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

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E' proseguito anche ieri con i soliti 30 pb. il restringimento degli spread/bund sui nostri ellenici. Sono ormai tre settimane che il movimento prosegue con sedute positive: è vero che la strada per la risalita da percorrere è tanta, non meravigliamoci se dovesse palesarsi un improvviso storno anche pesante.
Ricordiamoci che partiamo da una realtà che segnalava oltre 950 pb. di allargamento a settembre.
Comunque, per sicurezza, meglio entrare nelle fasi di risalita dei corsi piuttosto che in quelle di discesa...

La curva dei rendimenti ha quasi preso la sua giusta conformazione, rimangono disallineamenti che i trader cercheranno di sfruttarli al meglio.
Dobbiamo osservare che, nonostante i volumi siano aumentati sul nostro mercato intorno alla decina di milioni scambiati, i titoli risultano poco liquidi con scambi esigui. Salvo su qualche titolo.

Il resto del gruppo respira un pò l'aria positiva, specie sul Portogallo che tenta qualche azione offensiva. Italia e Spagna ritracciano di qualche punto mentre l'Irlanda rimane sempre su una china pericolosa.

Grecia 670 pb. (697)
Irlanda 427 pb. (425)
Portogallo 395 pb. (409)
Spagna 174 pb. (177)
Italia 145 pb. (147)
 
Il premier turco in visita ad Atene il 22 ottobre


La Grecia ha fatto appello alla Turchia per dare una svolta decisiva verso la costruzione di un dialogo amichevole.
In particolare il ministro degli esteri greco Grigoris Delavekouras chiede che alle parole seguano i fatti, e che Ankara smetta di violare lo spazio aereo greco. Secondo Atene una flotta di otto aerei turchi sarebbe entrata illegalmente nei cieli greci.
Questo potrebbe compromettere le relazioni fra i due Paesi in vista della visita del premier turco Recep Tayyip Erdoğan il prossimo 22 ottobre. Il primo ministro ha da poco proposto di disarmare le rispettive flotte aeree che sorvolano l'Egeo.
Quella tra Grecia e Turchia è una relazione cruciale per i prossimi equilibri europei, che si gioca su molti punti caldi, tra cui Cipro.


(Peacereporter.net)
 
Grecia:ferrovieri in sciopero per 24 ore

Contro la parziale privatizzazione della compagnia di stato Ose

14 ottobre, 07:35

(ANSA) - ATENE, 14 OTT - I ferrovieri greci sono oggi in sciopero per protestare contro la parziale privatizzazione della compagnia di stato Ose. Lo sciopero di 24 ore, preceduto ieri da una sospensione di tre ore, riguarda tutti i collegamenti ferroviari interurbani e suburbani e coincide con l'arrivo in parlamento del disegno di legge che prevede una riorganizzazione dell'Ose per ridurre il deficit miliardario e la cessione di una parte ai privati pur mantenendo lo stato il controllo dell'impresa.
 
Greece to hold climate summit; Turkish PM to attend

ÜMİT ENGİNSOY
ANKARA- Hürriyet Daily News


Athens is set to host a climate summit for Mediterranean countries Oct. 22 as part of preparations for next month's world climate summit in Cancun, Mexico, officials said Wednesday.
Prime Minister Recep Tayyip Erdoğan is scheduled to represent Turkey at the summit, as both he and Greek Prime Minister George Papandreou are listed among the keynote speakers of the event, officially called the Mediterranean Climate Change Initiative.
Erdoğan and Papandreou are also expected to discuss bilateral Greek-Turkish matters on the sidelines of the Athens summit, sources said.

Turkish-Greek issues

Erdoğan is committed to improving Turkey’s bilateral relations with Greece and shares the global outlook of his counterpart Papandreou, a senior adviser to Erdoğan said in an interview with the Greek newspaper Kathimerini last week.
"Despite the serious domestic problems that he faces, George Papandreou remains a globalist, as does Erdoğan," Ibrahim Kalin said, adding that the two leaders had developed "a very good relationship."
"The political will is there - the next step is to prepare the public opinion in both our countries," Kalin said. Greek officials have been complaining over what they see as "continued Turkish provocations" in the form of an indirect threat of war and airspace violations.

