Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (4 lettori)

[tommy271]

Trade balance deficit shrinks




Greece's trade balance deficit shrank further in the nine-month period January to September in 2010, reflecting the recession into which the Greek economy has entered, the Bank of Greece (BoG) said on Friday.


According to figures released by the central bank, Greece's external deficit in the above period fell by 3 percent, or by 508 million euros, to 17.1 billion euros. This development was attributed to a reduction in the trade deficit and an increase in the services balance surplus. More specifically, the trade deficit fell by 922 million euros, attributed to an 11.4 percent (2.671 billion euros) reduction in imports (minus fuel and ships) more than counter-balanced a 2.5 percent reduction (209 million euros) in exports.


(ana.gr)

 

[tommy271]

FinMin: Only long-term Eurozone solution will calm jittery markets




FRANKFURT (ANA-MPA) -- Greek Finance Minister George Papaconstantinou was quoted here on Friday as stating that even if Ireland decides to accept assistance from Eurozone countries, it would not be enough to calm jittery markets, which are awaiting the creation of a permanent mechanism to tackle EU crises, according to a report by AFP.

Papaconstantinou said markets remained tense because they have not been persuaded that long-term solutions are on the horizon.

(ana.gr)

 

[tommy271]

Papandreou on adoption of new NATO concept




NATO's new strategic concept is trying to respond, twenty years after the end of the Cold War, to what the Alliance needs and this is done with success, Greek Prime Minister George Papandreou said at the end of a NATO summit in Lisbon on Friday night, in which the leaders of the 28 member countries approved a relevant document.

Papandreou added that the new strategic concept evaluates the new threats against humanity, such as climate change, mass movement of populations, economic and social inequalities, fundamentalism and others.

All these change NATO's form, which is called upon to support a more democratic society in the framework of the United Nations, Papandreou added.

The Greek premier also praised efforts for cooperation between the Alliance and Russia, saying that in this way Cold War taboos are overcome.


ΤέλοςφόρμαςΑρχήφόρμαςNATO’s former strategic concept dates back to 1999. The members' heads of state and government (HoSG), at the 2009 summit in Strasbourg, tasked the Alliance Secretary general to develop a new strategic concept and convene and lead a broad-based group of qualified experts, on the basis of whose recommendations the secretary general, Anders Fogh Rasmussen, drafted the New Strategic Concept which was endorsed at the Lisbon Summit.

The Strategic Concept is a framework document reviewed every decade, aiming to equip the Alliance to effectively approach new and emerging security challenges and guide its future political and military development.

The New Strategic Concept text reaffirms the Alliance's core task, that of collective defence and the members' territorial defence, and stresses the need for modernisation how this is done, including cyber defence and missile defence, while it also aims to clearly define NATO's mission to manage the full spectrum of crises in the 21st century.

(ana.gr)

 

[tommy271]

Samaras: Electorate sent message for change





ΑΝΑ-ΜPΑ/Main opposition New Democracy (ND) leader Antonis Samaras told a meeting of his party's executive secretariat on Friday that the electoral body had sent a message for change of the economic policy in the recent local government elections.
He told the meeting, which was convened to assess the election outcome, that ND was on the rise whereas PASOK and its policy had been belied both before and after the polls.
Samaras added that ND has stabilised its position and was now only "a breath away" from the leading party (ruling PASOK).
He added that ND's policy remains unwavering, and it was this that enabled the party's speedy recovery, and reiterated his call for altering the economic policy mix for exiting the crisis with economic recovery and growth, "and not with asphyxiation".
Samaras noted, however, that ND considers any structural changes useful and backs them.


(ana.gr)


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Tutto il mondo è paese.

 

[tommy271]

Qui trovate il notiziario video:

TV VIDEO

 

[tommy271]

Doubts over budget feasibility

Some ministers reportedly unconvinced that measures can raise the required revenue without layoffs


Just a day after Finance Minister Giorgos Papaconstantinou presented a budget for 2011 foreseeing radical spending cuts and tax increases, concerns were reportedly mounting amid the ranks of ruling PASOK about whether the ambitious measures can be executed and, if not, what the repercussions could be on the already beleaguered economy.

According to sources, even certain ministers have expressed doubts about the feasibility of raising 14 billion euros in budget savings and additional revenues next year. One of the key concerns is said to be whether the government will manage to raise billions of euros through the more efficient collection of outstanding taxes and by slashing spending in the state sector – with the debt-ridden health service and public utilities due to come under the knife first of all.

Another fear, sources have told Kathimerini, is that the government might have to resort to widespread redundancies if the budget is not executed exactly as foreseen. Although Papaconstantinou said that there would be no job cuts and that the only concrete plan is not to renew short-term contracts in the public sector, there are widespread fears that authorities might give in to pressure from Greece’s international creditors to make quick savings by carrying out layoffs.

Prime Minister George Papandreou, who yesterday traveled to Lisbon to attend a two-day NATO summit, has stressed that the budget will not harm “social cohesion” by cutting jobs and pensions. But the premier has reportedly also told his ministers not to make any concessions in executing the budget as this would send out a negative message to the financial markets, to which Greece hopes to return next year. Alternate Defense Minister Panos Beglitis voiced these concerns yesterday. “If we all start pulling this budget apart because we can’t or don’t want to implement it, then things will become very difficult,” Beglitis said.


(Kathimerini.gr)

 

[tommy271]

C/A deficit shrinks; shipping receipts rise



Greece’s current account deficit shrank 11.4 percent year-on-year in September, helped by a smaller trade deficit and rising shipping receipts, the country’s central bank said yesterday.

