Gaudente
Forumer storico
infatti nel vostro caso li avete acquistati per lucrare 100 punti base in piu' "senza alcun rischio perche' l'emittente e' un membro UE"
Ma quando la finirete di credere alle balle che vi propinano ?
Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
- Creatore Discussione Imark
- Data di Inizio
- Stato
Ma quando la finirete di credere alle balle che vi propinano ?
Gaudente
Forumer storico
in effetti chi si fosse coperto per intero con i CDS non potrebbe aderire allo scambio perche' in tal caso la controparte potrebbe obiettare che non c'e' piu' il sottostante ... potrebbe pero' sempre prima rivendere i CDS (e qui bisogna vedere fino a che punto questo mercato e' davvero liquido) e poi aderire allo scambio.
Gaudente
Forumer storico
Dico che gli chiedero' una royalty sui suoi scritti dal momento che ha spudoratamente copiato quanto sto scrivendo qui sopra da mesi
tommy271
Forumer storico
Ieri altra giornata tranquilla con maggiori spinte verso un restringimento degli spread. I titoli vengono prevalentemente venduti sulla lettera.
L'attesa è tutta verso la costruzione di scenari possibili intorno al debito greco.
In settimana è atteso l'arrivo della delegazione UE/BCE/FMI per l'analisi della situazione, in merito al rilascio della quarta tranche: una tra le più "pesanti".
Sul fronte macroeconomico tutto procede come da programma concordato.
Altra tensione arriva ora dall'Irlanda con il governo ormai dimissionario, senza aver ancora ratificato in tutti i suoi dettagli la richiesta di aiuti sul modello ellenico.
In Spagna sembra andare un pò meglio con le attenzioni rivolte da Zapatero per una soluzione al problema "cajas".
Il Portogallo ha riconfermato il suo Presidente dando qualche appiglio di stabilità al quadro politico.
Su Belgio e Italia gli occhi sono sempre puntati, ma un pò più sereni rispetto alla scorsa settimana.
Grecia 805 pb. (807)
Irlanda 573 pb. (567)
Portogallo 371 pb. (363)
Spagna 199 pb. (202)
Italia 152 pb. (151)
Belgio 106 pb. (105)
L'attesa è tutta verso la costruzione di scenari possibili intorno al debito greco.
In settimana è atteso l'arrivo della delegazione UE/BCE/FMI per l'analisi della situazione, in merito al rilascio della quarta tranche: una tra le più "pesanti".
Sul fronte macroeconomico tutto procede come da programma concordato.
Altra tensione arriva ora dall'Irlanda con il governo ormai dimissionario, senza aver ancora ratificato in tutti i suoi dettagli la richiesta di aiuti sul modello ellenico.
In Spagna sembra andare un pò meglio con le attenzioni rivolte da Zapatero per una soluzione al problema "cajas".
Il Portogallo ha riconfermato il suo Presidente dando qualche appiglio di stabilità al quadro politico.
Su Belgio e Italia gli occhi sono sempre puntati, ma un pò più sereni rispetto alla scorsa settimana.
Grecia 805 pb. (807)
Irlanda 573 pb. (567)
Portogallo 371 pb. (363)
Spagna 199 pb. (202)
Italia 152 pb. (151)
Belgio 106 pb. (105)
tommy271
Forumer storico
Dico che gli chiedero' una royalty sui suoi scritti dal momento che ha spudoratamente copiato quanto sto scrivendo qui sopra da mesi
Veramente tu dici che farà default ...
tommy271
Forumer storico
Greece Debt Paydown Depends on Real Estate Sales After Monastery Scandals
By Maria Petrakis and Sharon Smyth - Jan 25, 2011 1:01 AM GMT+0100 Tue Jan 25 00:01:00 GMT 2011
When the Greek government swapped land with a Byzantine monastery on a mountainous northern peninsula, the furor in 2008 over the price contributed to the defeat of Prime Minister Kostas Karamanlis a year later.
