Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (9 lettori)
- Creatore Discussione Imark
- Data di Inizio
- Stato
tommy271
Forumer storico
Debt solutions prepared for growing woes
Sell-off plan targets raising 7 bln euros
By Stelios Bouras - Kathimerini English Edition
Greece’s international lenders may provide the country with additional money or more time to repay its 110-billion-euro loan but the government will have to dig deep to sell off more of its silverware along with further budget cuts in the coming years.
Representatives from the International Monetary Fund, the European Central Bank and the European Commission concluded a review of Greece’s progress yesterday, giving the green light for a third loan payment of 9 billion euros.
Poul Thomsen, head of the IMF’s Greece mission, said that if Athens needs more funds due to its inability to borrow money on debt markets, then the lenders will examine the possibility of extending the EU-IMF loan repayment period or providing another loan.
Greece’s debt repayment schedule for the next three years foresees the payment of some 84 billion euros in interest and principle. In addition to this amount, treasury bills need to be refinanced and the country has to repay tranches of the IMF-EU loans in four to five years.
Finance Minister Giorgos Papaconstantinou admitted yesterday that “it is obvious that payments after 2013 will be difficult,” reiterating that he expects Greece to return to the debt market next year.
With Greece seen missing a full-year 2010 budget deficit target by about 1.5 percentage points, Athens has pledged more cuts to stay on target in the coming years.
The government has agreed to identify additional fiscal measures for 2012-14, worth 5 percent of gross domestic product, to be able to cut its budget deficit to below 3 percent of GDP by 2014, according to Thomsen.
On the privatization front, Papaconstantinou said Greece plans to raise 7 billion euros in revenues by 2013, with the first billion to be raised in 2011. No further details were disclosed.
“We will complete the recording of real estate assets by the middle of 2011,” he told reporters.
The government’s real estate portfolio is estimated by property experts to be worth more than 300 billion euros.
A large number of ministries involved in the decision-making process and a lack of clear ownership rights on property claimed by the government are seen as being among the obstacles to developing the assets.
[email protected]
(Kathimerini.gr)
By Stelios Bouras - Kathimerini English Edition
Greece’s international lenders may provide the country with additional money or more time to repay its 110-billion-euro loan but the government will have to dig deep to sell off more of its silverware along with further budget cuts in the coming years.
Representatives from the International Monetary Fund, the European Central Bank and the European Commission concluded a review of Greece’s progress yesterday, giving the green light for a third loan payment of 9 billion euros.
Poul Thomsen, head of the IMF’s Greece mission, said that if Athens needs more funds due to its inability to borrow money on debt markets, then the lenders will examine the possibility of extending the EU-IMF loan repayment period or providing another loan.
Greece’s debt repayment schedule for the next three years foresees the payment of some 84 billion euros in interest and principle. In addition to this amount, treasury bills need to be refinanced and the country has to repay tranches of the IMF-EU loans in four to five years.
Finance Minister Giorgos Papaconstantinou admitted yesterday that “it is obvious that payments after 2013 will be difficult,” reiterating that he expects Greece to return to the debt market next year.
With Greece seen missing a full-year 2010 budget deficit target by about 1.5 percentage points, Athens has pledged more cuts to stay on target in the coming years.
The government has agreed to identify additional fiscal measures for 2012-14, worth 5 percent of gross domestic product, to be able to cut its budget deficit to below 3 percent of GDP by 2014, according to Thomsen.
On the privatization front, Papaconstantinou said Greece plans to raise 7 billion euros in revenues by 2013, with the first billion to be raised in 2011. No further details were disclosed.
“We will complete the recording of real estate assets by the middle of 2011,” he told reporters.
The government’s real estate portfolio is estimated by property experts to be worth more than 300 billion euros.
A large number of ministries involved in the decision-making process and a lack of clear ownership rights on property claimed by the government are seen as being among the obstacles to developing the assets.
[email protected]
(Kathimerini.gr)
tommy271
Forumer storico
Shipowners spend
Greek shipowners, with the world’s second-largest merchant fleet after that of China, increased spending on new ship orders tenfold in the first 10 months of the year, shipbroker Golden Destiny said. Greeks ordered 231 new vessels, with a total carrying capacity of just over 25.8 million tons, for $6.38 billion; that compared with 36 orders for $623.8 million in the same period of 2009, the Piraeus-based broker said in an e-mailed report. In October alone, Greek owners spent $450 million on 13 orders. Dry-bulk ships, which carry commodities such as coal and steel, accounted for 142 orders, while Greeks placed 65 orders for oil, petroleum and chemical tankers and 19 for container ships, according to the report.
