Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (13 lettori)
- Creatore Discussione Imark
- Data di Inizio
- Stato
Noloss
Forumer attivo
Riguardo al problema di coinvolgere anche i privati ho sentito una argomentazione che vorrei riportare e che NON garantisco né per autenticità né per validità della tesi. L'ho sentita e nonostante avessi chiesto la provenienza, credo sia meglio definirla una discussione accademica o da bar e riguarda l'applicazione di quelle regole sia per le nuove emissioni e sia... per le vecchie ma in questo caso sarebbero soggette solo tra un 5 anni, un periodo congruo perché il mercato digerisca il discorso, e la cui applicazione sarebbe intorno al 2017/2018 circa per tutta l'area euro. Cosa ho detto di vero? Questo è il problema, non ho l'attendibilità delle fonti... ma ditemi se secondo voi ha senso questo, grazie.
tommy271
Forumer storico
Potrebbe avere senso, però il vecchio debito è molto basso oltre il 2015.
Qualche puntata verso l'alto nel 2017 e 2019.
Se Grisù ci legge lui ha tutte le tabelle del debito in scadenza, le avevo postate anch'io ma andarle a cercare ci metterei una giornata...
tommy271
Forumer storico
Market relief at PM’s decision
Early general election would have caused problems, the business world agrees, as spreads shrink
A general sense of relief on the markets greeted the prime minister’s decision not to call snap polls following the results of Sunday’s first round of local and regional elections.
The prospect of early general elections next month, raised by George Papandreou late last month depending on the results of Sunday’s polls, had created great unrest among investors as well as local businesspeople in general. The German government had actually sent an informal yet clear message that a snap poll would seriously diminish the chances of an extension to Greece’s loan repayments.
Now that the markets have calmed down and the spread between the Greek benchmark 10-year bond and the Germany bund contracted somewhat yesterday to 889 basis points from 927 bp late last week. The Athens stock market also closed with gains, though not as big as the early session’s euphoria had originally suggested.
Foreign observers also stressed that a snap poll could have left Greece in a protracted period without a strong government, exactly what a country in crisis doesn’t need, they suggested. Some others noted, however, that the ground lost by the government in the local elections will not allow the specter of early elections to disappear just yet.
Relief was more obvious among Greek trade bodies, which saw the premier’s decision as the last chance for the market to have any prospect of recovery anytime soon.
The president of the Federation of Hellenic Enterprises (SEV), Dimitris Daskalopoulos, said: “The people have assumed their responsibility at the voting centers, it now falls to the political system to assume its own. People have undertaken the cost of the [streamlining] effort, but deservedly expect to see its fruition.”
Vassilis Korkidis, head of the Confederation of Greek Commerce (ESEE), stated poignantly that “the scenario of a snap poll was a dangerous risk that could have driven the country to an absence of government, the end to its borrowing and national bankruptcy.” He explained that political uncertainty always scares away entrepreneurship, let alone amid such financial instability. Finally the president of the Athens Chamber of Commerce and Industry (EBEA), Constantinos Michalos, stressed that ”the business world is satisfied with the premier’s decision against dragging the country into early elections, which would have generated additional problems for the economy in a particularly crucial period.”
(Kathimerini.gr)
Early general election would have caused problems, the business world agrees, as spreads shrink
A general sense of relief on the markets greeted the prime minister’s decision not to call snap polls following the results of Sunday’s first round of local and regional elections.
The prospect of early general elections next month, raised by George Papandreou late last month depending on the results of Sunday’s polls, had created great unrest among investors as well as local businesspeople in general. The German government had actually sent an informal yet clear message that a snap poll would seriously diminish the chances of an extension to Greece’s loan repayments.
Now that the markets have calmed down and the spread between the Greek benchmark 10-year bond and the Germany bund contracted somewhat yesterday to 889 basis points from 927 bp late last week. The Athens stock market also closed with gains, though not as big as the early session’s euphoria had originally suggested.
Foreign observers also stressed that a snap poll could have left Greece in a protracted period without a strong government, exactly what a country in crisis doesn’t need, they suggested. Some others noted, however, that the ground lost by the government in the local elections will not allow the specter of early elections to disappear just yet.
Relief was more obvious among Greek trade bodies, which saw the premier’s decision as the last chance for the market to have any prospect of recovery anytime soon.