Finance Minister George Papaconstantinou aims to do a better job raising funds from state-owned properties with an estimated value of as much as 300 billion euros ($408 billion), equivalent to the national debt. First, he’ll need to figure out what assets are in government hands, before competing with other debt-laden European countries for investors.
“The supply and demand dynamic for Greece isn’t good right now,” said Frances Hudson, who helps oversee about $242 billion as an equity strategist at Standard Life Investments in Edinburgh. Hudson would rather buy commercial real estate in Paris or Stockholm that would offer more predictable returns.
The European Union and International Monetary Fund, as well as German politicians who oppose bailing out Greece and local lawmakers, have urged the country to sell or lease casinos, golf courses, airports and even islands to pay down debt and avoid a default. The EU, which led a 110 billion-euro rescue of the country in May, said in a December report that “sizable” proceeds could be generated this way.
Potential income from property enabled Papaconstantinou to increase the forecast for state-asset proceeds in November to 7 billion euros by 2013 from 3 billion euros. The assets earmarked for sale range from a golf course on the island of Rhodes to the former Athens airport of Hellenikon.
Mount Athos
The transaction with the Vatopedi monastery, a 10th-century building on Mount Athos, did little to improve Greece’s finances. In 2008, the property scandal, which involved the previous government, knocked the collapse of Lehman Brothers Holdings Inc. off the front pages of local newspapers.
The current government, which came to power in October 2009, is suing the monastery, part of the oldest surviving community of its kind, amid reports from Greek media including NET television and the Ta Nea newspaper that the land-for- property deal cost Greek taxpayers 100 million euros. That’s because the state agreed in 2007 to swap 45 acres (18 hectares) of land for property that was allegedly worth less.
Misgivings about the deal forced two ministers to resign and led to a parliamentary investigation. Three separate appraisals ordered by prosecutors have failed to provide a value for the land involved.
Unknown Value
The total value of Greece’s real estate holdings is estimated at 200 billion euros to 300 billion euros by analysts at banks, including Alpha SA and EFG Eurobank SA.
“I wish it was 300 billion euros, or 280, 250, or 200 billion euros,” Papaconstantinou, 49, told parliament on Jan. 14. “The fact is we just don’t know.”
The government is due to publish an inventory by June, a task made harder by the lack of a centralized registry of deeds. The state has several registers of assets that can’t be cross- checked because they aren’t compatible.
About 40 percent of registered state properties are disputed and an additional 25 percent don’t have enough data on their legal status and are “questionable,” Papaconstantinou told lawmakers.
“The Greek government really needs to employ a professional private-sector adviser to help them with the inventory and ensure the valuations and sales are carried out with the greatest transparency,” said Grant Fitzner, the London-based head of research for Europe, the Middle East and Africa at Jones Lang LaSalle Inc., the world’s second-largest commercial property broker.
Wider Deficit
Greece’s debt and deficit figures were revised higher after Prime Minister George Papandreou came to power and revealed the budget shortfall would be four times the EU limit, sparking the European debt crisis.
Wage and pension cuts and tax increases, in return for the emergency funds to prevent a default, will mean the economy contracts 3 percent this year after shrinking as much as 4.2 percent last year. Debt is forecast by the EU to increase to 156 percent of gross domestic product in 2012.
Banks, hurt by their holdings of state bonds, have scaled back lending, while new property taxes have crimped real estate prices. Definitive real estate data is scarce in Greece.
“It’s impossible to say whether commercial property prices have dropped or held steady because so few transactions have taken place,” said Ioannis Kaligiannakis, a property appraiser at Colliers International in Athens. “Some tenants have been able to agree rent reductions of as much as 20 percent.”
Court Battles
Competing claims over land have resulted in lengthy court battles, one factor that’s deterred foreign investment in Greek real estate along with cumbersome approval procedures. Jones Lang LaSalle ranked Greece 29th on its Global Real Estate Transparency Index for 2010, below Spain, Italy and Portugal.
