tommy271
Forumer storico
Infatti: giovedì era intervenuta su Dublino, ed oggi su Atene perchè ieri la Borsa era chiusa.
Non li compra mica sul MOT ...
Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
- Creatore Discussione Imark
- Data di Inizio
- Stato
Infatti: giovedì era intervenuta su Dublino, ed oggi su Atene perchè ieri la Borsa era chiusa.
Non li compra mica sul MOT ...
tommy271
Forumer storico
Greek Bonds Slump on Renewed Budgetary Concern; Bunds Rise on Safety Bid
By Lukanyo Mnyanda - Oct 29, 2010 12:01 PM GMT+0200
Fri Oct 29 10:01:12 GMT 2010
Greek bonds led a decline by so- called peripheral European securities amid concern the nation will struggle to meet deficit targets, pushing the debt’s extra yield over German securities to the highest in a month.
Portuguese bonds declined for a third day as a survey showed the opposition Social Democrats increased their poll lead over Prime Minister Jose Socrates’ Socialist Party. German bonds gained as investors sought safer assets, paring their weekly drop. Bunds also tracked yesterday’s gains in U.S. Treasuries amid speculation the Federal Reserve will resume buying bonds.
“The periphery remains vulnerable,” said Patrick Jacq, a senior fixed-income strategist at BNP Paribas SA in Paris. “Greece is still suffering.”
The yield on Greece’s 10-year bond rose 33 basis points to 10.72 percent as of 10:43 a.m. in London. That pushed the extra yield, or spread, that investors demand to hold the securities instead of benchmark German bonds at 813 basis points, the most since Sept. 30 based on closing prices. The spread hadn’t been above 800 basis points since Oct. 1.
German Chancellor Angela Merkel today said she won European Union backing for a rewrite of treaties to create a permanent debt-crisis mechanism by 2013, aiming to prevent a repeat of the Greece-led shock that jolted the euro earlier this year.
“All agreed that there has to be a permanent crisis mechanism,” Merkel told reporters early today after the first session of a summit in Brussels. “All agreed that a limited treaty change will be necessary.”
(Bloomberg)
By Lukanyo Mnyanda - Oct 29, 2010 12:01 PM GMT+0200
Fri Oct 29 10:01:12 GMT 2010
Greek bonds led a decline by so- called peripheral European securities amid concern the nation will struggle to meet deficit targets, pushing the debt’s extra yield over German securities to the highest in a month.
Portuguese bonds declined for a third day as a survey showed the opposition Social Democrats increased their poll lead over Prime Minister Jose Socrates’ Socialist Party. German bonds gained as investors sought safer assets, paring their weekly drop. Bunds also tracked yesterday’s gains in U.S. Treasuries amid speculation the Federal Reserve will resume buying bonds.
“The periphery remains vulnerable,” said Patrick Jacq, a senior fixed-income strategist at BNP Paribas SA in Paris. “Greece is still suffering.”
The yield on Greece’s 10-year bond rose 33 basis points to 10.72 percent as of 10:43 a.m. in London. That pushed the extra yield, or spread, that investors demand to hold the securities instead of benchmark German bonds at 813 basis points, the most since Sept. 30 based on closing prices. The spread hadn’t been above 800 basis points since Oct. 1.
German Chancellor Angela Merkel today said she won European Union backing for a rewrite of treaties to create a permanent debt-crisis mechanism by 2013, aiming to prevent a repeat of the Greece-led shock that jolted the euro earlier this year.
“All agreed that there has to be a permanent crisis mechanism,” Merkel told reporters early today after the first session of a summit in Brussels. “All agreed that a limited treaty change will be necessary.”
(Bloomberg)
tommy271
Forumer storico
Rischio di guerra valutaria, Basilea peso per banche-BoI
venerdì 29 ottobre 2010 13:24
(aggiunge dichiarazioni su Basilea III)
VENEZIA, 29 ottobre (Reuters) - Il pericolo di una guerra valutaria esiste secondo Fabrizio Saccomanni, direttore generale della Banca d'Italia.
