Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (2 lettori)

[tommy271]

I TITOLI DEI GIORNALI:

Government assurances that there is no question of restructuring of Greece's debt and changes in retirement conditions were the main front-page items in Athens' dailies on Wednesday.



ADESMEFTOS TYPOS: "What is changing in the pensions for DEKO (public utilities and organisations) employees".

AVRIANI: "Total recall to the speculation of bankruptcy and return to the drachma".

ELEFTHEROS TYPOS: "Public Power Corporation (PPC) scam with rate hikes of up to 39 percent".

ELEFTHEROTYPIA: "Off-setting of VAT rebates with debts owed to the state".

ESTIA: "Vicious circle with the state borrowing".

ETHNOS: "The new and and working years requirements for retirement in DEKO and banks".

IMERISSIA: "VAT payments in instalments - Injection of liquidity to enterprises".

KATHIMERINI: "Payment of VAT in instalments being mulled again".

LOGOS: "Chaos with the offsetting of VAT and debts to the state".

NAFTEMPORIKI: "Government rejects speculations of debt restructure".

RIZOSPASTIS: "New government announcements devastate the people's health".

TA NEA: "Pensions: What will be in effect in DEKO and banks".

VRADYNI: "Dangerous amateurs are governing us".

(ana.gr)

 

[tommy271]

Al 63600000000 € sorgerà nel 2011 la spesa per il debito pubblico

Τετάρτη 5 Ιανουαρίου 2011 [ 11:42 ]​

Mercoledì 5 gennaio 2011 [11:42]

Σε 63,6 δισ. ευρώ θα ανέλθουν το 2011 οι δαπάνες εξυπηρέτησης της δημόσιας πίστης, δηλαδή του υφιστάμενου χρέους και των νέων δανείων που θα λάβει η Ελλάδα.​

A 63,6 miliardi nel 2011 raggiungerà i costi del servizio di pubblica fede, che il debito esistente e nuovi prestiti da adottare da parte della Grecia.

Σε απόφαση του υφυπουργού Οικονομικών κ. Φ.​

In una decisione del Segretario per le Finanze, il signor F.

Σαχινίδη για την κατανομή των πιστώσεων του Προϋπολογισμού 2011 περιγράφεται αναλυτικά το κόστος εξυπηρέτησης του δημοσίου χρέους, αλλά και οι υποχρεώσεις που έχει αναλάβει ο Προϋπολογισμός για πληρωμές τόκων, χρεωλυσίων, εγγυήσεων παλαιών οφειλών, αλλά και προμηθειών.​

Sachinidis la ripartizione del bilancio 2011 descrive in dettaglio il costo del servizio del debito, e gli obblighi assunti dal bilancio per i pagamenti di interessi, ammortamenti, garanzia di debiti pregressi, e le forniture.

Σύμφωνα με την απόφαση οι εφετινές δαπάνες εξυπηρέτησης της δημόσιας πίστης έχουν ως εξής:​

Secondo la decisione di spesa di quest'anno di credito di servizio pubblico nel modo seguente:

Τόκοι ομολόγων στην αγορά εσωτερικού 12,3 δισ. ευρώ​

Interessi su obbligazioni sul mercato interno, 12,3 miliardi

Τόκοι ομολόγων στην αγορά εξωτερικού 441 εκατ. ευρώ​

Interessi su obbligazioni estere nel mercato di € 441.000.000

Τόκοι τιτλοποιήσεων εξωτερικού 30 εκατ. ευρώ​

Interessi su operazioni di cartolarizzazione all'estero 30 milioni

Τόκοι εντόκων γραμματίων του Ελληνικού Δημοσίου 300 εκατ. ευρώ​

Interessi su buoni del Tesoro, il governo greco 300 milioni

Τόκοι εντόκων γραμματίων του Ελληνικού Δημοσίου (φυσικοί τίτλοι) 6 εκατ. ευρώ​

Interessi su buoni del Tesoro, il governo greco (prove fisiche) 6.000.000

Τόκοι δανείων Τράπεζας της Ελλάδας 99,3 εκατ. ευρώ​

Gli interessi sui prestiti della Banca di Grecia, 99,3 milioni

Τόκοι λοιπόν δανείων εσωτερικού 171,5 εκατ. ευρώ​

Interessi su altri prestiti 171,5 milioni domestico

Τόκοι ειδικών και διακρατικών δανείων 223,9 εκατ. ευρώ​

Interessi su finanziamenti specifici e 223,9 milioni di interstatali

Τόκοι δανείων μηχανισμού στήριξης 2 δισ. ευρώ​

Interessi su prestiti meccanismo di sostegno 2 miliardi

Τόκοι λοιπών δανείων εξωτερικού 78,5 εκατ. ευρώ​

Interessi su altri prestiti all'estero 78,5 milioni

Χρεωλύσια ομολόγων στην αγορά εσωτερικού 23,9 δισ. ευρώ​

Ammortamento di obbligazioni sul mercato interno, 23,9 miliardi

Χρεωλύσια ομολόγων στην αγορά εξωτερικού 1,37 δισ. ευρώ​

Ammortamento mercato obbligazionario all'estero 1.370 milioni

Χρεωλύσια τιτλοποιήσεων εξωτερικού 382 εκατ. ευρώ​

Cartolarizzazione ammortamento esterno 382 milioni

Χρεωλύσια εντόκων γραμματίων του Ελληνικού Δημοσίου 18 δισ. ευρώ​

Ammortamento buoni del Tesoro del governo greco a 18 miliardi

Χρεωλύσια εντόκων γραμματίων του Ελληνικού Δημοσίου (φυσικοί τίτλοι) 17 εκατ. ευρώ​

Ammortamento Buoni del Tesoro del governo greco (prove fisiche) 17 milioni

Χρεωλύσια δανείων Τράπεζας της Ελλάδας 475,8 εκατ. ευρώ​

Ammortamento del prestito Banca di Grecia, 475,8 milioni

Χρεωλύσια λοιπόν δανείων εσωτερικού 419, 2 εκατ. ευρώ​

Così ammortamento del prestito interno 419, 2 milioni

Χρεωλύσια ειδικών και διακρατικών δανείων 333,9 εκατ. ευρώ​

Rate dei prestiti speciali e 333,9 milioni di interstatali

Χρεωλύσια δανείων μηχανισμού στήριξης 145,6 εκατ. ευρώ​

Ammortamento prestito per sostenere 145,6 milioni

Χρεωλύσια λοιπών δανείων εξωτερικού 1 δισ. ευρώ​

Altri ammortamento del prestito estero 1.000 milioni

Προμήθειες και έξοδα γενικά Τραπεζών 219 εκατ. ευρώ​

Le tasse e le banche in generale le spese di 219 milioni

Πληρωμή λόγω εγγυήσεων για ιδιώτες και επιχειρήσεις γενικά 40 εκατ. ευρώ​

garanzie di pagamento dovuto per gli individui e le imprese, in generale, 40 milioni

Πληρωμή λόγω εγγυήσεων για δημόσιες επιχειρήσεις και οργανισμούς γενικά 1,15 δισ. ευρώ​

Il pagamento di tali titoli per le imprese pubbliche e le organizzazioni in generale, 1,15 miliardi di euro

Λοιπές υποχρεώσεις του Δημοσίου από εγγυήσεις 1 εκατ. ευρώ​

Altri obblighi di garanzie governative 1.000.000

Τακτοποίηση ελλειμμάτων δημόσιων διαχειρίσεων 10 χιλ. ευρώ​

deficit di governance Disponi 10 mila

Δαπάνες για τακτοποίηση οφειλών παλαιών διαχειρίσεων​

I costi per la risoluzione delle vecchie gestioni debiti

και λοιπών υποχρεώσεων ρυθμιζόμενων από το Ελληνικό Δημόσιο 420 εκατ. ευρώ​

e altri obblighi regolati da € 420.000.000 del governo greco

ΣΥΝΟΛΟ 63,6 δισ. ευρώ​

TOTALE 63,6 miliardi


(To Vima.gr)

​

 

[tommy271]

Greek Spreads and Capital Increases Weigh on ASE



Athens Exchange began its trading activity with a clear falling trend, although today’s pressure appears less severe than yesterday’s session.

Banks are underperforming losing as much as 2.13% while Greek bond spreads eye new highs.

FTSE20 index moves in negative territory, at 640 points, while OTE is among the few heavyweights that post gains.

Piraeus and Marfin share capital increases will draw liquidity hurting the Greek Stock Exchange, says Kyprou Securities in a report. “Short term
weakness is possible but capital increases should enhance the ASE-listed banks’ balance sheets and therefore the ASE itself in the long-term”.

The Kyprou Sec. expects the Greek market to record index low in early 2011 and gradually rise after that, “considering current information and expectations of the IMF/EU support plan mentioning some GDP growth for Greece in 2011H2."

Pegasus Securities considers that “yesterday΄s sell-off acquired characteristics of a negative hyperbole, anticipating that it is very likely for the market to react today, at least during theearly start, with the remaining of the session being mainly determined by the appetite of sellers”.