Foreign direct investment to southern European countries using the euro is mainly directed into real estate, according to Nikos Christodoulakis, an economist and former economy minister, who cited figures from the Paris-based Organisation for Economic Cooperation and Development.
Greece will face competition from debt-burdened governments across Europe, particularly in the south, to find investors for its real estate after the global financial crisis and recession led to higher public deficits and debt.
Falling property values and tougher borrowing conditions cut proceeds from state-owned property sales in the 27-member EU to 3 billion euros in 2008 and 2009, from 13 billion euros in the two years though 2007, according to a July report by London- based CB Richard Ellis Global Research.
‘Sacrifices’
Spain hasn’t announced any real estate sales or leases to help reduce its budget deficit, the third largest in the EU. Madrid alone has 147 state buildings that may fetch as much as 8.4 billion euros, according to Santiago Aguirre, president of Aguirre Newman, a broker in the Spanish capital.
EU rules allow countries using the euro to deploy the proceeds from the sales of state assets, including real estate, to redeem debt.
In November, Italy, Europe’s most-indebted nation after Greece, failed to attract bidders for three military barracks. Italy plans to transfer more than 11,000 state-owned properties to its regional governments who can then lease or sell them onto third parties to reduce municipal debt.
“Before it was impossible for Greece to sell state land or property as the public perceived it as evil and politicians didn’t have the courage to do it,” said Yannis Perrotis, managing director of CB Richard Ellis in Athens. “Now things are very different. People accept there have to be sacrifices.”
(Bloomberg)
***
Il ministro delle Finanze George Papaconstantinou si propone di migliorare la raccolta di fondi da immobili di proprietà dello Stato per un valore stimato fino a 300 miliardi di euro (408 miliardi dollari), equivalenti all'intero debito pubblico. In primo luogo, avrà bisogno di capire quali sono le attività nelle mani del governo ...
By Maria Petrakis and Sharon Smyth - Jan 25, 2011 1:01 AM GMT+0100 Tue Jan 25 00:01:00 GMT 2011
When the Greek government swapped land with a Byzantine monastery on a mountainous northern peninsula, the furor in 2008 over the price contributed to the defeat of Prime Minister Kostas Karamanlis a year later.
Finance Minister George Papaconstantinou aims to do a better job raising funds from state-owned properties with an estimated value of as much as 300 billion euros ($408 billion), equivalent to the national debt. First, he’ll need to figure out what assets are in government hands, before competing with other debt-laden European countries for investors.
“The supply and demand dynamic for Greece isn’t good right now,” said Frances Hudson, who helps oversee about $242 billion as an equity strategist at Standard Life Investments in Edinburgh. Hudson would rather buy commercial real estate in Paris or Stockholm that would offer more predictable returns.
The European Union and International Monetary Fund, as well as German politicians who oppose bailing out Greece and local lawmakers, have urged the country to sell or lease casinos, golf courses, airports and even islands to pay down debt and avoid a default. The EU, which led a 110 billion-euro rescue of the country in May, said in a December report that “sizable” proceeds could be generated this way.
Potential income from property enabled Papaconstantinou to increase the forecast for state-asset proceeds in November to 7 billion euros by 2013 from 3 billion euros. The assets earmarked for sale range from a golf course on the island of Rhodes to the former Athens airport of Hellenikon.
Mount Athos
The transaction with the Vatopedi monastery, a 10th-century building on Mount Athos, did little to improve Greece’s finances. In 2008, the property scandal, which involved the previous government, knocked the collapse of Lehman Brothers Holdings Inc. off the front pages of local newspapers.
The current government, which came to power in October 2009, is suing the monastery, part of the oldest surviving community of its kind, amid reports from Greek media including NET television and the Ta Nea newspaper that the land-for- property deal cost Greek taxpayers 100 million euros. That’s because the state agreed in 2007 to swap 45 acres (18 hectares) of land for property that was allegedly worth less.