The president of the Federation of Hellenic Enterprises (SEV), Dimitris Daskalopoulos, said: “The people have assumed their responsibility at the voting centers, it now falls to the political system to assume its own. People have undertaken the cost of the [streamlining] effort, but deservedly expect to see its fruition.”
Vassilis Korkidis, head of the Confederation of Greek Commerce (ESEE), stated poignantly that “the scenario of a snap poll was a dangerous risk that could have driven the country to an absence of government, the end to its borrowing and national bankruptcy.” He explained that political uncertainty always scares away entrepreneurship, let alone amid such financial instability. Finally the president of the Athens Chamber of Commerce and Industry (EBEA), Constantinos Michalos, stressed that ”the business world is satisfied with the premier’s decision against dragging the country into early elections, which would have generated additional problems for the economy in a particularly crucial period.”
(Kathimerini.gr)
tommy271
Forumer storico
Greek household deposits in banks keep shrinking
Household deposits in banks continued to shrink in September, dropping by 970 million euros from August, Bank of Greece data showed yesterday. The total amount of Greek household deposits came to 176.5 billion euros. Savings accounts saw their balance shrink by 1.6 billion euros, with about 446 million of that being transferred to time deposits. The rest has gone toward covering the daily or other needs of households, given the financial crisis that has had a significant impact on the average Greek. Since the start of the year, Greek household deposits have shrunk by 20.3 billion euros. However, deposits by enterprises expanded by 775 million euros in September compared to the month before. Total corporate deposits added up to 36.3 billion euros, from 35.5 billion in August. From the start of the year, the cash flow of Greek companies has declined by 4.8 billion euros.
(Kathimerini.gr)
***
Depositi privati sempre in calo, lieve eccezione per le aziende.
Household deposits in banks continued to shrink in September, dropping by 970 million euros from August, Bank of Greece data showed yesterday. The total amount of Greek household deposits came to 176.5 billion euros. Savings accounts saw their balance shrink by 1.6 billion euros, with about 446 million of that being transferred to time deposits. The rest has gone toward covering the daily or other needs of households, given the financial crisis that has had a significant impact on the average Greek. Since the start of the year, Greek household deposits have shrunk by 20.3 billion euros. However, deposits by enterprises expanded by 775 million euros in September compared to the month before. Total corporate deposits added up to 36.3 billion euros, from 35.5 billion in August. From the start of the year, the cash flow of Greek companies has declined by 4.8 billion euros.
(Kathimerini.gr)
***
Depositi privati sempre in calo, lieve eccezione per le aziende.
tommy271
Forumer storico
Juncker calls for further measures
Eurogroup chief Jean-Claude Juncker called on Athens to take new measures in order to meet the targets it has set for 2011, while ruling out the possibility of a Greek debt restructuring.
A few days before the arrival in Greece of representatives from the country’s internatioal creditors and the disbursement of the third installment of loans in the support mechanism, Juncker issued a clear message about the future.
While the government estimates the gap in meeting the deficit target for 2011 at 2 billion euros, the creditors’ technocrats who have already arrived in Greece ahead of the official visit by the representatives of the European Central Bank, European Commission and International Monetary Fund next week put the figure at 4 billion.
The revision of deficits and debts has taken this year’s budget deficit to 8.8 percent of gross domestic product, or 20.3 billion euros, instead of the original target of 8 percent. Last year’s deficit is now estimated at 35 billion euros, from a previous estimate of 32 billion.
“We believe that the Greek authorities will be able to rectify the deficit and respect the targets set for 2011. The strict program continues to be reliable and will prove so in the future,” said Juncker.
He did add however that “we have to remember Greek growth in 2010 will be negative, which means that corrective reforms will need to apply along with new austerity measures in order to safeguard the targets for 2011.”
The growth of this year’s deficit contributes to a smaller-than-expected nominal GDP, which is now estimated at 231 billion euros as opposed to 236 billion.
“Greeks and others have excessive debts and this is not the fault of the eurozone,” said the head of the council of eurozone countries. “We are not considering a restructuring of the Greek debt, and neither are the Greek authorities,” Juncker added.
(Kathimerini.gr)
Eurogroup chief Jean-Claude Juncker called on Athens to take new measures in order to meet the targets it has set for 2011, while ruling out the possibility of a Greek debt restructuring.
A few days before the arrival in Greece of representatives from the country’s internatioal creditors and the disbursement of the third installment of loans in the support mechanism, Juncker issued a clear message about the future.