Intervenendo al Forum of Long Term Investors, Saccomanni ha riconosciuto che le nuove norme internazionali sui requisiti patrimoniali delle banche delineate da Basilea III saranno un peso per gli istituti di credito, ma ha aggiunto che il sistema precedente aveva diffetti evidenti.
Parlando delle economie del Gruppo dei Venti, il direttore generale della Banca d'Italia ha notato che "c'è un rischio, evidenziato dai media di recente ma anche da autorevoli osservatori, di una guerra delle valute".
Nell'incontro della scorsa settimana i ministri finanziari del Gruppo dei Venti si erano accordati per evitare svalutazioni competitive, ma non avevano raggiunto un'intesa sulla proposta statunitense di fissare obiettivi numerici sui saldi delle partite correnti in modo da spingere i paesi in surplus a rivalutare la propria divisa.
"Ovviamente avere più capitale sarà un peso per le banche, un impedimento, ma arrivavamo da un sistema dove c'era capitale insufficiente ad assorbire le perdite" e poco controllo della liquidità, ha detto Saccomanni parlando di Basilea III.
***
La Grecia rimane sempre l'anello debole da scardinare.
venerdì 29 ottobre 2010 13:24
(aggiunge dichiarazioni su Basilea III)
VENEZIA, 29 ottobre (Reuters) - Il pericolo di una guerra valutaria esiste secondo Fabrizio Saccomanni, direttore generale della Banca d'Italia.
Intervenendo al Forum of Long Term Investors, Saccomanni ha riconosciuto che le nuove norme internazionali sui requisiti patrimoniali delle banche delineate da Basilea III saranno un peso per gli istituti di credito, ma ha aggiunto che il sistema precedente aveva diffetti evidenti.
Parlando delle economie del Gruppo dei Venti, il direttore generale della Banca d'Italia ha notato che "c'è un rischio, evidenziato dai media di recente ma anche da autorevoli osservatori, di una guerra delle valute".
Nell'incontro della scorsa settimana i ministri finanziari del Gruppo dei Venti si erano accordati per evitare svalutazioni competitive, ma non avevano raggiunto un'intesa sulla proposta statunitense di fissare obiettivi numerici sui saldi delle partite correnti in modo da spingere i paesi in surplus a rivalutare la propria divisa.
"Ovviamente avere più capitale sarà un peso per le banche, un impedimento, ma arrivavamo da un sistema dove c'era capitale insufficiente ad assorbire le perdite" e poco controllo della liquidità, ha detto Saccomanni parlando di Basilea III.
***
La Grecia rimane sempre l'anello debole da scardinare.
tommy271
Forumer storico
Sarkozy: EU Crisis Resolution Fund Requires Treaty Revision
BRUSSELS (Dow Jones)--French President Nicolas Sarkozy said Friday that a European Union treaty revision is necessary to ensure a permanent crisis-resolution mechanism after the temporary mechanism expires in 2013.
"If we make the system permanent, a light revision of the treaty will be needed that would make Germany's task easier," Sarkozy said.
Sarkozy said that not making the system permanent would be like Europe saying it didn't know what to do from 2013 onwards.
The French president didn't give details on how the permanent mechanism would function, but said the president of the European Council, Herman Van Rompuy, will work on this to enable a final decision in December.
Sarkozy also said that European leaders discussed trade at the conference. He said Europe needs to demand more reciprocity and that, although it doesn't want protectionism, Europe needs to be less "naive."
BRUSSELS (Dow Jones)--French President Nicolas Sarkozy said Friday that a European Union treaty revision is necessary to ensure a permanent crisis-resolution mechanism after the temporary mechanism expires in 2013.
"If we make the system permanent, a light revision of the treaty will be needed that would make Germany's task easier," Sarkozy said.
Sarkozy said that not making the system permanent would be like Europe saying it didn't know what to do from 2013 onwards.
The French president didn't give details on how the permanent mechanism would function, but said the president of the European Council, Herman Van Rompuy, will work on this to enable a final decision in December.
