Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (7 lettori)

[frmaoro]

Tuttavia, ciò non vuol dire che questo non accadrà. In definitiva questo episodio porterà o a un’unione ancora più stretta, più simile agli Stati Uniti o al Regno Unito, o a un ritorno a una forma più vicina all’organizzazione pre-Euro. "Dopo un breve viaggio in Germania fatto in questi giorni, ho lasciato il Paese con la forte sensazione che il sostegno all’Euro continui", conclude Stefan Isaacs.

Mentre la Germania potrebbe chiedere un prezzo maggiore per un ulteriore trasferimento di credito verso sud, è comunque verosimile che questo sostegno sia reso disponibile. "Finchè non ci sarà un tentativo serio di mettere dei paletti, gli investitori continueranno a comparare i rendimenti delle obbligazioni corporate dei Paesi europei core con i rendimenti dei titoli di stato dei Paesi periferici a favore dei primi", conclude il gestore.

 

[tommy271]

L’idea secondo cui i Paesi forti o quelli più deboli potrebbero uscire senza far rumore dall’euro, un progetto decennale, è ridicola: i costi, politici ed economici, sarebbero devastanti".

Guarda, io la vedo così: ieri Trichet ha deluso, non ha detto niente di nuovo. In mancanza di un quadro normativo chiaro entro cui muoversi (l'Ecofin è a metà dicembre) ed in previsione di una risposta negativa del mercato ha ricominciato gli acquisti sui periferici con grande dispiegamento di mezzi.
I risultati di ieri e oggi sono gli spread in calo.
A mio modo di vedere, potrebbe essere sufficiente per raggiungere il primo ostacolo da affrontare: l'Irlanda.
In caso di voto positivo, al Parlamento di Dublino, questo basterebbe a tranquillizzare i mercati, per arrivare all'Ecofin in un clima più disteso.
Poi si vedrà ...

 

[tommy271]

ASE Posts Mixed Signs On Friday



Athens Stock Exchange posts mixed signs on Friday, moving on a small fluctuation range around 1500 points.

Eurobank Securities expect the market to trade lower following a warning from S&P with regards to a possible downgrade, while Piraeus Securities expect the market to remain on consolidating mood.

“Lower spread of the Greek 10-year bond relative to the German one benefits local equities. We are optimistic about the ASE in the long term. However, short and mid-term volatility could revive hesitance among equity investors”, according to Kyprou Securities.

With the outlook of foreign markets remaining bullish and as the domestic market is attempting to increase its correlation with their course, Pegasus Securities expects the General Index to move on slightly higher grounds today.

Across the board, the GI rises 0.03% at 1,484.23 points.

(Capital.gr)

 

[tommy271]

New development bill to be unveiled Tuesday




The new draft development law will be unveiled at a Cabinet meeting on Tuesday, regional development and competitiveness minister Michalis Chryssohoidis announced on Friday, addressing a CEO SUMMIT conference titled "Viable Hope - Creating the future, not predicting it".

The new law will be activated in the first quarter of 2011, and will combine a series of reinforcements such as tax exemptions, low-interest loans and subsidies of the initial capital, in accordance with the individual developmental targets.

The tax exemptions aim to boost viable investment plans with secure profit prospects, while there will be special provision for young entrepreneurship.

Chryssohoidis said the new law will introduce pioneer, for Greece, procedures of objective criteria and transparency in the assessment of the investment plans.

The national plan for development, which is based on encouraging both public and private investments, further provides for doubling of the absorption rate of the National Strategic Reference Framework (NSRF, or ESPA in Greek) to 35 percent, the establishment of a National Entrepreneurship Development Fund (ETEAN) through which more than 2.5 billion euros will be allocated over the next two years, and utilisation of the Public and Private Sector Collaborations (SDIT) and European Investment Bank (EIB) knowhow for promoting small and medium size developmental projects in municipalities and peripheries.

The minister further stressed that only if some temporary and short-term privileges and benefits are put aside for the sake of a long-term economic growth and prosperity can there be viable hope in Greece.

(ana.gr)

 

[tommy271]

Greek Economic Sentiment Declines as Austerity Measures Kick In

By Natalie Weeks - Dec 3, 2010 12:37 PM GMT+0100


Greek economic sentiment fell in November as consumers adjusted to austerity measures aimed at ending the country’s fiscal woes.

An index measuring short-term economic trends slipped to 67 from 67.3 in October, the Athens-based Foundation for Economic & Industrial Research said in an e-mailed report today. Consumer confidence rose three points to minus 69, said the foundation, also known as IOBE.