Across the board, the General Index is at 1385.18 points, posting losses of 0.82% on a turnover of EUR21.8million. A total amount of 69 shares decline, 19 rise and 37 remain unchanged.

Banks are at 119.01, down 1.35%. Piraeus Bank and Alpha Bank decline by 2.86% and 1.87% respectively, while Bank of Cyprus and National Bank record losses of 1.65% and 1.15% respectively.

(capital.gr)

 

[tommy271]

FT: Proposta per la concessione di riscossione delle imposte ad imprese private in Grecia

Την προσωρινή ανάθεση της συλλογής φόρων στη χώρα μας σε ιδιωτικές εταιρείες προτείνει αρθρογράφος των Financial Τimes.​

L'assegnazione temporanea di riscossione delle imposte nel nostro paese per le aziende private suggerisce un editorialista del Financial Times.

Μία από τις πιο διεφθαρμένες λειτουργίες του ελληνικού κράτους είναι η συλλογή φόρων σύμφωνα με τον αρθρογράφο των Financial Τimes, Τζων Πλέντερ, ο οποίος προτείνει να ανατεθεί προσωρινά σε ιδιωτικές εταιρείες και τράπεζες.​

Una delle caratteristiche più corrotti dello stato Greco a riscuotere le tasse secondo il columnist del Financial Times, John Plenter, che ha suggerito temporaneamente assegnati ad aziende private e banche.

Ο Πλέντερ προχωρά προτείνοντας να υιοθετηθεί το σύστημα που χρησιμοποιήθηκε στην Ιταλία το 2006 (ανάθεση της συλλογής φόρων σε ιδιώτες ύστερα από διαγωνισμό, μέχρι να εξυγιανθεί το κεντρικό σύστημα).​

Il ricavato Plenter propone di adottare il sistema usato in Italia nel 2006 (premio della riscossione delle imposte a privati dopo la gara, in modo da ripristinare il sistema centrale).

Τα κέρδη για τις ιδιωτικές εταιρείες θα προκύπτουν από την αξιοποίηση του κεφαλαίου κατά την περίοδο μεταξύ της συλλογής φόρων και της παράδοσής τους στο κράτος.​

I profitti per le imprese private derivanti dall'uso del capitale durante il periodo di riscossione delle imposte e consegna nello stato.

Συνεχίζοντας, ο Πλέντερ προτείνει την απόλυση των εφοριακών του Δημοσίου με μεγάλες αποζημιώσεις, ενώ αναφέρει πως η κεντρική συλλογή φόρων είναι αποτελεσματική μόνο όταν το κράτος είναι και αυτό αποτελεσματικό- κάτι που, κατά τα λεγόμενά του, δεν φαίνεται να ισχύει στη χώρα μας.​

Proseguendo, Plenter proporre il licenziamento del fiscale del Dipartimento di Stato con indennità di grande, e dice che la riscossione delle imposte centrale è efficace solo quando la regola è che efficace, cosa che, nelle sue parole, non sembra essere vero nel nostro paese.


(Kathimerini.gr)

 

[tommy271]

Small parties take formative steps

New Democracy sheds more MPs to Democratic Alliance as ex-PASOK deputies prepare new group


There were further signs yesterday that the changing political landscape in Greece is beginning to favor new, small parties that are taking advantage of the difficulties which ruling PASOK and main opposition New Democracy are having in dealing with the economic crisis.

As PASOK and ND continue to be hampered by internal struggles over the way they should address the dire economic situation, the new parties formed over the last few months appear to be picking up momentum.

Yesterday, Dora Bakoyannis’s centrist Democratic Alliance scored another blow against her former party, New Democracy, as a third former conservative deputy decided to cross the parliamentary floor and join the fledgling group.

Iraklio MP Eleftherios Avgenakis said that he felt ND was going in the wrong direction. “My parliamentary seat in Iraklio does not belong to [ND leader] Antonis Samaras, it belongs to the people of Iraklio,” he declared, adding that the majority of his constituents had asked him in the last few weeks to change parties.

“His participation will strengthen our efforts to create a plan for the drastic reforms that the country needs,” said Bakoyannis.

Avgenakis had been ousted from ND last November when he publicly approved some of Bakoyannis’s positions. Another conservative deputy cast out by Samaras on the same day, Giorgos Kontoyiannis, is also expected to join Democratic Alliance in the next few days.

