Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (17 lettori)

[tommy271]

GSEE: Crisis in presidiium following high-level resignations




The secretary general and alternate president of the General Confederation of Workers of Greece (GSEE) resigned from their posts on Saturday during a tension-filled meeting of the umbrella trade federation's presidium, in protest over handling and choices by GSEE president Yiannis Panagopoulos.

A furor erupted earlier in the week over reports that Panagopoulos was present at a meeting on Wednesday between the Federation of Hellenic Enterprises (SEB) presidium and the so-called "social partners" on labor relations.

SEB president Dimitris Daskalopoulos said on Thursday that the GSEE leadership had indeed been present at Wednesday's meeting with the social partners, and that negotiations with GSEE representatives lasted for six hours.

Earlier Panagopoulos had denied reports of an agreement between GSEE and employers for a reduction in private sector wages, calling reports "fabricated" and an "orchestrated vileness that serves the interests of employers' circles", while he also reiterated GSEE's demand for collective labour agreements and their universal application and extension.

On his part, Daskalopoulos said that while no agreement reached, a discussion with social partners was held regarding an agreement that will consolidate the flexibility and validity of collective work contracts. He also downgraded the proposals concerning a 6-day work week and overtime work contained in a list of 250 impediments to entrepreneurship released by SEB.

During a heated meeting on Saturday, GSEE secretary general V. Bouzoulas and alternate president George Gavrilis resigned in disagreement with Panagopoulos' management and choices.

Bouzoulas accused Panagopoulos of secretly negotiating with SEB without the knowledge of the federation's presidium.

Bouzoulas and Gavrilis clarified, however, that they will not resign from the other GSEE bodies, and called for the convening of an electoral congress, which was rejected by Panagopoulos, who said that the GSEE board was recently elected with a wide majority.

(ana.gr)

***
Difficile mediare le posizioni, all'interno del maggior sindacato del paese.
L'orientamento è filo-socialista, ma la crisi radicalizza le posizioni.

 

[tommy271]

Qui trovate numeri e tabelle dello spread/bund sui periferici:

Rendimenti e Spreads vs Bund dei Tds 10ennali ‎(

1 2)

 

[tommy271]

Wikileaks Reveals Germany’s Intent to Kick Out Greece from EU

Posted on 03 December 2010 by Venetia Aftzigianni


Onaler.gr states that on February 2010, Germany left open the possibility that Greece could be expelled from the eurozone due to its economic state. Discussions took place in Germany. They were brought to light by diplomatic telegrams published by Wikileaks. During deliberations between the American Ambassador and the Bavaria Prime Minister Horst Seehofer, the latter stated that he was not sure if the EU could deal with Greece’s debt. As these discusssions took place in February 2010, it is safe to assume that the expulsion of Greece was discussed and even planned.

(Greek Reporter.gr)

 

[tommy271]

Il punto sullo "stato dell'arte":

Rischio declassamento con i nuovi salvataggi Ue - Il Sole 24 ORE

 

[tommy271]

Fast reforms can help Greece convince markets-cenbanker



ATHENS | Sat Dec 4, 2010 8:32pm EST



ATHENS Dec 5 (Reuters) - Greece must try to cut deficits and pursue economic reforms at a faster pace to persuade markets of its ability to dig out of its debt crisis, its central banker said in a newspaper interview published on Sunday.

The overborrowed country avoided default after securing 110 billion euros ($147 billion) of emergency funding from its euro zone peers and the International Monetary Fund in May. Its fiscal derailment sparked a sovereign debt crisis that is still shaking the euro.

"Fiscal adjustment cannnot be continued successfully if it is not coupled with a radical revamp of the state and a structural modernisation of the economy," Bank of Greece (BOGr.AT) Governor George Provopoulos told Sunday's Kathimerini newspaper.

Also a governing council member of the European Central Bank, Provopoulos repeated his view that debt restructuring was not necessary, nor desirable and projected that by the end of 2011 Greece would be be in a position to return to bond markets.

"Conditions for Greece to return to markets include the successful implementation of the (EU/IMF/ECB) fiscal programme, that is meeting fiscal and structural targets, and clear signs the economy's recovery is about to begin," he said.
"It is possible for all this to happen by the end of next year."

He told the paper Greece should strive for a speedier pace of fiscal adjustment as beating targets set by its lenders would positively surprise markets, improving investors' views on its economic prospects.

Concerns that Greece could be forced to some type of debt restructuring after the three-year funding programme ends have kept Greek bond yield spreads over German bonds near peak-crisis levels.

Paying back the bailout money in a span of two years after a three-year grace period, on top of hefty bond rollovers, would make the repayment plan too tough to service, many analysts have argued.