Misgivings about the deal forced two ministers to resign and led to a parliamentary investigation. Three separate appraisals ordered by prosecutors have failed to provide a value for the land involved.
Unknown Value
The total value of Greece’s real estate holdings is estimated at 200 billion euros to 300 billion euros by analysts at banks, including Alpha SA and EFG Eurobank SA.
“I wish it was 300 billion euros, or 280, 250, or 200 billion euros,” Papaconstantinou, 49, told parliament on Jan. 14. “The fact is we just don’t know.”
The government is due to publish an inventory by June, a task made harder by the lack of a centralized registry of deeds. The state has several registers of assets that can’t be cross- checked because they aren’t compatible.
About 40 percent of registered state properties are disputed and an additional 25 percent don’t have enough data on their legal status and are “questionable,” Papaconstantinou told lawmakers.
“The Greek government really needs to employ a professional private-sector adviser to help them with the inventory and ensure the valuations and sales are carried out with the greatest transparency,” said Grant Fitzner, the London-based head of research for Europe, the Middle East and Africa at Jones Lang LaSalle Inc., the world’s second-largest commercial property broker.
Wider Deficit
Greece’s debt and deficit figures were revised higher after Prime Minister George Papandreou came to power and revealed the budget shortfall would be four times the EU limit, sparking the European debt crisis.
Wage and pension cuts and tax increases, in return for the emergency funds to prevent a default, will mean the economy contracts 3 percent this year after shrinking as much as 4.2 percent last year. Debt is forecast by the EU to increase to 156 percent of gross domestic product in 2012.
Banks, hurt by their holdings of state bonds, have scaled back lending, while new property taxes have crimped real estate prices. Definitive real estate data is scarce in Greece.
“It’s impossible to say whether commercial property prices have dropped or held steady because so few transactions have taken place,” said Ioannis Kaligiannakis, a property appraiser at Colliers International in Athens. “Some tenants have been able to agree rent reductions of as much as 20 percent.”
Court Battles
Competing claims over land have resulted in lengthy court battles, one factor that’s deterred foreign investment in Greek real estate along with cumbersome approval procedures. Jones Lang LaSalle ranked Greece 29th on its Global Real Estate Transparency Index for 2010, below Spain, Italy and Portugal.
Foreign direct investment to southern European countries using the euro is mainly directed into real estate, according to Nikos Christodoulakis, an economist and former economy minister, who cited figures from the Paris-based Organisation for Economic Cooperation and Development.
Greece will face competition from debt-burdened governments across Europe, particularly in the south, to find investors for its real estate after the global financial crisis and recession led to higher public deficits and debt.
Falling property values and tougher borrowing conditions cut proceeds from state-owned property sales in the 27-member EU to 3 billion euros in 2008 and 2009, from 13 billion euros in the two years though 2007, according to a July report by London- based CB Richard Ellis Global Research.
‘Sacrifices’
Spain hasn’t announced any real estate sales or leases to help reduce its budget deficit, the third largest in the EU. Madrid alone has 147 state buildings that may fetch as much as 8.4 billion euros, according to Santiago Aguirre, president of Aguirre Newman, a broker in the Spanish capital.
EU rules allow countries using the euro to deploy the proceeds from the sales of state assets, including real estate, to redeem debt.
In November, Italy, Europe’s most-indebted nation after Greece, failed to attract bidders for three military barracks. Italy plans to transfer more than 11,000 state-owned properties to its regional governments who can then lease or sell them onto third parties to reduce municipal debt.
“Before it was impossible for Greece to sell state land or property as the public perceived it as evil and politicians didn’t have the courage to do it,” said Yannis Perrotis, managing director of CB Richard Ellis in Athens. “Now things are very different. People accept there have to be sacrifices.”