This would take the number its MPs up to five. However, the deputies will continue to be classified as independents unless the newly formed party can increase its lawmakers to 10, in which case Parliament’s rules allow the creation of a parliamentary group. This, in turn, leads to the party being given a parliamentary office.
Samaras is soon expected to announce a reshuffle of his shadow cabinet as ND attempts to make an impression on the electorate.

PASOK could soon be feeling a similar thorn in its side as several of its ousted MPs are set to begin the process of forming a new party. They will be led by Yiannis Dimaras, who challenged for the Attica governor’s post and got some 250,000 votes in the November local elections. It is likely that he will be joined by another ex-PASOK MP, Vassilis Economou, as well as the third Socialist deputy who was ousted for voting against the EU-IMF memorandum, Sofia Sakorafa.

(Kathimerini.gr)

***
Sommovimenti all'interno della politica greca.

 

[tommy271]

Efsm, chiuso libro ordini per bond 5 anni da 5 mld euro - IFR

mercoledì 5 gennaio 2011 10:30



LONDRA, 5 gennaio (Reuters) - E' già chiuso il libro ordini per il bond a cinque anni dello European Financial Stability Mechanism, il cui prezzo ufficiale è atteso in giornata.
Lo annunciano i lead manager precisando che le indicazioni definitive del prezzo collocano il rendimento a 12 punti base sul tasso midswap, il margine inferiore della forchetta di tasso inizialmente indicata tra 12 e 15 punti base.
L'emissione, i cui proventi sono destinati a finanziare parte del pacchetto di aiuti all'Irlanda, è affidata a Barclays, Bnp Paribas, Deutsche Bank e Hsbc.
Il rendimento del bond rispecchia le attese di un premio sull'attuale curva in euro dell'Unione europea, che vede un operazione con scadenza gennaio 2015 a 7 punti base sul midswap, un aprile 2016 appena sopra gli 11 punti base e un settembre 2017 a 13 punti base su mids

 

[tommy271]

Cost management key in crisis

Banks merge branches, renegotiate rental deals at home to trim expenses; enjoy more flexibility abroad

By Yiannis Papadoyiannis - Kathimerini


Lenders are merging branches, renegotiating rental contracts, limiting labor costs and reviewing all operating expenses from square one in a bid to lower spending.
Industry sources describe the right cost management as being a “key point for 2011.”

In the Greek market, banks are aggressively renegotiating the cost of rental space, changing offices and shutting down branches when rental expenses are deemed to be excessive.
Regarding labor expenses, lenders are seeking to move around staff members, depending on where there are greater operating needs.

While layoffs are not being examined at the moment, banks are however trimming expenses stemming from the payroll by not replacing employees that leave and by offering incentives for workers to leave of their own accord.
However, if economic conditions don’t start improving in the second half of this year, then certain banks re-examine the issue.

More drastic action is being taken in regard to general expenses, including promotional costs for products and spending on producing new products and services.
Concerning Greek banking operations beyond the country’s borders, there is greater flexibility in cutting expenses as markets abroad start to rebound.

Banks are cutting back on foreign branches and staff levels abroad where they consider there is fat to be trimmed. But the general rule being followed is that lenders want to hold on to capacities in markets outside of Greece.
In some markets which are experiencing a rebound, Greek banks are moving ahead with investments.
In the first nine months of the year, Greece’s largest lender, National, said that it is boosting spending on growth in Turkey, via its subsidiary Finansbank, while costs back at home are being reduced by 3 percent.

***
Si tagliano i "costi" ...

 

[tommy271]

Verso un nuovo record diffusione del decennale

Προς νέο υψηλό ρεκόρ οδεύει το spread του δεκαετούς ομολόγου αφού συνεχίζει να διευρύνεται στις συναλλαγές της Τετάρτης εν μέσω έντονων ανησυχιών για τις δανειακές ανάγκες των χωρών μελών της Ευρωζώνης.​

diffusione Verso un nuovo record e titolo dopo il vincolo di dieci anni continua ad ampliare gli scambi tra Mercoledì forti preoccupazioni circa i paesi membri l'indebitamento della zona euro.

Την αυλαία των δημοπρασιών ανοίγει σήμερα η Πορτογαλία, η οποία αποτελεί την πρώτη ευρωπαϊκή χώρα με υψηλό έλλειμμα, που καλείται να «τεστάρει» την εμπιστοσύνη των επενδυτών.​

Il sipario si apre oggi all'asta dal Portogallo, che è il primo paese europeo con un forte disavanzo, che è tenuta a "sono testati" la fiducia degli investitori.