Sarkozy also said that European leaders discussed trade at the conference. He said Europe needs to demand more reciprocity and that, although it doesn't want protectionism, Europe needs to be less "naive."
tommy271
Forumer storico
EU Agrees to Merkel's Controversial Euro Reforms
Angela Merkel's controversial ideas for a new bailout mechanism in the euro zone have been accepted by EU leaders. She may have lost friends, both at home and abroad, but her vision for a long-term plan to manage sovereign debt crises will be adopted in Brussels -- even if it requires "small" changes to the Lisbon Treaty.
The first day of a European Union summit in Brussels ended in political victory for German Chancellor Angela Merkel, who emerged from discussions after midnight on Friday morning with a German-engineered plan to protect the euro that was largely accepted by EU leaders. "I can say on behalf of Germany that we brought our essential points very far forward," she said.
The EU's 27 leaders endorsed "limited changes" to the Lisbon Treaty to create a permanent emergency mechanism allowing euro zone members to default on sovereign debt without threatening the euro as a whole.
The mechanism will replace the €440 billion emergency fund established this year to bail out European nations threatened by the Greek debt crisis. That emergency fund is scheduled to end in 2013.
The new mechanism would also give the European Commission new powers to scrutinize national budgets of member nations -- and impose fines on so-called deficit violators, governments which consistently overshoot deficit guidelines set by the EU's Growth and Stability Pact.
An important caveat is that the fines will not be automatic. Member states also won't strip countries of voting rights in the Council of Ministers -- a proposed punishment floated just before the summit by Merkel and French President Nicolas Sarkozy, which outraged other member states.
Fallout from Deauville
Merkel, in fact, outraged political opponents, foreign ministers and her own coalition partners by meeting in private on Oct. 18 with Sarkozy. At the so-called Deauville summit -- a sudden bilateral meeting with Sarkozy in a French seaside town -- she gave away Germany's most sacred demand since the euro crisis began: firm discipline, in the shape of automatic fines, for deficit violators.
Merkel also agreed to a French proposal that deficit violators should lose voting rights in the EU's Council of Ministers. This idea roiled EU member nations that are struggling to bring their budgets in line.
The trouble with the French idea is that it would require wholesale changes to the Lisbon Treaty, the unpopular EU document which has caused so much grief in recent years. The notion of cajoling indebted member states, like Ireland, to re-open Lisbon with the purpose of rescinding some of their own rights seemed beyond the pale.
"If treaty change is to reduce the rights of member states on voting," said European Commission President Jose Manuel Barroso on Thursday, "I find it unacceptable and frankly speaking it is not realistic."
Merkel, however, feared that the crisis mechanism would contravene rules against EU bailouts already written into the Lisbon Treaty. So smaller changes were necessary, and it was this compromise that passed in Brussels on Thursday.
"All were in agreement that a limited revision of the treaty will be necessary (for the new bailout rules)," she said. "The crisis mechanism is valid only in the event that the stability of the euro as a whole is in danger."
Private Investors Will Be Liable
One point of the new bankruptcy mechanism, Merkel said Wednesday in a speech to the German parliament, is to signal to private investors that they will have to bear some costs of risky loans to indebted nations like Greece -- instead of leaving taxpayers liable.
Details of the mechanism are to be settled by the next EU summit in December. EU President Herman Van Rompuy has been asked to determine whether the changes are minor enough to make without sending the Lisbon Treaty back to a referendum in certain EU countries.
Merkel did not get her way in Brussels without creating the impression that she was aloof from criticism, either at home or abroad. Germany has been the single largest contributor to bailout funds during the euro crisis, and on Wednesday she indicated that the new bailout mechanism would be created along German guidelines, or not at all.
And it was apparent to some representatives at the summit that the fuss over voting rights was a German bluff.
"Everyone reckons that (it was) essentially just a bargaining chip on Germany's part to get what they really want," said an unnamed EU source, according to EU Observer.
(spiegel.de)
Angela Merkel's controversial ideas for a new bailout mechanism in the euro zone have been accepted by EU leaders. She may have lost friends, both at home and abroad, but her vision for a long-term plan to manage sovereign debt crises will be adopted in Brussels -- even if it requires "small" changes to the Lisbon Treaty.
