kathimerini reported, without saying where it got the information.
The gap will be increased from 13.8 percent to include losses of debt of public companies as well as liabilities related to currency swaps, the newspaper said. National debt will also rise to 127 percent of GDP from 115.4 percent of GDP previously, the newspaper said.
A senior finance ministry official told reporters in Athens yesterday that the revision, due by the end of the month, won’t be significant.
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Questi piombano subito sopra la notizia ...
tommy271
Forumer storico
Owner of suspect Swiss bank account called in to testify
The magistrate investigating the Siemens cash-for-contracts scandal yesterday summoned a woman who held a Swiss bank account that was allegedly used to transfer slush money from the Greek branch of the German electronics firm. Antonia Markou has been called to give evidence after coming forward voluntarily in 2008, when she claimed that a former friend and then vice president of an organization promoting Greek exports, Dimitris Negris, had asked her to open a bank account at UBS in Geneva in 1993 and to allow then Siemens Hellas general manager Ilias Georgiou to have access to it. More than 4 million German marks (some 2.4 million euros) were transferred through the account until it was closed in 2003, according to the case file, including a payment of 450,000 marks to former Transport Minister Tasos Mantelis. Markou denies knowing that the account was used to make under-the-table payments.
(Kathimerini.gr)
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