(Bloomberg)
Greek shipowners, with the world’s second-largest merchant fleet after that of China, increased spending on new ship orders tenfold in the first 10 months of the year, shipbroker Golden Destiny said. Greeks ordered 231 new vessels, with a total carrying capacity of just over 25.8 million tons, for $6.38 billion; that compared with 36 orders for $623.8 million in the same period of 2009, the Piraeus-based broker said in an e-mailed report. In October alone, Greek owners spent $450 million on 13 orders. Dry-bulk ships, which carry commodities such as coal and steel, accounted for 142 orders, while Greeks placed 65 orders for oil, petroleum and chemical tankers and 19 for container ships, according to the report.
(Bloomberg)
tommy271
Forumer storico
TAP pipeline study gets under way
The consortium behind the Trans-Adriatic Pipeline (TAP) has launched a study in northern Greece to minimize the social and environmental impact of the planned project in the region along with any possible damage to the area’s cultural heritage.
TAP, a pipeline that will transport natural gas from the Caspian region to Europe via Greece, Albania and Italy, will bring together 28 experts over the next three months to examine the proposed route of the project, along with possible alternatives.
“The engineers, geologists, seismic and logistics experts, as well as environmental and social professionals and cultural heritage specialists, will survey various 2-kilometer wide corridors along the TAP route with a total length of 500 kilometers,” it said in a statement. The initial phase of the study began on Monday and will run until the end of the week with the second phase expected to start early next year.
The routing optimization study has been completed for Albania and is well advanced in Italy, the company added. TAP is a joint venture consisting of Swiss EGL, Norwegian Statoil and German E.ON Ruhrgas.
(Kathimerini.gr)
The consortium behind the Trans-Adriatic Pipeline (TAP) has launched a study in northern Greece to minimize the social and environmental impact of the planned project in the region along with any possible damage to the area’s cultural heritage.
TAP, a pipeline that will transport natural gas from the Caspian region to Europe via Greece, Albania and Italy, will bring together 28 experts over the next three months to examine the proposed route of the project, along with possible alternatives.
“The engineers, geologists, seismic and logistics experts, as well as environmental and social professionals and cultural heritage specialists, will survey various 2-kilometer wide corridors along the TAP route with a total length of 500 kilometers,” it said in a statement. The initial phase of the study began on Monday and will run until the end of the week with the second phase expected to start early next year.
The routing optimization study has been completed for Albania and is well advanced in Italy, the company added. TAP is a joint venture consisting of Swiss EGL, Norwegian Statoil and German E.ON Ruhrgas.
(Kathimerini.gr)
gianfranco199
Forumer attivo
Tommy è minimamente plausibile pensare ,che le dichiarazioni della Merkel, mirino ad indebolire l'euro solo x favorire le esportazioni o è fantaeconomia?
tommy271
Forumer storico
Un Euro debole certamente è un volano per l'export tedesco che soffre un Euro forte.
Poi, lo sappiamo l'economia tedesca è da traino per quella dell'Europa continentale.
Non penso però che l'intenzione della Frau sia questa.
Io propenderei di più per una inadeguatezza del ruolo ricoperto dalla Merkel.
tommy271
Forumer storico
Athens has homework to do, says troika
Structural reforms essential in 2011
Representatives of the European Commission, European Central Bank and International Monetary Fund (known as the troika) yesterday approved the release a 9-billion-euro tranche of loans but warned that the government would need to undertake some serious structural reforms in 2011, leaving it with a long to-do list ahead of the new year.
The troika officials praised Greece for reducing its runaway deficit from 15.4 percent of gross domestic product in 2009 to 9.4 percent by the end of this year but warned that there could be no letting up now. «The program is off to an impressive start but it is also at a crossroads,» said IMF mission chief for Greece Poul Thomsen. «The sustainability of achievements to date will only be maintained if there is a very determined effort to move on structural reforms.»
Athens is aiming to cut its deficit by a further 5 percent of GDP in 2011 but Thomsen said a range of measures would be needed to achieve this. «The 5 percent cut has to come from fiscal structural reforms… it will not come from tax increases, it has to come from better tax collection and more efficient use of public resources.»
Thomsen said that Greece could save 2 percent of its annual GDP by conducting some reforms in the healthcare sector alone. The government has been set a target of reducing healthcare costs by 2.1 billion euros next year by pushing through a computerized prescription system and cutting back on spending at public hospitals and social security funds.
However, this is just one on a long list of tasks the government will face. Others include shutting down some public bodies, overhauling the tax collection mechanism, passing a law on the liberalization of closed professions and reducing costs at public enterprises by 800 million euros per month.