Συγκεκριμένα, σήμερα προχωρά σε δημοπρασία εξάμηνων έντοκων τίτλων, και ο αναλυτής της Kleinwort Benson Private Bank σχολιάζει πως οι επενδυτές θα κοιτάξουν να δουν εάν οι αποδόσεις είναι υψηλότερες, «και ίσως είναι».​

Infatti, va attualmente in asta di sei mesi titoli del Tesoro, e analista Kleinwort Benson Private Bank ha commentato che gli investitori guardare per vedere se i rendimenti sono più elevati ", e forse lo è."

Ειδικότερα, η διαφορά της απόδοσης των ελληνικών δεκαετών ομολόγων έναντι του γερμανικού bund ανέρχεται στις 972 μ.β.​

In particolare, la differenza di rendimento dei titoli greci a dieci anni su Bund tedesco è a 972 bps

την τετάρτης, κατά 1,49 μ.β.​

Mercoledì alle 1,49 bps

υψηλότερα από το κλείσιμο της Τρίτης.​

superiore alla stretta Martedì.

Παράλληλα, μικτές διακυμάνσεις για τα spread της υπόλοιπης περιφέρειας με τα ιρλανδικά να διαμορφώνονται στις 613 μ.β.​

Allo stesso tempo, le variazioni congiunte di diffusione di altre regioni di essere formati gli irlandesi 613 bp

(+3,51 μ.β.),

τα πορτογαλικά στις 375 μ.β.
(3,51 bps), i portoghesi del 375 bp

(+1,13 μ.β.), τα ισπανικά στις 241 μ.β.​

(1,13 bps), lo spagnolo in 241 bp

(-3,23 μ.β.) και τα ιταλικά στις 173 μ.β.​

(-3,23 Bps) e 173 bp in italiano

(-0,30 μ.β.).​

(-0,30 Bps).

Επισημαίνεται ότι, το ελληνικό spread κατέγραψε την μεγαλύτερη τιμή κλεισίματος το Μάιο του 2010 όπου και ανήλθε στις 956 μ.β.​

Si prega di notare che la diffusione greco registrato il più alto prezzo di chiusura maggio 2010 dove ha raggiunto 956 punti base

Την ίδια στιγμή, τα πενταετή ελληνικά CDS διαμορφώνονται την Τετάρτη στις 1.014 μ.β.​

Allo stesso tempo, i cinque CDS greca formata Mercoledì in 1.014 bp.


(capital.gr)

 

[Grisù]

Qualche dato in più sul fronte privatizzazioni, devono comunque ridurre significativamente la spesa pubblica nel 2011 se vogliono provare a risollevare la situazione. Il mercato dei titoli mi pare vincolato ai bassi volumi, nel breve immagino si possa ancora scendere se le agenzie proseguissero con la riduzione del rating. I primi dati del 2011 e la rinegoziazione del debito EU/FMI potranno forse fornire una boccata d'ossigeno sui titoli di stato. Stiamo a vedere....

Finmin confident on fourth loan tranche disbursement, Eurobond
In an interview, Finmin Papakonstantinou pledged to push forward with further reforms and said that is confident that Greece will manage to get the fourth €15bn tranche of the EU/IMF loan. Finmin reiterated that expects the State to raise €7bn from privatisations till 2013, €1bn of which this year. The assets on sale include airports, utilities, real estate and a number of betting licences. Papakonstantinou repeated that the country is looking to tap the capital markets again in FY11, subject to the market conditions, while said that discussions with China on buying Greek bonds are progressing. On the possible extension of the repayment period, Finmin said that the government is looking to get an extension for the sum of the loan and not just for the part not being yet disbursed. Papakonstantinou said that EC is positive on this prospect, while he is confident that the EU countries will come to an agreement on the Eurobond issue.

 

[Grisù]

Greece’s Revenue In 2010 Rose By 5.4%
Despite repeated revisions of the financial goals of last year΄s budget, Greek government missed a revised target of revenue by about EUR290million, according to officials.
The shortfall is considered relatively small, as no significant effect will have on the deficit estimate for 2010, Ministry of Finance officials say.
Same sources revealed that revenue in December, after the tax refunds of EUR750million, amounted to EUR5.75billion, up by 10.6% over the corresponding months last year.
Throughout the year, the state budget revenue reached EUR51.1billion, recording an increase of 5.4% compared with 2009. The targeted increase in revenue was set at EUR51.39billion, or 6%. This means that there was a deviation of nearly EUR290 million.
It should be noted that the shortfall in revenue would be bigger by 100 million if the tax refunds had reached EUR5.1billion, according to ministry’s estimation.