One especially contentious issue dates back to 1995 when Turkey's parliament issued a "casus belli" against Greece, saying Athens' potential decision to extend its territorial waters from six to 12 nautical miles from the coast would be considered a reason for war. Casus belli is a Latin expression meaning the justification for an act of war.
That legislation still remains in place, and is criticized by Athens. "The long standing threat of war, the casus belli against my country, is unacceptable and has no place in our European and global family of values and principles," said Greek Foreign Minister Dimitris Droutsas in a speech to the United Nations General Assembly in New York on Sept. 29.
But Kalin told Kathimerini: "We do not see Greece as a threat. We did in the past, but not anymore. Now we see Greece as a neighbor and partner." Erdoğan’s adviser said Turkey was in favor of the two countries scaling back their defense spending. “I think the climate [for such a change] is positive,” he said.

Climate talks

The Oct. 22 summit in Athens will be a platform for discussions on environmental dangers and climate change in the Mediterranean region.
Many climate change experts are pessimistic over the outcome of the world summit in Cancun, saying no major progress is expected by key nations to draw up a new climate pact at next month’s Mexico meeting because opinions are still too divided.

Frustration between the world's top two carbon polluters, the United States and China, overshadowed last week's U.N. talks in Tianjin, China, which aimed to resolve differences over the shape of a new climate pact.
Poorer nations have asked the rich to do much more to rein in carbon pollution, while wealthy countries insist on substantial cuts in emissions from major developing countries like China and India.

(hurriyetdailynews.com)
 
Greece Says 11 State Firms Generated EUR1.7 Billion Loss In 2009




ATHENS -(Dow Jones)- The Greek Finance Ministry said Wednesday that the 11 most debt ridden state controlled enterprises generated EUR1.7 billion in losses just for 2009.
The list was revealed as a precondition of the EUR110 billion bailout signed in May with the International Monetary Fund and the European union to stave off the bankruptcy of the cash strapped Mediterranean nation.
In 2009 these 11 organization had EUR1.5 billion in total revenues, but wage costs alone amounted to EUR1.2 billion, since the average workers' earnings stood at EUR40,772, which is almost twice the earnings of the average worker in the Greek private sector.


The net borrowing of these state enterprises for last year totals EUR12 billion, which is eight times higher than their total revenues. Interest charges on the debt amounted to EUR574 million for 2009 and the government spent EUR758 million to subsidize them and backstop the debt that they can't service.


Railway monopoly OSE made the highest loss--EUR933 billion last year--and has accumulated historic debt of EUR10.7 billion. It is slated for privatization as early as next year and the national government will assume many of its assets to offset some of the amassed debt.
Other problematic government controlled organizations that made the list include public transport services in the capital Athens, defense companies, the tourism development organization, public toll road operators and horse racing organizations.


Greek state controlled companies have significantly contributed to the country's spiraling national debt, estimated at EUR300 billion. They are expected, along with local governments and hospitals debts, to contribute to an upward revision of the 2009 Greek budget deficit above the previous figure of 13.6% of gross domestic product. The revision by Eurostat is expected to be announced on October 22.


Deficit ridden state controlled companies have to be reined in so they don't derail deficit slashing efforts, economists say. They have for decades been burdened by political interference and appointments, as well as bureaucracy and inefficiency.
The Finance Ministry said that wages in the organizations have already been cut and the firms will have to present business plans, lower costs and rationalize activities.
 
Israeli-Greco ties in bloom as Greek FM's arrival nears

By HERB KEINON
10/14/2010 03:11



Droustas's visit will come just four days after Greece and Israel are scheduled to conclude a four-day joint military exercise.


The newly kindled Israeli- Greek romance continues to blossom, as Greek Foreign Minister Dimitris Droutsas is expected in Jerusalem on Monday, a week after a high level official from the Greek Prime Minister’s Office came to Israel to “map out fields of cooperation” between the two countries.

Droustas will arrive as part of a three-day regional tour that will also take him to the Palestinian Authority and Jordan. A Greek diplomatic official said the visit is further indication of the significant strengthening of ties between the two countries.


His visit will come just four days after Greece and Israel are scheduled to conclude a four-day joint military exercise.

Eight Israeli helicopters are currently taking part in the combat search-and-rescue exercise in the southern part of the country, the AP quoted the Greek air force as saying on Wednesday. Greece is participating with three helicopters and six fighter jets.

