Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (9 lettori)

[tommy271]

Streamlining of public sector



The number of civil servants in Greece will have been reduced by 200,000 by the end of the government's 4-year term in office, interior minister Yiannis Ragoussis said in a newspaper interview appearing on Sunday, while salaries at ministries, where "scandalous benefits" continue to exist, will also be trimmed down.

In an interview with the Sunday newspaper To Vima, Ragoussis spoke of mismanagement of the human potential in the public sector for decades, which he said has evolved into a mentality that is destructive to the public interest.

It was only a matter of time for such a public sector to go bankrupt, the minister said, and announced that a circular will be issued in the coming days asking for a list of staff shortages as well as one of capable employees whose abilities are not being taken advantage of in the services in which they are employed.

Ragoussis stressed that there will be no dismissals of tenured civil servants, explaining that the reduction in staff numbers will result from the freeze on hiring and the ratio of "one hiring per five retirements", the reduction in the number of contract employees after the expiry of their contracts, termination of the STAGE program, and the reduced needs in the local and regional governments resulting from the 'Kallikratis' public administration reform program.

(ana.gr)

 

[tommy271]

Collective effort for economy


A collective effort for restructuring of the economy is necessary if Greece is to remain a modern and prosperous country, Bank of Greece (BoG) governor George Provopoulos said in a newspaper interview appearing on Sunday.

"If we want Greece to remain a modern, prospering country, we have only one choice: acceptance of and active participation in a collective effort for the restructuring of the economy," Provopoulos stressed in an interview with the Sunday edition of Kathimerini newspaper, adding that immediate, sweeping changes in the public sector "are a one-way street".

The central bank chief called the Economic Policy Program being applied since May "a historic opportunity for the country", if applied in all the areas it covers, "with persistence, consistency and determination", adding that "phenomena of hesitance, timidity or administrative unpreparedness, wherever met, must be dealt with immediately".

Provopoulos reiterated that restructuring of the Greek debt is neither necessary, nor desired, nor likely, while the only open prospect is that of extending the repayment period for Greece's 110 billion EU-IMF loan.

He further said that Greece's return to the markets is feasibly by the end of 2011, provided the fiscal and structural targets are met and clear indications are given that the economy is on the threshold of recovery.

(ana.gr)

***
Sempre sulle dichiarazioni del Governatore della Banca Centrale Greca.

 

[tommy271]

FinMin: Return to growth in 2012




Finance minister George Papaconstantinou predicted that Greece will return to positive growth rates in 2012, in a newspaper interview appearing on Sunday.

"The changes we are making today in the state will produce visible results of better services to the citizens in the next 2-3 years," he said in an interview with the Sunday newspaper To Vima.

"The return to positive growth rates as of 2012 will have a tangible effect in the market and on job positions," the minister added.

Papaconstantinou further noted the seven structural changes planned over the coming quarter which, he said, will change the structure and operation of the economy.

Those changes, namely the opening of closed-shop professions, deregulation of services, simplification of licensing procedures for setting up businesses, abolition of obstacles to investments, new labor relations, denationalisation and restructuring of the DEKO (public utilities and organisations) and liberalisation of the energy market, "will shakeups and upsets in the sectors that need to change, but, chiefly, will result in new opportunities".

Papaconstantinou stressed that the country has no margins to delay, in the coming quarter or in any other quarter, as this would put the financing at risk and is also the demand of the social whole.

"The long-term effort needed for our country to become what it deserves to be, to take advantage of all its prospects,, and to rid our lives of those structures that are holding us back, does not mean long-term recession and lack of a prospect," he added.

(ana.gr)

***
Piena fiducia nel programma di modernizzazione e risanamento del paese, da parte di Papaconstantinou.

 

[tommy271]

Occhi puntati sul vertice Ecofin di martedì prossimo:

http://www.ilsole24ore.com/art/fina...ormale-piano-aiuti-181410.shtml?uuid=AY84NQpC

 

[ferdo]

Occhi puntati sul vertice Ecofin di martedì prossimo:

http://www.ilsole24ore.com/art/fina...ormale-piano-aiuti-181410.shtml?uuid=AY84NQpC

non dovevano anche decidere sul prolungamento restituzione aiuti Grecia?
non l'ho visto citato nell'articolo


Stamattina spread: 888

 

[tommy271]