The first day of a European Union summit in Brussels ended in political victory for German Chancellor Angela Merkel, who emerged from discussions after midnight on Friday morning with a German-engineered plan to protect the euro that was largely accepted by EU leaders. "I can say on behalf of Germany that we brought our essential points very far forward," she said.
The EU's 27 leaders endorsed "limited changes" to the Lisbon Treaty to create a permanent emergency mechanism allowing euro zone members to default on sovereign debt without threatening the euro as a whole.
The mechanism will replace the €440 billion emergency fund established this year to bail out European nations threatened by the Greek debt crisis. That emergency fund is scheduled to end in 2013.
The new mechanism would also give the European Commission new powers to scrutinize national budgets of member nations -- and impose fines on so-called deficit violators, governments which consistently overshoot deficit guidelines set by the EU's Growth and Stability Pact.
An important caveat is that the fines will not be automatic. Member states also won't strip countries of voting rights in the Council of Ministers -- a proposed punishment floated just before the summit by Merkel and French President Nicolas Sarkozy, which outraged other member states.
Fallout from Deauville
Merkel, in fact, outraged political opponents, foreign ministers and her own coalition partners by meeting in private on Oct. 18 with Sarkozy. At the so-called Deauville summit -- a sudden bilateral meeting with Sarkozy in a French seaside town -- she gave away Germany's most sacred demand since the euro crisis began: firm discipline, in the shape of automatic fines, for deficit violators.
Merkel also agreed to a French proposal that deficit violators should lose voting rights in the EU's Council of Ministers. This idea roiled EU member nations that are struggling to bring their budgets in line.
The trouble with the French idea is that it would require wholesale changes to the Lisbon Treaty, the unpopular EU document which has caused so much grief in recent years. The notion of cajoling indebted member states, like Ireland, to re-open Lisbon with the purpose of rescinding some of their own rights seemed beyond the pale.
"If treaty change is to reduce the rights of member states on voting," said European Commission President Jose Manuel Barroso on Thursday, "I find it unacceptable and frankly speaking it is not realistic."
Merkel, however, feared that the crisis mechanism would contravene rules against EU bailouts already written into the Lisbon Treaty. So smaller changes were necessary, and it was this compromise that passed in Brussels on Thursday.
"All were in agreement that a limited revision of the treaty will be necessary (for the new bailout rules)," she said. "The crisis mechanism is valid only in the event that the stability of the euro as a whole is in danger."
Private Investors Will Be Liable
One point of the new bankruptcy mechanism, Merkel said Wednesday in a speech to the German parliament, is to signal to private investors that they will have to bear some costs of risky loans to indebted nations like Greece -- instead of leaving taxpayers liable.
Details of the mechanism are to be settled by the next EU summit in December. EU President Herman Van Rompuy has been asked to determine whether the changes are minor enough to make without sending the Lisbon Treaty back to a referendum in certain EU countries.
Merkel did not get her way in Brussels without creating the impression that she was aloof from criticism, either at home or abroad. Germany has been the single largest contributor to bailout funds during the euro crisis, and on Wednesday she indicated that the new bailout mechanism would be created along German guidelines, or not at all.
And it was apparent to some representatives at the summit that the fuss over voting rights was a German bluff.
"Everyone reckons that (it was) essentially just a bargaining chip on Germany's part to get what they really want," said an unnamed EU source, according to EU Observer.
(spiegel.de)
tommy271
Forumer storico
German media sees partial victory for Merkel on EU
Fri Oct 29, 2010 8:08am EDT
* Merkel fails to push through voting right suspension
* Brussels deal seen as "lite" solution to problem
By Dave Graham
BERLIN, Oct 29 (Reuters) - German media offered guarded praise for an agreement in Brussels to make limited changes to the EU treaty, describing it as a compromise that bought time to find a lasting remedy to debt woes that have plagued the bloc.
Under pressure from Chancellor Angela Merkel and French President Nicolas Sarkozy, EU leaders in Brussels agreed that changes were needed to create a permanent system to handle sovereign debt problems and endorsed tougher budgetary rules, including sanctions on profligate states. [ID:nLDE69I1FB]
Facing public hostility to a bailout of Greece and the creation of massive rescue fund designed to protect the euro currency, Merkel had insisted on the option of suspending voting rights for budget sinners and alterations to the treaty.
