Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1

[tommy271]

Grecia non ha bisogno di ristrutturazione debito - Regling

giovedì 20 gennaio 2011 08:23




BERLINO, 20 gennaio (Reuters) - La Grecia non ha bisogno di una ristrutturazione del debito e al momento non c'è necessità di espandere il fondo di salvataggio europeo.
Lo ha detto il numero uno dello European Financial Stability Facility (Efsf) Klaus Regling parlando alla radio tedesca Deutschlandfunk.
"L'opinione del Fondo monetario internazionale, della Commissione europea e della Banca centrale europea è che la Grecia non abbia bisogno di una ristrutturazione del debito, che i mercati sovrastimino quel rischio", ha dichiarato Regling in un'intervista.
"Ci aspettiamo che con l'implementazione di queste riforme la qualità del credito della Grecia migliori di nuovo", ha aggiunto.


***
In italiano ...

 

[tommy271]

Gov't: No debt restructuring




The government on Wednesday again categorically dismissed speculation over any restructuring of the country’s entire debt.

“There is no discussion over a debt restructuring,” Deputy Finance Minister Filippos Sahinidis told Reuters, and in response to an article by the German publication “Die Zeit”, according to which Berlin was examining a plan to restructure the Greek debt.

The report said the plan envisaged the re-purchase of bonds by Greece through funds offered by a European Support Fund. Reuters said a spokesman for Germany’s finance ministry also dismissed the magazine report.

(ana.gr)

 

[tommy271]

PM chairs cabinet on closed professions


Prime Minister George Papandreou termed as a "historic change" the reforms promoted by the government as regards the opening up of so-called closed professions.

Chairing a cabinet meeting on Wednesday afternoon, the prime minister gave the green light to his ministers that are directly involved in the issue to proceed to the final drafting of a special bill and its tabling in Parliament.

Premier Papandreou also referred to a bill concerning changes in the functioning of trade unions and the farmers' co-operative societies, which will be discussed during a new cabinet meeting on Thursday.

Papandreou also said his government "dares in going ahead with reforms the country needs" and reiterated that "this Greece, Greece with these caracteristics, has finished."

The prime minister referred to the country's opposition parties, expressing hope that they will respond positively to the reforms.

Papandreou also categorically dismissed scenarios over any restructuring of Greece's debt, requesting at the same time from his ministers to be careful when referring to such issues.

He also termed as "malicious" and "devious" a relevant German press report.

Referring to discussions currently held on an European Union level, the Greek premier said developments in the Union are caracterised by "fluidity" and fo this reason Greece must be vigilant.

"Greece's interest is identical to stability in Europe, "not fiscal stability but the broader stable political course as regards the deepening of the European undertaking," Papandreou added.

(ana.gr)

***
Ed intanto Papandreou va avanti con il suo programma ... invitando i Ministri a fare attenzione quando si parla di debito pubblico (caso Pangalos ...).

 

[tommy271]

Suddeutsche Zeitung: EU prepares for Greece to declare bankruptcy

20 January 2011 | 10:13 | FOCUS News Agency


Brussels. According to EU sources in the European capitals it is already running the preparation on Greece to declare bankruptcy, German newspaper Suddeutsche Zeitung announced.
Various options for action are been considering. One option under consideration is banks "voluntarily" to simplify part of the obligations of Athens, according to sources.
Meanwhile, the Ministry of Finance denied preparing an emergency plan for Greece.

***
Altra giornata? .

 

[tommy271]

Bond euro, Bund in calo prima di aste Francia, bene periferia

giovedì 20 gennaio 2011 09:13




LONDRA, 20 gennaio (Reuters) - Il derivato sul decennale
tedesco arretra in un mercato che conferma il sostegno ai titoli
della 'periferia' europea e vede i 'core' lievemente sotto
pressione per l'arrivo di nuova carta francese.

Il debito dei paesi più a rischio come Grecia, Portogallo e
Spagna, è reduce da un'ottima performance ieri, grazie alle
indiscrezioni, pur non confermate, sul fatto che la Germania
stia mettendo a punto un piano per consentire alla Grecia di
riacquistare i propri titoli utilizzando le risorse del fondo
europeo di salvataggio.

"In teoria questo dovrebbe continuare ad avere un impatto
positivo. Non sarà certo una ripresa lineare ma per ora il tono
è migliorato", commenta un trader.

Parlando alla radio tedesca questa mattina il responsabile
del fondo di salvataggio europeo, Klaus Regling, ha detto che la
Grecia non ha bisogno di ristrutturare il proprio debito e che
il fondo è abbastanza capiente per un eventuale salvataggio di
Portogallo e Spagna.