While the government estimates the gap in meeting the deficit target for 2011 at 2 billion euros, the creditors’ technocrats who have already arrived in Greece ahead of the official visit by the representatives of the European Central Bank, European Commission and International Monetary Fund next week put the figure at 4 billion.
The revision of deficits and debts has taken this year’s budget deficit to 8.8 percent of gross domestic product, or 20.3 billion euros, instead of the original target of 8 percent. Last year’s deficit is now estimated at 35 billion euros, from a previous estimate of 32 billion.
“We believe that the Greek authorities will be able to rectify the deficit and respect the targets set for 2011. The strict program continues to be reliable and will prove so in the future,” said Juncker.
He did add however that “we have to remember Greek growth in 2010 will be negative, which means that corrective reforms will need to apply along with new austerity measures in order to safeguard the targets for 2011.”
The growth of this year’s deficit contributes to a smaller-than-expected nominal GDP, which is now estimated at 231 billion euros as opposed to 236 billion.
“Greeks and others have excessive debts and this is not the fault of the eurozone,” said the head of the council of eurozone countries. “We are not considering a restructuring of the Greek debt, and neither are the Greek authorities,” Juncker added.
(Kathimerini.gr)
tommy271
Forumer storico
PASOK turns focus to local issues
Having secured a mandate to ward off national elections, government tries to set agenda for next round of voting
After thanking Greek voters for providing PASOK with enough support in Sunday’s local poll to justify Prime Minister George Papandreou not calling snap general elections, the government yesterday asked the electorate to vote based on local administration issues in next Sunday’s second round, when 221 municipalities and 11 regions will still be up for grabs.
The elections on Sunday, November 7, will be remembered for one thing above all others: that Papandreou decided the outcome showed his center-left government had enough of a mandate, despite the unpopular austerity measures it has adopted this year, to continue governing.
“For the prime minister and the government, the political chapter of these elections closed last night,” said Interior Minister Yiannis Ragousis, one of Papandreou’s most trusted aides. “Thanks to the wise votes of the Greek people, the possible drama of political instability... has now been dispelled.”
He called on Greeks, who will return to the ballot box next week to decide who will be governor in major regions such as Attica and mayor in municipalities such as Thessaloniki, to vote based on local issues. “The second round will be decided solely by local administration matters, by [the] Kallikratis [reform of local government] and to what extent the candidates can lead local government into a new era.”
In the New Democracy camp, the conservatives were playing up Sunday’s result as a moral victory for them, particularly as Papandreou withdrew his general election challenge. “PASOK has suffered a strategic defeat because its bluff failed and the Greek people sent a strong message that they want a change in direction,” ND leader Antonis Samaras told some of his party’s MPs yesterday. The conservatives are hoping that they will be able to win some key seats in the second round, including the Attica region, where their candidate Vassilis Kikilias trailed PASOK’s Yiannis Sgouros. “We can win Attica and we will win Attica. The success of the fight lies in your hands,” Samaras told the deputies.
However, a projection of the vote on a national basis conducted by Public Issue indicated that there was little for either of the main parties to celebrate. Compared to 43.92 percent of the national vote in the October 2009 national elections, PASOK only got 34.63 percent on Sunday. New Democracy, which had apparently hit rock bottom in 2009 when it obtained 33.48 percent in the parliamentary vote, only managed 32.72 in the local ones.
The only party that managed to increase its share of the national vote was the Communist Party (KKE). Based on yesterday’s projections, it got 10.88 percent on Sunday compared to 7.54 percent last October.
However, there was one statistic that will make all the parties ponder deeply. The turnout for Sunday’s vote was a record low, as 39 percent of voters stayed at home, surpassing the previous high of just over 37 percent, set during the 2009 European Parliamentary elections.
Key seats still up for grabs
Of the 13 new regions being contested in the elections, just two were secured in Sunday’s first round of voting, while about a third of the 325 municipalities were locked in.
The regions of Crete and the Southern Aegean both acquired governors backed by ruling PASOK, Stavros Arnaoutakis and Yiannis Machairidis respectively, the latter the former prefect of the Dodecanese Islands. The other 11 regions remained split, with PASOK leading in five of them and New Democracy in the other six.
In the hotly contested Attica region, the contest was close. PASOK’s Yiannis Sgouros, who gained 24.06 percent of votes, is to run off against conservative New Democracy’s Vassilis Kikilias, who got 20.43 percent. Yiannis Dimaras, the PASOK dissenter who ran as an independent, bowed out with 15.96 percent of votes. In the other major region of Central Macedonia, Panayiotis Psomiadis, the Thessaloniki prefect, won the first round comfortably with 43.2 percent of votes. He is to face his PASOK rival Markos Bolaris, who amassed 30.68 percent of votes.