Prime Minister Binyamin Netanyahu paid the first visit by an Israeli prime minister to Greece in August, a month after his Greek counterpart George Papandreou came to Israel.

The recent sharp deterioration in ties with Turkey has led to a significant warming of Israel’s ties with other traditional Turkish rivals in the region, such as Cyprus, Bulgaria and – most markedly – Greece, which for many years was viewed in Jerusalem as one of the least friendly countries toward Israel in Europe.

Earlier this week, the minister of state in the Greek Prime Minister’s Office, Haris Pamboukis, visited Jerusalem and held a number of meetings to discuss ways to advance the diplomatic, security and economic relations with Israel.


Among the issues reportedly discussed with Pamboukis was the possibility of building an underwater pipeline form Israel to Greece, through which Israel could export natural gas to Europe. Turkey was in the past considered as the logical partner for this pipeline, since it is closer, but the recent strain in relations has forced a re-evaluation of these types of deals with Ankara.

In a related matter, Foreign Minister Avigdor Lieberman – who on Sunday said the European Union would do well do solve its own conflicts before dealing with the Middle East – left Tuesday for visits to Berlin and Bratislava.

In Berlin he will meet with German Foreign Minister Guido Westerwelle, and in Bratislava he will meet with Slovakian leaders, including its foreign, defense and interior ministers.


(The Jerusalem Post)
 
Police ordered to open Acropolis; contract workers had closed site




A police operation was underway at present outside the gates of the Acropolis in central Athens to open the pre-eminent archaeological site, which has been closed since Wednesday morning by up to 200 culture ministry contract employees.

The latter are demanding permanent status.

A lawsuit was filed by the chief of the local police precinct with an Athens first instance prosecutor, leading to the go-ahead for the operation.

Protesting contract workers had locked the gates leading to the Acropolis with chains, thereby keeping out hundreds of tourists seeking to visit Greece's best-known and most frequented archaeological site.

(ana.gr)
 
Mi chiedevano un giudizio su questo titolo ... ma non saltatemi addosso ...

Uno dei titoli più scambiati sul MOT è il GGBei 25, titolo particolarmente apprezzato dai trader nostrani e un pò meno dagli istituzionali.
Tra gli indicizzati presenti sul mercato euro è quello che potrebbe avere nel futuro performance migliori: prezzo basso ma indicizzazione maturata alta.
Il titolo è stato uno dei primi a subire le vendite massicce nel corso della prima fase della crisi a dicembre 2009.
Un auspicabile innalzamento del rating da parte di Moody's e S&P a BBB potrebbe far ritornare i fondi su questo titolo da cui ne sono usciti anzitempo.
 
Mi chiedevano un giudizio su questo titolo ... ma non saltatemi addosso ...

Uno dei titoli più scambiati sul MOT è il GGBei 25, titolo particolarmente apprezzato dai trader nostrani e un pò meno dagli istituzionali.
Tra gli indicizzati presenti sul mercato euro è quello che potrebbe avere nel futuro performance migliori: prezzo basso ma indicizzazione maturata alta.
Il titolo è stato uno dei primi a subire le vendite massicce nel corso della prima fase della crisi a dicembre 2009.
Un auspicabile innalzamento del rating da parte di Moody's e S&P a BBB potrebbe far ritornare i fondi su questo titolo da cui ne sono usciti anzitempo.

ieri ha scambiato 1,8 milioni

come sono i CDS stamani?
 
OSE restructure bill


ANA-MPa/Transport Minister Dimitris Reppas termed the bill on the restructuring of the Hellenic Railways Organisation (OSE) an "intermediate stage to enable the existence of a transport policy that will make Greece a transit hub," while speaking at the Parliamentary Economic Committee during the first day of its discussion on Wednesday.
"The draft law, can change the railway setting in our country. If we want combined transport, of course the railway must have a better share and better infrastructures. And we are promoting a programme at the Thriasio Pedio, that will constitute the end of the country's major railway axes and will be linked with the port of Piraeus. The Port-Trade Centre-railway and road axes-airport line will be ready in 2011. A persistent effort is necessary for the plan to mature, but all begin from the first step - and the bill is the first step," Reppas said.


(ana.gr)
 
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