“Greek households remain cautious and restrained when faced with the current economic climate,” IOBE wrote in the report. “Continued alleviation of the negative index in the next months could be an indication of the gradual re-adjustment of consumers’ hopes to the new economic facts.”

Greek Prime Minister George Papandreou agreed in May to austerity measures, including wage and pension cuts and higher taxes, in exchange for 110 billion euros ($146 billion) of emergency loans from the European Union and the International Monetary Fund that helped stave off a default.

Greece’s economy is in the second year of a recession and the government forecasts that it will contract 4 percent this year and 2.6 percent next year before returning to growth in 2012. The state budget deficit, which was more than five times the EU’s 3 percent ceiling in 2009, shrank 30 percent in the first 10 months of the year, according to final data released by the Finance Ministry on Nov. 22.



(bloomberg)

 

[tommy271]

Interventi finiti, per oggi, della BCE sui periferici?

Eurex - Fixed Income Derivatives

 

[frmaoro]

Ci mancava solo s&p per rovinarci la festa di un rimbalzo
I Btp non risentono del "warning" di S&P's sulla Grecia




BlueTG.it - venerdì, 3 dicembre 2010 - 13:15
L'annuncio dato nella notte italiana da parte di Standar & Poor's che potrebbe tagliare ulteriormente il rating “BB+” della Grecia a seguito delle nuove regole adottate dal Meccanismo di stabilità europea (Esm) che potrebbero favorire i creditori all'interno del meccanismo stesso a scapito di quelli al di fuori di esso non sembrano impensierire per ora i mercati obbligazionari dei “PIIGS”.
Anzi stamane il differenziale Btp-Bund a 10 anni oscilla nuovamente sui 150 punti base rispetto ai 159 registrati alla vigilia. (l.s.)

 

[tommy271]

Investec Asset Management: Greece May Restructure Its Debt At Some Point



Greece has a structural problem that has to be dealt even with an extension in terms of the loan repayments by the European Union, according to Bloomberg. “You would be wrong to rule out the possibility of a debt restructuring at some point,” said John Stopford, the London- based head of fixed income at Investec Asset Management.

“Any extension of a repayment period would definitely be positive for Greece, although I still can’t rule out the possibility of a restructuring because fiscal slippage is a real risk,” said Mohit Kumar, a fixed-income strategist at Deutsche Bank AG. “The whole political support for Greece depends on whether they are able to meet the consolidation targets. A lot of things can happen in the next three years.”

“The end game for countries like Greece and Ireland is still going to be a very high level of debt,” Stopford said.

“If bondholders are forced to take so-called haircuts on their Greek investments, the earlier the details are known the better”, said Spencer Jones, a sovereign debt specialist. “The more Greece draws from the rescue package, the deeper the potential losses should a debt reorganization be required”, he added.

“My view is that Greece might be able to avoid a debt restructuring, but that view clearly isn’t shared by some investors in the market,” Jones said. “With the bailout they got from the so-called Troika, those creditors would generally be considered preferred creditors.”

“What’s worrying is that it’s not clear what will turn the sentiment around,” Investec’s Stopford said. “The market will still be in a risk-off environment for a while.”


(Capital.gr)

 

[frmaoro]

Aspetto il 15 dicembre poi vediamo cosa fare

 

[ferdo]

Investec Asset Management: Greece May Restructure Its Debt At Some Point



Greece has a structural problem that has to be dealt even with an extension in terms of the loan repayments by the European Union, according to Bloomberg. “You would be wrong to rule out the possibility of a debt restructuring at some point,” said John Stopford, the London- based head of fixed income at Investec Asset Management.

“Any extension of a repayment period would definitely be positive for Greece, although I still can’t rule out the possibility of a restructuring because fiscal slippage is a real risk,” said Mohit Kumar, a fixed-income strategist at Deutsche Bank AG. “The whole political support for Greece depends on whether they are able to meet the consolidation targets. A lot of things can happen in the next three years.”

“The end game for countries like Greece and Ireland is still going to be a very high level of debt,” Stopford said.

“If bondholders are forced to take so-called haircuts on their Greek investments, the earlier the details are known the better”, said Spencer Jones, a sovereign debt specialist. “The more Greece draws from the rescue package, the deeper the potential losses should a debt reorganization be required”, he added.

“My view is that Greece might be able to avoid a debt restructuring, but that view clearly isn’t shared by some investors in the market,” Jones said. “With the bailout they got from the so-called Troika, those creditors would generally be considered preferred creditors.”

“What’s worrying is that it’s not clear what will turn the sentiment around,” Investec’s Stopford said. “The market will still be in a risk-off environment for a while.”


(Capital.gr)

non so se leggere la parte negativa (quasi tutto) o quella in rosso positiva