In the first round, 104 mayors were elected, leaving another 221 municipalities, including Athens, Piraeus and Thessaloniki, to be contested by 442 candidates on Sunday.
***
Una dettagliata analisi del voto del quotidiano "Kathimerini".
After thanking Greek voters for providing PASOK with enough support in Sunday’s local poll to justify Prime Minister George Papandreou not calling snap general elections, the government yesterday asked the electorate to vote based on local administration issues in next Sunday’s second round, when 221 municipalities and 11 regions will still be up for grabs.
The elections on Sunday, November 7, will be remembered for one thing above all others: that Papandreou decided the outcome showed his center-left government had enough of a mandate, despite the unpopular austerity measures it has adopted this year, to continue governing.
“For the prime minister and the government, the political chapter of these elections closed last night,” said Interior Minister Yiannis Ragousis, one of Papandreou’s most trusted aides. “Thanks to the wise votes of the Greek people, the possible drama of political instability... has now been dispelled.”
He called on Greeks, who will return to the ballot box next week to decide who will be governor in major regions such as Attica and mayor in municipalities such as Thessaloniki, to vote based on local issues. “The second round will be decided solely by local administration matters, by [the] Kallikratis [reform of local government] and to what extent the candidates can lead local government into a new era.”
In the New Democracy camp, the conservatives were playing up Sunday’s result as a moral victory for them, particularly as Papandreou withdrew his general election challenge. “PASOK has suffered a strategic defeat because its bluff failed and the Greek people sent a strong message that they want a change in direction,” ND leader Antonis Samaras told some of his party’s MPs yesterday. The conservatives are hoping that they will be able to win some key seats in the second round, including the Attica region, where their candidate Vassilis Kikilias trailed PASOK’s Yiannis Sgouros. “We can win Attica and we will win Attica. The success of the fight lies in your hands,” Samaras told the deputies.
However, a projection of the vote on a national basis conducted by Public Issue indicated that there was little for either of the main parties to celebrate. Compared to 43.92 percent of the national vote in the October 2009 national elections, PASOK only got 34.63 percent on Sunday. New Democracy, which had apparently hit rock bottom in 2009 when it obtained 33.48 percent in the parliamentary vote, only managed 32.72 in the local ones.
The only party that managed to increase its share of the national vote was the Communist Party (KKE). Based on yesterday’s projections, it got 10.88 percent on Sunday compared to 7.54 percent last October.
However, there was one statistic that will make all the parties ponder deeply. The turnout for Sunday’s vote was a record low, as 39 percent of voters stayed at home, surpassing the previous high of just over 37 percent, set during the 2009 European Parliamentary elections.
Key seats still up for grabs
Of the 13 new regions being contested in the elections, just two were secured in Sunday’s first round of voting, while about a third of the 325 municipalities were locked in.
The regions of Crete and the Southern Aegean both acquired governors backed by ruling PASOK, Stavros Arnaoutakis and Yiannis Machairidis respectively, the latter the former prefect of the Dodecanese Islands. The other 11 regions remained split, with PASOK leading in five of them and New Democracy in the other six.
In the hotly contested Attica region, the contest was close. PASOK’s Yiannis Sgouros, who gained 24.06 percent of votes, is to run off against conservative New Democracy’s Vassilis Kikilias, who got 20.43 percent. Yiannis Dimaras, the PASOK dissenter who ran as an independent, bowed out with 15.96 percent of votes. In the other major region of Central Macedonia, Panayiotis Psomiadis, the Thessaloniki prefect, won the first round comfortably with 43.2 percent of votes. He is to face his PASOK rival Markos Bolaris, who amassed 30.68 percent of votes.
In the first round, 104 mayors were elected, leaving another 221 municipalities, including Athens, Piraeus and Thessaloniki, to be contested by 442 candidates on Sunday.
***
Una dettagliata analisi del voto del quotidiano "Kathimerini".
tommy271
Forumer storico
Ad ogni modo, anche Papaconstantinou, ieri sera dagli USA accennando alla proposta Tedesca della Merkel faceva accenno che potrebbe trattarsi di una clausola da inserirsi solo sulle nuove emissioni. Non riguardante le vecchie ...