Crisi/ Ecofin discuterà aumento fondo stabilizzazione eurozona


Bruxelles, 6 dic. (Apcom) - La situazione sui mercati dopo la fragile tregua seguita venerdì al messaggio tranquillizzante (e soprattutto all'acquisto 'calmierante' dei titoli di Stato dei paesi più a rischio) da parte della Banca centrale europea; le prospettive di un nuovo intervento, dopo quello per l'Irlanda, anche per il Portogallo, da tempo nel mirino della speculazione come prossima vittima designata; e un confronto, che si annuncia piuttosto teso, sulla proposta di aumentare 'sostanzialmente' - o addirittura raddoppiare - l'ammontare del fondo di stabilizzazione Ue-Fmi a partire dal 2013 e forse anche prima: al di là dell'agenda ufficiale che non ne fa cenno, sono i punti più importanti di cui dovrebbero discutere i ministri delle finanze dell'Eurozona e dell'Ecofin nelle loro riunioni a Bruxelles, rispettivamente oggi pomeriggio e martedì (per l'Italia è prevista la partecipazione del ministro dell'Economia, Giulio Tremonti).

Ieri sera, cena informale tra il presidente della Commissione Europea, José Manuel Barroso, il presidente 'permanente' del Consiglio europeo Erman Van Rompuy, il presidente dell'Eurogruppo Claude Juncker ed il ministro belga della Finanze e presidente di turno dell'Ecofin, Didier Reynders, per preparare la sequenza di riunioni dei ministri delle Finanze dell'Eurozona e della Ue, ed il vertice dei capi di Stato e di governo dei ventisette del 16 e 17 dicembre, sempre nella capitale belga.
Contatti anche con il direttore generale del Fmi Dominique Strauss-Kahn, normali per preparare le discussioni dei ministri finanziari, soprattutto quando i mercati sono estremamente nervosi e volatili come nelle ultime settimane.

 

[tommy271]

Nomura Says S&P’s Greek ‘CreditWatch’ May Trigger ESM Rethink

December 05, 2010, 9:25 PM EST

By Paul Dobson
Dec. 3 (Bloomberg) -- Standard & Poor’s decision to place Greece’s BB+ sovereign rating on “CreditWatch” with negative implications may force policy makers to alter terms of the European Stability Mechanism, Nomura International Plc said.
S&P said yesterday it may downgrade Greece because the ESM could assign a preferred creditor status to future lending by euro area nations, hampering the ability of non-official holders of sovereign debt to be repaid.
“S&P’s warning about a potential downgrade of Greece’s debt could cause a rethink of the current crisis-resolution structures,” a team of London-based analysts led by Nick Firoozye wrote in an investor note today.


***
Dovremo ringraziare S&P ?

 

[tommy271]

DAL MONETARIO/REUTERS:

(...)

* Appuntamento principale della giornata l'Eurogruppo di Bruxelles (cui seguirà domani l'incontro dell'Ecofin), con la partecipazione di Tremonti. Al centro della discussione naturalmente il salvataggio dell'Irlanda - è atteso l'ok ufficiale al piano di aiuti - e i timori del mercato di un allargamento della crisi finanziaria verso altri paesi dell'area euro, in particolare Portogallo e Spagna. I ministri si confronteranno anche sui numerosi punti ancora da definire del documento di riforma del patto di stabilità.

* Tremonti e Juncker hanno invocato l'emissione di bond sovrani congiunti europei, 'E-bond', per sancire "l'irreversibilità dell'euro". Lo hanno scritto i due in un editoriale del Financial Times sottolineando che la creazione di un'Agenzia del debito europeo in grado di emettere tali bond sarebbe possibile questo mese stesso, se sostenuta dagli stati membri.

* In un'intervista televisiva, Bernanke ha detto che la Fed potrebbe comprare di più dei 600 miliardi di titoli del Tesoro che si è impegnata a riacquistare, qualora l'economia non riuscisse nella ripresa o se il tasso di disoccupazione restasse troppo alto.



(...)

 

[tommy271]

Lenihan named Europe’s worst finance minister

06.12.2010

The Financial Times has named Ireland’s Brian Minister Europe’s worst finance minister.
Out of 19 ranked ministers, Lenihan came in last as the newspaper said he has “run out of policy tools”, leaving the banking sector “back where it started”, despite the Government buying €74bn of their “dud loans” and providing €50bn in recapitalisations.
The FT also said he was unable to restore market confidence and Ireland was forced to accept an €85bn EU-IMF rescue package.
Despite also having to turn to the EU and IMF for assistance, Greece’s finance minister George Papaconstantinou was ranked 8th best minister as he stayed “cool” while negotiating the deal.
The newspaper said he managed to cut the budget deficit by a national record of 6 percentage points of GDP, adding he “restored the credibility of the nation’s number-crunching by setting up an independent statistical agency”.
Germany’s Wolfgang Schauble was named Europe’s best finance minister, praised for his spending control which led to Germany’s rapid recovery from recession.