But Athens is likely to get a break. On Monday, Finance Minister George Papaconstantinou said a repayment extension would be given to Greece, meaning it wwould have until 2021 to pay back its 110 billion euro EU/IMF bailout money.

Policymakers hope the move will help dilute fears the country will restructure its debt and facilitate its return to bond markets. An easier-to-service repayment plan can give its 240 billion euro economy more time to return to growth.

"There is a preliminary intention of the IMF and recently of the Eurogroup to discuss an extension of the repayment of the 110 billion euros of loans. Such a development would suggest defeat for all those who propagate debt restructuring scenarios," Provopoulos said.


***
La nostra visione comune.

 

[tommy271]

Greek Debt Restructure Unneeded, Provopoulos Tells Kathimerini

By Maria Petrakis - Dec 4, 2010 8:23 PM GMT+0100 Sat Dec 04 19:23:24 GMT 2010


Greece doesn’t need to restructure its debt provided the country sticks closely to targets to reduce its deficit, Greek Central Bank Governor George Provopoulos said in an interview with Kathimerini newspaper.

A restructuring isn’t necessary, desirable or possible, Kathimerini cited Provopoulos, who’s also a member of the European Central Bank Governing Council, as saying. The social and economic cost of restructuring would be great, he said, according to Kathimerini.

This week’s preliminary agreement on extending the planned repayment of 110 billion euros ($145 billion) of European Union and International Monetary Fund loans would be a “defeat” for those who want debt restructuring, he said.

Provopoulos said Greece could return to international markets by the end of next year as long as the government sticks to promised targets and there are clear signs the economy is poised to return to growth, according to the interview. Greece needs to draft an analytical ‘road-map’ that will revive growth, he said.

(Bloomberg)

***
Anche qui si ribadisce, come abbiamo avuto già modo di discuterne anche noi, che la "ristrutturazione" del debito ellenico non è opportuna, necessaria o possibile.
Non è un'economia che rilancerebbe export e consumi se tornasse alla dracma.
Tutt'altro ... rimanendo all'interno dell'Euro continuerebbe ad usufruire di finanziamenti e importazioni di materie prime a basso costo.
Il turismo poi, principale fonte di reddito, non va propriamente dove si spende meno ma in un luogo tranquillo e sicuro. Solo rimanendo in ambito moneta unica, aldifuori di possibili scenari "argentini", questo potrà ritornare a fiorire ai livelli di qualche anno fa.

 

[tommy271]

Papandreou Places 79th on Foreign Policy’s List of 100 Prominent People!

Posted on 04 December 2010 by Tonia Georgiou


Greek Prime Minister George Papandreou placed 79th in a list of 100 prominent people who affect the international stage, according to the American magazine Foreign Policy.
The magazine states: “He did the best during the worst year for Greece”.
Second place went to the President of the International Monetary Fund Dominique Strauss-Kahn, and to World Bank President Robert Zoellick.
Other prominent Greeks that made the list are Harvard Proffesor Nickolas Christakis and Apple’s founder Steve Jobs.

(Greek Reporter.gr)

 

[frmaoro]

che tipo di restrutturazione hanno subito i bond islandesi ?
qualcuno ne sa qualcosa?

 

[tommy271]

che tipo di restrutturazione hanno subito i bond islandesi ?
qualcuno ne sa qualcosa?

I titoli di stato non mi risulta.
Ci penserà il "cambio" a fare il resto ... per gli investitori esteri.

 

[tommy271]

I TITOLI DEI GIORNALI:

Athens' Sunday newspapers at a glance


APOCALYPSEIS: "400 million euros looting in hospitals - Parliamentary fact-finding commission must be set up into the Colpo Grosso in health".

AVGHI: "They're cutting two salaries in the private sector - Layoffs to reach 850,000 in 2010".

AVRIANI: "They caught the Revolutionaries' Sect red-handed - The group's arms cache and operational branch in the hands of the police".

CHORA: "15 years in the dark - Unemployment, hunger, immigration".

ELEFTHEROS TYPOS: "Secret agreement between government, employers".

ELEFTHEROTYPIA: "Burning front in education".

EPOCHI: "The Visitors in Black - Strauss-Kahn and Rehn political backing for Papandreou".

ETHNOS: "Troika blocks Katselis' agreement with social partners".

KATHIMERINI: "The four points of the consensus plan".

LOGOS: "Downhill in bank profits".

NIKI: "How to avoid the Tax Bureau's vise".

RIZOSPASTIS: "Government, employers, GSEE (General Confederation of Workers of Greece) plunging working people into poverty".

TO VIMA: "Reduction of salaries, or else layoffs..."

VRADYNI: "Survival guide: 10 ways to avert bankruptcy".

(ana.gr)