(Bloomberg)
***
Il ministro delle Finanze George Papaconstantinou si propone di migliorare la raccolta di fondi da immobili di proprietà dello Stato per un valore stimato fino a 300 miliardi di euro (408 miliardi dollari), equivalenti all'intero debito pubblico. In primo luogo, avrà bisogno di capire quali sono le attività nelle mani del governo ...
tommy271
Forumer storico
Greece faces new cycle of protests ahead of EU-IMF auditors' visit
09:23, January 25, 2011
Greece is faced with a new cycle of protests against austerity measures as European Union and International Monetary Fund (IMF) auditors are expected to arrive in Athens on January 27.
The umbrella union of private sector employees, GSEE, announced on Monday a 24-hour strike for February 23, denouncing increasing jobless rates, tax hikes, planned privatization of state companies and other structural reforms.
Last week, the umbrella union of Greek civil servants, ADEDY, called a 24-hour strike for February 10.
Employees in public mass transport services continued their work stoppages this week over a restructure plan of the sector and fare increases which will go into effect next week, while pharmacists have called a new 72-hour strike starting from January 26 over the liberalization of professions.
In the mean time, over the past few hours, farmers across Greece have started gathering in national highways to protest the decrease of their purchasing power.
Foreign experts will hold one more regular round of deliberations with Greek officials over the progress of painful efforts to tackle an acute debt crisis which threatened Greece with default last year.
Based on their report, the fourth 15 billion euros (20.3 billion U.S. dollars) tranche of EU-IMF aid will be released to Athens in March.
The 110 billion euros (149.2 billion U.S. dollars) fund in total, secured last May in exchange for drastic fiscal consolidation and reforms, is vital for the eurozone member to meet its imminent financial needs, until a full return to the international markets for borrowing later this year.
As Greek officials keep rejecting scenarios of an imminent restructuring of the Greek debt, local media noted that this time talks with the EU-IMF delegation will be more difficult.
After a good start in slashing a budget deficit which stood at 15.4 percent of GDP in late 2009 by six percentage points by the end of 2010 through cutbacks on salaries, pensions and tax hikes, Greece enters the second phase of the three-year plan to overcome the crisis, which focuses on structural reforms.
The foreign auditors are expected to add more pressure for prompt results on the liberalization of closed professions and markets, the privatization of state-run loss-making companies and the reform of the debt-ridden health sector.
Source: Xinhua
09:23, January 25, 2011
Greece is faced with a new cycle of protests against austerity measures as European Union and International Monetary Fund (IMF) auditors are expected to arrive in Athens on January 27.
The umbrella union of private sector employees, GSEE, announced on Monday a 24-hour strike for February 23, denouncing increasing jobless rates, tax hikes, planned privatization of state companies and other structural reforms.
Last week, the umbrella union of Greek civil servants, ADEDY, called a 24-hour strike for February 10.
Employees in public mass transport services continued their work stoppages this week over a restructure plan of the sector and fare increases which will go into effect next week, while pharmacists have called a new 72-hour strike starting from January 26 over the liberalization of professions.
In the mean time, over the past few hours, farmers across Greece have started gathering in national highways to protest the decrease of their purchasing power.
Foreign experts will hold one more regular round of deliberations with Greek officials over the progress of painful efforts to tackle an acute debt crisis which threatened Greece with default last year.
Based on their report, the fourth 15 billion euros (20.3 billion U.S. dollars) tranche of EU-IMF aid will be released to Athens in March.
The 110 billion euros (149.2 billion U.S. dollars) fund in total, secured last May in exchange for drastic fiscal consolidation and reforms, is vital for the eurozone member to meet its imminent financial needs, until a full return to the international markets for borrowing later this year.
As Greek officials keep rejecting scenarios of an imminent restructuring of the Greek debt, local media noted that this time talks with the EU-IMF delegation will be more difficult.