La Francia offre in asta oggi fino a 12 miliardi di euro di
titoli nominali e indicizzati. In un contesto di rinnovata
attenzione alle pressioni inflazionistiche Parigi porta sul
mercato un nuovo benchmark 'index-linked'.

"Dopo la recente accelerazione nell'inflazione a livello
globale, il mercato è robusto e l'emissione ha un prezzo
conveniente. Ci aspettiamo che l'asta vada bene", commentano gli
analisti di Societe Generale in una nota.

 

[tommy271]

Euro zone mulls partial write-off for debt strugglers-FTD


BERLIN | Thu Jan 20, 2011 3:26am EST



BERLIN Jan 20 (Reuters) - Euro zone nations are considering a plan to enable Greece and Ireland to write off some of their debt burden using the European Financial Stability Facility (EFSF), a German newspaper reported on Thursday.

Without revealing its sources, the Financial Times Deutschland said the finance ministers of the euro area had discussed the idea at a regular meeting in Brussels on Monday.

According to the plan, the EFSF could buy bonds from the states or provide them with favourable loans that could be used to repurchase debt, so as to reduce their liabilities, it said.

Germany's finance ministry on Wednesday denied reports that Berlin was considering a plan that would allow Greece to buy back its own debt using the EFSF, a crisis fund set up to protect the euro currency last year.

 

[tommy271]

In prima mattinata la Borsa di Atene conferma i guadagni di ieri segnando ancora un + 0,68 mentre invece il nostro spread si muove lungo la mediana di 845 pb. dopo aver allargato sino a 860 pb. forse sull'onda delle news del "default"...

 

[tommy271]

‘No growth until 2012’



Research group KEPE expects the Greek economy to shrink at an annual clip of 3.5 percent this year, predicting a deeper recession than that forecast by the Finance Ministry.

The Finance Ministry sees the 240-billion-euro economy contracting by 3 percent in 2011, with a return to growth slated for the second half of the year.

KEPE, the Center of Planning and Economic Research, said yesterday that the largest contraction in 2011 is seen in the first quarter of the year, with the economy shrinking by just over 5 percent on a quarterly basis.

“During the remaining quarters of 2011, real gross domestic product will continue to decrease but the rate will be progressively smaller,” it said in a statement.

KEPE also points to a longer-than-expected contraction period than the government, predicting a recession until 2012.


(Kathimerini.gr)

 

[tommy271]

Speculation grows on default

Sources in Berlin indicate preparation taking place for restructuring; deputy finance minister denies scenario


Speculation about whether Greece will default on its debt picked up in Germany yesterday, prompting Athens and Berlin to officially deny the possibility of debt restructuring.

Unnamed officials at Germany’s Finance Ministry told Reuters that they are working on contingency plans to handle the fallout in case Greece fails to get on top of its massive debt problem. One source close to the ministry said German civil servants were analyzing how a Greek restructuring might work, as well as what this would mean for German banks and the stability of the eurozone. No conclusions have yet been reached.

“They have started to consider the unthinkable,” said the source. “They are looking at a contingency plan preparing for Greek restructuring. It is not something they want, but something they recognize,” he said.

Earlier, German newspaper Die Zeit, citing government sources, reported that Berlin is considering a plan to allow Greece to buy back its own debt using eurozone crisis funds. Some investors saw that report as a possible new step forward in Europe’s efforts to quell the debt crisis, and the idea of a shift of Greece’s debt out of private hands to European Union governments buoyed markets, reducing the relative cost of borrowing for Italy, Spain and Portugal. But Greece and Germany denied preparing for any restructuring of Greek debt.

Greek Deputy Finance Minister Filippos Sachinidis said the only discussion being held on Greek debt is the time frame of the repayment of the 110-billion-euro loan from the EU and the International Monetary Fund. A German Finance Ministry spokesman said in a statement that “Germany is not preparing a restructuring of Greek debt.”

Publicly, Germany remains opposed to any restructuring or partial nonpayment of Greek debt, but some officials in Berlin are increasingly concerned that it may be inevitable.

Talk of a Greek default pushed the spread between the Greek 10-year bond and the German bund wider to 870 basis points yesterday before later narrowing to 844 bps.

Meanwhile, in an interview published in German newspaper Handelsblatt yesterday, Lars Feld, a designated economic adviser to the German government, said that Germany should set funds aside to prepare for a Greek default.


***
La giornata di ieri secondo il "Kathimerini".

 

[Gaudente]

Il Dal mercato secondario si potrebbe in ogni caso acquistare poco, in seguito agli acquisti della Bce il debito circolante è diventato irrisorio.

Probabilmente gli unici rimasti a scambiarsi 'sta roba sono G.ln e Frmaoro