The government will also table a bill next month that will allow companies to bypass collective contracts if they run into financial difficulties and offer employees alternative pay pacts, as long as they do not earn less than the national minimum wage of 740 euros before tax. The circumstances under which firms will be allowed to legally impose a wage cut on their employees have yet to be determined.
***
Un commento del Kathimerini sulle dichiarazioni della Troika.
Representatives of the European Commission, European Central Bank and International Monetary Fund (known as the troika) yesterday approved the release a 9-billion-euro tranche of loans but warned that the government would need to undertake some serious structural reforms in 2011, leaving it with a long to-do list ahead of the new year.
The troika officials praised Greece for reducing its runaway deficit from 15.4 percent of gross domestic product in 2009 to 9.4 percent by the end of this year but warned that there could be no letting up now. «The program is off to an impressive start but it is also at a crossroads,» said IMF mission chief for Greece Poul Thomsen. «The sustainability of achievements to date will only be maintained if there is a very determined effort to move on structural reforms.»
Athens is aiming to cut its deficit by a further 5 percent of GDP in 2011 but Thomsen said a range of measures would be needed to achieve this. «The 5 percent cut has to come from fiscal structural reforms… it will not come from tax increases, it has to come from better tax collection and more efficient use of public resources.»
Thomsen said that Greece could save 2 percent of its annual GDP by conducting some reforms in the healthcare sector alone. The government has been set a target of reducing healthcare costs by 2.1 billion euros next year by pushing through a computerized prescription system and cutting back on spending at public hospitals and social security funds.
However, this is just one on a long list of tasks the government will face. Others include shutting down some public bodies, overhauling the tax collection mechanism, passing a law on the liberalization of closed professions and reducing costs at public enterprises by 800 million euros per month.
The government will also table a bill next month that will allow companies to bypass collective contracts if they run into financial difficulties and offer employees alternative pay pacts, as long as they do not earn less than the national minimum wage of 740 euros before tax. The circumstances under which firms will be allowed to legally impose a wage cut on their employees have yet to be determined.
***
Un commento del Kathimerini sulle dichiarazioni della Troika.
StockExchange
Forumer storico
Debt solutions prepared for growing woes
Sell-off plan targets raising 7 bln euros
By Stelios Bouras - Kathimerini English Edition
Greece’s international lenders may provide the country with additional money or more time to repay its 110-billion-euro loan but the government will have to dig deep to sell off more of its silverware along with further budget cuts in the coming years.
Representatives from the International Monetary Fund, the European Central Bank and the European Commission concluded a review of Greece’s progress yesterday, giving the green light for a third loan payment of 9 billion euros.
Poul Thomsen, head of the IMF’s Greece mission, said that if Athens needs more funds due to its inability to borrow money on debt markets, then the lenders will examine the possibility of extending the EU-IMF loan repayment period or providing another loan.
Greece’s debt repayment schedule for the next three years foresees the payment of some 84 billion euros in interest and principle. In addition to this amount, treasury bills need to be refinanced and the country has to repay tranches of the IMF-EU loans in four to five years.
Finance Minister Giorgos Papaconstantinou admitted yesterday that “it is obvious that payments after 2013 will be difficult,” reiterating that he expects Greece to return to the debt market next year.
With Greece seen missing a full-year 2010 budget deficit target by about 1.5 percentage points, Athens has pledged more cuts to stay on target in the coming years.
The government has agreed to identify additional fiscal measures for 2012-14, worth 5 percent of gross domestic product, to be able to cut its budget deficit to below 3 percent of GDP by 2014, according to Thomsen.
On the privatization front, Papaconstantinou said Greece plans to raise 7 billion euros in revenues by 2013, with the first billion to be raised in 2011. No further details were disclosed.
“We will complete the recording of real estate assets by the middle of 2011,” he told reporters.
The government’s real estate portfolio is estimated by property experts to be worth more than 300 billion euros.
A large number of ministries involved in the decision-making process and a lack of clear ownership rights on property claimed by the government are seen as being among the obstacles to developing the assets.
[email protected]
(Kathimerini.gr)
A beh dai allora siamo a cavallo! Male che va gli pignoriamo tutti gli immobili pubblici e il debito è bello che pagato
Ce lo vedo lo stato Greco a vendersi tutti gli immobili e poi andarsene in affitto
ESEGP Buy MOT GREECE 37 4.5 EUR 10000 52,75 24/11/10 09:40:01 1000 52,75
Se continui così, solo a te per ripagarti ti devono consegnare, chiavi in mano, questo:
Può interessarti come residenza estiva?
p.s.
Voi che dite in quell'estimo immobiliare ce l'avranno incluso questo?
.- Stato