After a good start in slashing a budget deficit which stood at 15.4 percent of GDP in late 2009 by six percentage points by the end of 2010 through cutbacks on salaries, pensions and tax hikes, Greece enters the second phase of the three-year plan to overcome the crisis, which focuses on structural reforms.
The foreign auditors are expected to add more pressure for prompt results on the liberalization of closed professions and markets, the privatization of state-run loss-making companies and the reform of the debt-ridden health sector.
Source: Xinhua
tommy271
Forumer storico
France says plan to tweak Greek aid plan Irish-style
PARIS, Jan 25 (Reuters) - France's economy minister said on Tuesday that Greece's financial aid package could be tweaked to similar timing terms as those accorded in the case of Ireland.
"What we are envisaging is an extension of the maturity of the Greek package just to be on the same schedule as the Irish package -- so we are in a way amending the terms," Christine Lagarde said, referring to two countries being rescued by the European Union and International Monetary Fund.
PARIS, Jan 25 (Reuters) - France's economy minister said on Tuesday that Greece's financial aid package could be tweaked to similar timing terms as those accorded in the case of Ireland.
"What we are envisaging is an extension of the maturity of the Greek package just to be on the same schedule as the Irish package -- so we are in a way amending the terms," Christine Lagarde said, referring to two countries being rescued by the European Union and International Monetary Fund.
tommy271
Forumer storico
Greek bond market closing report
(ANA-MPA) -- The yield spread between the 10-year Greek and German benchmark bonds shrank to 797 basis points in the Greek electronic secondary bond market on Monday, with the Greek bond yielding 11.12 pct and the German Bund 3.15 pct. Turnover in the market was a low 29 million euros, of which 13 million were buy orders and the remaining 16 million euros were sell orders.
The 30-year benchmark bond was the most heavily traded security with a turnover of 12 million euros.
In interbank markets, interest rates were largely unchanged. The 12-month rate was 1.55 pct, the six-month rate 1.25 pct, the three-month rate 1.01 pct and the one-month rate 0.78 pct.
(ana.gr)
***
Sempre utile un'occhiata sugli scambi dei nostri GGB ad Atene.
(ANA-MPA) -- The yield spread between the 10-year Greek and German benchmark bonds shrank to 797 basis points in the Greek electronic secondary bond market on Monday, with the Greek bond yielding 11.12 pct and the German Bund 3.15 pct. Turnover in the market was a low 29 million euros, of which 13 million were buy orders and the remaining 16 million euros were sell orders.
The 30-year benchmark bond was the most heavily traded security with a turnover of 12 million euros.
In interbank markets, interest rates were largely unchanged. The 12-month rate was 1.55 pct, the six-month rate 1.25 pct, the three-month rate 1.01 pct and the one-month rate 0.78 pct.
(ana.gr)
***
Sempre utile un'occhiata sugli scambi dei nostri GGB ad Atene.
tommy271
Forumer storico
PM on Greek foreign policy issues
Prime Minister George Papandreou underlined on Monday that Greece already has enough problems to deal with, "and there is no need to fabricate new, non-existent ones."
Addressing Parliament during an off-the-agenda debate requested by the main opposition New Democracy (ND) party, Papandreou added that the country's foreign policy "should unite all Greeks."
"The (economic) crisis obliges us to think in a very different manner. It is not time for feigned opposition, to create internal enemies with mythical scenarios alleging conspiracies. What we need is to present ourselves firmly united, in order to build a new Greece, one inspired by a new patriotism," he said, adding:
"And the Greek people, united and showing an unprecedented maturity and determination are waging a day-to-day battle ... Citizens have understood what went wrong and they know that they have a government that is doing its duty, namely, everything in its power," the prime minister stressed.
Additionally, Papandreou underlined that his government, through its efforts to ensure that the country regain its reliability in the fiscal sector, "has managed to keep national issues out of the sphere of Greece's depreciation. This climate should not be undermined by non-existent spectres and chimeras ... Patriotism means to prevent your country from reaching the point where it stands today," he said.