Business daily Handelsblatt said the consensus reached on treaty changes was a significant achievement, calling it a "breakthrough" for Merkel, whose centre-right coalition has suffered a record drop in support in its first year in office.
But Berlin failed to win widespread support for demands to suspend the voting rights of member states which breach the rules. This would have required more radical treaty change, backed by public referendums, and was put on the backburner.
This meant this plan was "pretty much off the table for the time being," wrote daily Frankfurter Allgemeine Zeitung.
As a result, the deal reached in Brussels amounted to "lite solution" to the problem of ensuring budgetary discipline, said German newspaper Hannoversche Allgemeine Zeitung.
In a comment for German public radio, Birgit Schmeitzner said the fact that Merkel had reached one of her two objectives meant there was still something to play for.
"This is a stage victory that Angela Merkel can celebrate," she said. "It helps that Merkel saved face. And that she didn't have to take up her threat of allowing the summit to fail."
Gunther Krichbaum, a member of Merkel's conservative Christian Democrats, who chairs the European Union affairs committee in the lower house of parliament, said the agreement reached amounted to real progress on warding off future crises.
"It is a great step forward because we now have a crisis mechanism so that in the future we will not have to deal with problems like the Greek crisis on an ad hoc basis," he said.
The leaders asked Herman Van Rompuy, the president of the EU Council grouping national governments, to prepare changes to the Lisbon treaty in time for agreement at a summit in December and said he should work on them with the European Commission.
***
Strada lunga e piena di insidie.
Fri Oct 29, 2010 8:08am EDT
* Merkel fails to push through voting right suspension
* Brussels deal seen as "lite" solution to problem
By Dave Graham
BERLIN, Oct 29 (Reuters) - German media offered guarded praise for an agreement in Brussels to make limited changes to the EU treaty, describing it as a compromise that bought time to find a lasting remedy to debt woes that have plagued the bloc.
Under pressure from Chancellor Angela Merkel and French President Nicolas Sarkozy, EU leaders in Brussels agreed that changes were needed to create a permanent system to handle sovereign debt problems and endorsed tougher budgetary rules, including sanctions on profligate states. [ID:nLDE69I1FB]
Facing public hostility to a bailout of Greece and the creation of massive rescue fund designed to protect the euro currency, Merkel had insisted on the option of suspending voting rights for budget sinners and alterations to the treaty.
Business daily Handelsblatt said the consensus reached on treaty changes was a significant achievement, calling it a "breakthrough" for Merkel, whose centre-right coalition has suffered a record drop in support in its first year in office.
But Berlin failed to win widespread support for demands to suspend the voting rights of member states which breach the rules. This would have required more radical treaty change, backed by public referendums, and was put on the backburner.
This meant this plan was "pretty much off the table for the time being," wrote daily Frankfurter Allgemeine Zeitung.
As a result, the deal reached in Brussels amounted to "lite solution" to the problem of ensuring budgetary discipline, said German newspaper Hannoversche Allgemeine Zeitung.
In a comment for German public radio, Birgit Schmeitzner said the fact that Merkel had reached one of her two objectives meant there was still something to play for.
"This is a stage victory that Angela Merkel can celebrate," she said. "It helps that Merkel saved face. And that she didn't have to take up her threat of allowing the summit to fail."
Gunther Krichbaum, a member of Merkel's conservative Christian Democrats, who chairs the European Union affairs committee in the lower house of parliament, said the agreement reached amounted to real progress on warding off future crises.
"It is a great step forward because we now have a crisis mechanism so that in the future we will not have to deal with problems like the Greek crisis on an ad hoc basis," he said.
The leaders asked Herman Van Rompuy, the president of the EU Council grouping national governments, to prepare changes to the Lisbon treaty in time for agreement at a summit in December and said he should work on them with the European Commission.
***
Strada lunga e piena di insidie.
Noloss
Forumer attivo
Jessica.
out of time...
tommy271
Forumer storico
io dico che e' stato dato come collaterale alla BCE..
...azzo, ci hanno straguadagnato allora
.- Stato
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