The Bank of Greece said the current account deficit in the year to September narrowed by an annual 2.9 percent to 17.12 billion euros, or about 7.4 percent of gross domestic product.

A key macroeconomic imbalance reflecting eroding competitiveness, Greece’s current account deficit narrowed to 11 percent of GDP last year from 14.5 percent in 2008 as imports slumped due to the recession.

Tourism receipts from nonresidents, a key earner for the country’s ailing economy, continued to slump in September, dropping at an annual pace of 5.1 percent to 1.52 billion euros.

“The current account deficit shrinks at a slower pace compared to previous months, as increased payments for fuel and shipbuilding dampen the positive effect from exports and shipping receipts,” National Bank economist Nikos Magginas told Reuters.

“The drop in tourism receipts is limited to 5.1 percent, bringing the annual pace of the drop in the first nine months of the year to 6.9 percent. This confirms the improvement in tourist arrivals in the peak summer season,” he added.

A government decision to reduce the value-added tax rate paid by hotels in 2011 to 6.5 percent, from 11 percent currently, is seen as helping to boost the sector which accounts for about 18 percent of the total 240-billion-euro economy.

Another key income earner for the country, shipping, saw an 18 percent rise year-on-year in revenues to 1.3 billion euros in September, the central bank data showed.


(Kathimerini.gr)

 

[tommy271]

Time to deliver on promises

Payment of fourth EU-IMF tranche, extension of loan period depend on progress made in reforms

By Sotiris Nikas - Kathimerini


The payment of the fourth tranche of money to Greece from the European Union and International Monetary Fund support mechanism in February will depend on the government’s success in meeting its budget targets in the coming months, particularly in the area of cost-cutting.

The latest budget foresees cuts in state-owned enterprises (DEKOs), defense and the central government, totaling 6.5 billion euros.

In order for Greece to reach this goal, it will need to show it has the determination and ability to implement control mechanisms and to restructure state-owned businesses and the public sector.

Once the government convinces its lenders that it has changed the way the public sector operates, then a plan to extend the repayment period on the 110-billion-euro EU-IMF loan will also go ahead.

Finance Minister Giorgos Papaconstantinou said yesterday any extension to Greece’s repayment obligations should come as a reward for budget-cutting efforts and shouldn’t be a substitute for measures not taken.
“If it comes, it should come as a reward for what has been done, not as a substitute for what hasn’t been done,” he told a conference in Frankfurt.

The minister also ruled out the option of a debt restructuring as “it would send the wrong message. It would not solve anything and it would harm the other periphery countries.”

At the same conference, International Monetary Fund Managing Director Dominique Strauss-Kahn said he’s confident Greece is on the right path to tackle its problems.
“I am very confident in the possibility for Greece to go back on track,” Strauss-Kahn said. The government “didn’t lose the election, that is very important.”

Greece’s representative at the IMF, Panagiotis Roumeliotis, said that Greece and the IMF view as “very positive” the possibility of extending the repayment period of the loan.

Talks on pushing back the repayment period on the 110-billion-euro loan have already started, according to sources, which said that attempts are being made to reach an agreement on the issue ahead of the disbursement of the fourth tranche..

(Kathimerini.gr)

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Appuntamento per febbraio 2011 ...

 

[tommy271]

La chiusura di ieri sugli spread/bund ci riporta entro l'arco di oscillazione "consueto" dell'ultima settimana.

La PDMA ha annunciato venerdì che a dicembre non si terrà nessuna asta dei bot/greek: come già avvenuto in agosto, anche dicembre è considerato un mese "festivo".
Se le motivazioni possono essere alquanto discutibili è altrettanto innegabile che non è necessario raccogliere "liquidi" sopra determinati rendimenti.

L'Irlanda continua a rappresentare lo snodo nevralgico di tutti i sommovimenti intorno al Club Med, nel week-end si dovrebbe formalizzare la richiesta di Dublino per gli aiuti alla propria economia.

Non è ancora chiaro se il programma si svilupperà su due piani distinti (banche e stato).
Probabilmente assisteremo ad una prima immissione di liquidità unicamente per le banche, essendo il governo di Dublino ancora coperto per i primi mesi del 2011, anche se la soluzione migliore sarebbe definire la faccenda nel suo insieme.

Gli scogli da superare sono molti, primo tra gli altri la tassazione iniqua che la "Tigre" applica alle società estere, vista come un atto di concorrenza sleale dai partner comunitari.

Portogallo,Spagna e Italia mantengono le posizioni.

Grecia 896 pb. (900)
Irlanda 569 pb. (559)
Portogallo 423 pb. (428)
Spagna 203 pb. (202)
Italia 151 pb. (156)

 

[giutrader]

Come si muovono le banche:

Le banche rosolano a fuoco lento i titoli Pigs - Il Sole 24 ORE

Certo che con un aumento dei tassi d'interesse, le banche che hanno accumulato titoli di stato a basso rendimento ma sicuri avranno certamente delle ingenti perdite. Magari in quel dato periodo potrebbero spostare più capitali verso titoli ad alto rendimento.

La partita è aperta, la Grecia stà facendo il possibile e di questo bisogna darne atto. Un default non conviene a nessuno. Secondo me allungheranno il rimborso alla troika e nel frattempo riusciranno a ridurre come da programma il rapporto deficit/pil. Nel frattempo agli europei conviene tenere l'euro basso per favorire le esportazioni.....sempre secondo me....