Concordando, in questo, sulla interpretazione che Give e Stock hanno dato rispetto all'intervista di Schauble su "Der Spiegel".
tommy271
Forumer storico
KKE satisfied with results
ANA-MPA/The Communist Party of Greece's (KKE) Central Committee in an announcement following its session on Monday expressed satisfaction over Sunday's results in local government elections and assessed that they highlighted the party as a rising power with the acquisition of thousands of new votes, so that "it is being recognised that KKE is the only party that increased its strength in votes and percentages."
As regards the second round of the elections, the KKE reiterates that "the rallying of popular forces, in contrast to the policy of (ruling) PASOK and (main opposition) New Democracy (ND) and in radical opposition with the barbarism of the Memorandum, the options of the IMF and the EU aiming at a continuous memorandum, must be enlarged in the second round as well. No vote in favour of the tickets of PASOK or ND where they are facing each other in the second round. Neither PASOK nor ND want and can change."
With the facts so far, the Central Committee said, compared to the national elections of 2009, there is an increase in votes by 70,000. The percentage approaches 11 percent, meaning that it is increasing by 3.3 percent. The Central Committee assesses that regardless of the vote, the number of those who judge positively evaluations and positions of KKE is widening, they are interested in knowing our alternative political proposal, they recognise the party's struggling political role and contribution.
(ana.gr)
***
Solita mentalità proto-sovietica.
Contenti loro ...
ANA-MPA/The Communist Party of Greece's (KKE) Central Committee in an announcement following its session on Monday expressed satisfaction over Sunday's results in local government elections and assessed that they highlighted the party as a rising power with the acquisition of thousands of new votes, so that "it is being recognised that KKE is the only party that increased its strength in votes and percentages."
As regards the second round of the elections, the KKE reiterates that "the rallying of popular forces, in contrast to the policy of (ruling) PASOK and (main opposition) New Democracy (ND) and in radical opposition with the barbarism of the Memorandum, the options of the IMF and the EU aiming at a continuous memorandum, must be enlarged in the second round as well. No vote in favour of the tickets of PASOK or ND where they are facing each other in the second round. Neither PASOK nor ND want and can change."
With the facts so far, the Central Committee said, compared to the national elections of 2009, there is an increase in votes by 70,000. The percentage approaches 11 percent, meaning that it is increasing by 3.3 percent. The Central Committee assesses that regardless of the vote, the number of those who judge positively evaluations and positions of KKE is widening, they are interested in knowing our alternative political proposal, they recognise the party's struggling political role and contribution.
(ana.gr)
***
Solita mentalità proto-sovietica.
Contenti loro ...
tommy271
Forumer storico
Spain, Portugal Sovereign CDS, Bund Spreads Edge Higher
LONDON (Dow Jones)--The cost of insuring Spanish and Portuguese sovereign debt against default edged higher early Tuesday, as did the premium that investors demand to hold those countries' debt over German bunds, after both countries came under pressure Monday.
The cost of five-year credit default swaps written on Spanish and Portuguese sovereign debt rose five basis points in both cases, to 268/273 basis points and 465/485 basis points respectively, according to one trader.
The yield spread between 10-year Spanish government bonds and the benchmark bund rose 5.7 basis points to 206.4 basis points, and the Portuguese 10-year spread to bunds was 11.3 basis points higher at 443.7 basis points, according to Tradeweb.
Irish and Greece five-year sovereign CDS were unchanged while 10-year spreads to bunds were almost flat in the case of Greece, at 902.8, and up just 3.2 basis points for Ireland at 551.7, according to Tradeweb.
LONDON (Dow Jones)--The cost of insuring Spanish and Portuguese sovereign debt against default edged higher early Tuesday, as did the premium that investors demand to hold those countries' debt over German bunds, after both countries came under pressure Monday.
The cost of five-year credit default swaps written on Spanish and Portuguese sovereign debt rose five basis points in both cases, to 268/273 basis points and 465/485 basis points respectively, according to one trader.
The yield spread between 10-year Spanish government bonds and the benchmark bund rose 5.7 basis points to 206.4 basis points, and the Portuguese 10-year spread to bunds was 11.3 basis points higher at 443.7 basis points, according to Tradeweb.
Irish and Greece five-year sovereign CDS were unchanged while 10-year spreads to bunds were almost flat in the case of Greece, at 902.8, and up just 3.2 basis points for Ireland at 551.7, according to Tradeweb.
- Stato