Papandreou expressed his displeasure over what he called "pre-emptive criticism" regarding his recent visit to Turkey, reiterating that he has no problem addressing any kind of audience and in any circumstances since, as he said, "if you speak the truth you fear nothing." He was referring to his address to the Turkish diplomatic corps in the NE Turkish city of Erzurum earlier this month.
"We told Turkey that we are for peace, but war threats or violations of our national sovereignty have no place in the European Union. It is a useless practice, which secures no advantage for Turkey. The status quo in the Aegean does not change and our pilots stand, as always, ready," the prime minister noted.
"Turkey's future is in Europe but the road is not easy. In a few months we gave a new impetus to Greek-Turkish relations. We have signed 22 agreements. We will continue on the same path," he noted.
"The government's policy is to delimitate the maritime zones with all neighbouring countries and, of course, there remains the complex issue of the continental shelf, which we must handle with determination," Papandreou said.
Regarding the Cyprus issue, the premier said the idea by Turkey and by the Turkish Cypriot leadership for a loose confederation "is not viable, but divisive and not functional." "We support the efforts made by (Cyprus) President (Demetris) Christofias. The other side is trying to lead the process to a deadlock in order to provoke a solution imposed from the outside. But the international community and the EU will not legalise the occupation of Cyprus."
Regarding recent riots in Tirana, Papandreou invited all sides to show self-restraint.
(ana.gr)
Prime Minister George Papandreou underlined on Monday that Greece already has enough problems to deal with, "and there is no need to fabricate new, non-existent ones."
Addressing Parliament during an off-the-agenda debate requested by the main opposition New Democracy (ND) party, Papandreou added that the country's foreign policy "should unite all Greeks."
"The (economic) crisis obliges us to think in a very different manner. It is not time for feigned opposition, to create internal enemies with mythical scenarios alleging conspiracies. What we need is to present ourselves firmly united, in order to build a new Greece, one inspired by a new patriotism," he said, adding:
"And the Greek people, united and showing an unprecedented maturity and determination are waging a day-to-day battle ... Citizens have understood what went wrong and they know that they have a government that is doing its duty, namely, everything in its power," the prime minister stressed.
Additionally, Papandreou underlined that his government, through its efforts to ensure that the country regain its reliability in the fiscal sector, "has managed to keep national issues out of the sphere of Greece's depreciation. This climate should not be undermined by non-existent spectres and chimeras ... Patriotism means to prevent your country from reaching the point where it stands today," he said.
Papandreou expressed his displeasure over what he called "pre-emptive criticism" regarding his recent visit to Turkey, reiterating that he has no problem addressing any kind of audience and in any circumstances since, as he said, "if you speak the truth you fear nothing." He was referring to his address to the Turkish diplomatic corps in the NE Turkish city of Erzurum earlier this month.
"We told Turkey that we are for peace, but war threats or violations of our national sovereignty have no place in the European Union. It is a useless practice, which secures no advantage for Turkey. The status quo in the Aegean does not change and our pilots stand, as always, ready," the prime minister noted.
"Turkey's future is in Europe but the road is not easy. In a few months we gave a new impetus to Greek-Turkish relations. We have signed 22 agreements. We will continue on the same path," he noted.
"The government's policy is to delimitate the maritime zones with all neighbouring countries and, of course, there remains the complex issue of the continental shelf, which we must handle with determination," Papandreou said.
Regarding the Cyprus issue, the premier said the idea by Turkey and by the Turkish Cypriot leadership for a loose confederation "is not viable, but divisive and not functional." "We support the efforts made by (Cyprus) President (Demetris) Christofias. The other side is trying to lead the process to a deadlock in order to provoke a solution imposed from the outside. But the international community and the EU will not legalise the occupation of Cyprus."
Regarding recent riots in Tirana, Papandreou invited all sides to show self-restraint.
(ana.gr)
- Stato
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