The full list:

1. Wolfgang Schauble, Germany
2. Jacek Rostowski, Poland
3. Christine Lagarde, France
4. Anders Borg, Sweden
5. Jyrki Katainen, Finland
6. George Osborne, UK
7. Didier Reynders, Belgium
8. George Papaconstantinou, Greece
9 (joint). Jean-Claude Juncker, Luxembourg
9 (joint). Ivan Miklos, Slovakia
11. Jan Kees de Jager, Netherlands
12. Miroslav Kalousek, Czech Republic
13. Josef Proll, Austria
14. Giulio Tremonti, Italy
15. Claus Hjort Frederiksen, Denmark
16. Fernando Teixeira Dos Santos, Portugal
17 (joint). Elena Salgado, Spain
17 (joint). Gyorgy Matolcsy, Hungary
19. Brian Lenihan, Ireland


http://businessandleadership.com/economy/item/27106-lenihan-named-europes/

***
Forse un pò ingenerosi verso il nostro Tremonti: il mondo anglosassone non ci apprezza ...

 

[tommy271]

No room for Greek error to keep loan: finance minister


(AFP)


[FONT=Verdana, Arial, Helvetica, sans-serif]ATHENS (AFP) – Greece can afford no delay to a painful shakeup of its debt-burdened in order to maintain a loan lifeline from the EU and the International Monetary Fund that keeps the country afloat, the Greek finance minister said on Sunday.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]"We cannot afford to lag behind (with reforms), not only in the next quarter but in any quarter," George Papaconstantinou told To Vima newspaper in an interview.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]"Not only because we endanger the country's financing but mainly because the country and society allow no more time for delay in doing what is necessary to overcome the current deadlock," he said.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]Greece has committed itself to drastic reforms and cutbacks in its overblown state sector in return for a 110-billion-euro (148-billion-dollar) EU-IMF loan that saved it from earlier this year.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]The funding is released in instalments following three-month audits by experts from the EU, the IMF and the European Central Bank.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]In late November, Athens won approval for a new slice of rescue funding but the IMF and EU prescribed even tougher action on tax evasion, waste in health care and on state companies to merit another payout.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]Greece is now hoping to clinch approval from Brussels for a six-year extension to the repayment of the massive loan, to push forward the current settlement deadline in 2015 which most analysts see as untenable.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]IMF managing director Dominique Strauss-Kahn will be in Athens for talks with Greek officials on Tuesday.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]He is also expected to meet Greek President Carolos Papoulias and address parliament, an arrangement usually reserved for heads of state.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]"(Strauss-Kahn) is coming to help, not to wag his finger," a senior government source told Eleftherotypia daily on Sunday.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]The EU's Economic and Monetary Affairs Commissioner Olli Rehn will also be in Athens two days later.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]Greece's central banker argued in a Sunday interview with Kathimerini daily that the economy overhaul agreed with the EU and the IMF is a "historic opportunity" for the country.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]And the interior minister added in another To Vima interview that the Greek state sector, traditionally a byword for inefficiency and nepotism, would have some 200,000 fewer staff by 2013 through improved administration and hiring freezes.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]Greece's main unions have called a general strike on December 15, the seventh this year, in response to the Socialist government's austerity drive.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]The latest affront to unions is a draft law about to be tabled by the Labour Minister, reportedly enabling businesses in dire straits to sign individual contracts with staff permitting annual pay cuts of up to 12 percent, thereby bypassing collective wage agreements.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]In return, businesses will pledge to freeze layoffs for the duration of the deal, which could reportedly be up to two years.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]Talks with the government on the new labour law took a toll on the largest Greek union, GSEE, after a number of senior members walked out of the organisation's governing council over the weekend.[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]Greece has a mountain of over 300 billion euros and its economy is caught in a deep recession that has caused hundreds of thousands of layoffs.
[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]The Greek that erupted in the spring placed strong pressure on the euro and cast a spotlight on other weak eurozone economies such as Ireland and Portugal.
[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]After weeks of denial, Ireland ultimately accepted a similar bailout loan from the EU and IMF worth 85 billion euros last month.
[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]Bank of Greece governor George Provopoulos, who sits on the ECB's council, argued Sunday that the ordeal could end up strengthening the EU blocwe3.
[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]"The EU is a living entity that dynamically adapts to new circumstances," Provopoulos told Kathimerini daily.
[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]"Particularly at eurozone level, we see new crisis prevention and management mechanisms. I believe the final result will be a stronger, more flexible and competitive Europe," he said.[/FONT]

[FONT=Verdana, Arial, Helvetica, sans-serif]***[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]Le questioni centrali di questi ultimi giorni.
[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT]