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

[tommy271]

Il pieno sostegno e la fiducia in G. Papandreou, sia a livello europeo che sul piano interno per far uscire il paese dalla crisi, è stata espressa dai deputati del PASOK in occasione della riunione del gruppo parlamentare del Movimento.

Πλήρη στήριξη στον Παπανδρέου από την Κ.Ο. του ΠΑΣΟΚ


http://www.kathimerini.gr/4dcgi/_w_articles_kathremote_1_26/01/2011_375269

 

[tommy271]

Borsa Atene: Ase chiude a +2,2%, Opap a +8,3%


MILANO (MF-DJ)--L'indice Ase di Atene chiude la seduta a +2,2% a 1567,83 punti.
"Con la nuova politica fiscale l'aliquota d'imposta di Opap calera' al 30% dalle attuali stime del 50%, incrementando l'Eps, i buyer hanno colto l'occasione", afferma Kostas Zouzoulas, head of analysis di Axia Venture Group.
Opa chiude in rialzo dell'8,3%, Coca Cola Hellenic cresce del 4%, Hellenic Telecoms sale a +2,9% e Ppc a +1,4%.
In territorio negativo Eurobank a -2,3%, Alpha a -1,6% e National a -1,4% a causa delle prese di profitto. In luce Piraeus a +5% in scia alle prospettive positive sull'aumento di capitale.

 

[frmaoro]

ZONA EURO, NON ESCLUSO CHE EFSF ACQUISTI BOND - TRICHET A BBG TV

Reuters - 26/01/2011 17:40:33
dai che ci siamoooooooooooooooo

 

[mago gambamerlo]

vaaaaiiiiii forza Triko & Tremo

ZONA EURO, NON ESCLUSO CHE EFSF ACQUISTI BOND - TRICHET A BBG TV

Reuters - 26/01/2011 17:40:33
dai che ci siamoooooooooooooooo

 

[tommy271]

ECB Noyer: EFSF Should Buy Govt Bonds, Supply Credit Advances

By Market News International || January 26, 2011 at 16:15 GMT


–Sees Pick-Up In Eurozone Inflation As Temporary


PARIS (MNI) – Eurozone governments should consider expanding the
mandate of the European Financial Stability Facility (EFSF) to include
purchasing sovereign bonds and advancing credit lines to countries under
pressure from financial markets, European Central Bank Governing Council
member Christian Noyer said in a newspaper interview published
Wednesday.

The governor of the Bank of France also predicted that the recent
pick-up in inflation would prove temporary, suggesting that the ECB is
in no hurry to hike interest rates.

Echoing appeals by ECB President Jean-Claude Trichet for a
quantitative and qualitative expansion of the E440 billion EFSF, Noyer
told the Wall Street Journal, “it is appropriate to think about
[enlarging the EFSF] even if there is no immediate need.”

Giving the EFSF the power to buy bonds in financial markets “would
probably be an interesting feature in some cases, if only to facilitate
access to the market” for high-debt governments, he said.

“Another possibility would be that of precautionary programs [such
as credit lines], like what the IMF is doing,” he said.
Noyer urged governments to ensure that the EFSF be able to use its
full lending capacity. Due to strict collateral rules and other
restrictions, little more than half of the fund can actually be lent.

Responding to concerns that expanded use of the fund might reduce
pressure for fiscal discipline, Noyer said governments “can probably
find answers to that.”

The acceleration in Eurozone inflation to a two-year high of 2.2%
in December has been due mainly to costlier energy and food, Noyer
observed. “Core inflation has remained relatively subdued,” he said. “By
nature, [the rise in overall inflation] should be temporary.”

Suggesting that the tough anti-inflation rhetoric Trichet adopted
at the ECB’s press conference two weeks ago might suffice to keep wages
and prices in check, Noyer said, “I am quite confident that we will be
able to keep inflation at bay,” in part by “sending the message that we
will never tolerate that inflation could become entrenched.”

“I am not signaling that we are going to raise interest rates,” he
added.

 

[tommy271]

Oggi gli spread si sono mantenuti nella fascia alta di oscillazione tra 830/840 pb., nulla di particolare da segnalare.
Vediamo se oggi, alla solita ora, restringono.

Ora sono scesi un pò, vediamo tra un quarto d'ora ...

 

[tommy271]

German EU liberal: Greek restructuring must happen-INTERVIEW


* EU FDP lawmaker Klinz says revamp needed within 12 months
* Free Democrats in Germany 'wouldn't oppose restructuring'
* Germany's Schaeuble- Athens was opposed to such a move
(Adds Schaeuble's comments to parliament)


By John O'Donnell


BRUSSELS, Jan 26 (Reuters) - Greece should restructure its debts within a year, a prominent member of the European Parliament from Germany's junior governing partner told Reuters, saying his party would not oppose such a move.

Wolf Klinz is among the first to clearly outline the position of Germany's liberal Free Democrats (FDP) on the controversial issue of restructuring. Their coalition partners in Berlin, the centre-right Christian Democrats, have played down any debt restructuring and Greece opposes it.

"Greece will not make it without restructuring," said FDP member Klinz, who chairs the European Parliament's committee examining the response to the financial crisis.

"It must be done quickly -- over the next 12 months," he told Reuters in an interview late on Tuesday.
"With a restructuring, it is important to move fast and take the initiative, rather than letting the markets get in control."

The FDP in Berlin was not opposed to such a move, he said.
As Europe's strongest economy, Germany has a major influence in deciding how to tackle the financial crisis. It will also pay out the most if highly indebted governments need bailouts.

A restructuring of Greek debt, a move viewed by some as risky as it might knock confidence in the euro zone, would see bondholders suffer losses in order to make Athens' debt pile -- approaching 150 percent of gross domestic product -- more manageable.

It could also put the FDP at odds with Chancellor Angela Merkel, who has said such a move is not being considered now.
On Wednesday, finance minister Wolfgang Schaeuble told parliament he had discussed a possible restructuring of debt with the Greek government last year but that they were opposed to this. Athens was given a longer to repay EU loans instead.

"The most likely step would be to change the interest rate on bonds, change their maturity and give a small haircut to bond-holders," said Klinz.

"I believe we will only see small haircuts for bond-holders -- perhaps 20 percent, one that would not require big writedowns at banks and insurers."

CONVINCING VOTERS

As their popularity among voters slides, Germany's liberals have become more vocal in their opposition to extending a 440 billion euro stability fund that is designed to help bail out highly indebted euro zone countries.

The FDP, which fought national elections with a promise of tax cuts that never materialised, is opposed to a bigger fund because of the likely burden for German taxpayers.

Earlier this week, embattled party leader Guido Westerwelle said he remained unconvinced about having a larger fund after a visit from Olli Rehn, the EU's top economic official, who argued for an increase in the facility.

A debt restructuring, where the costs would fall on investors such as banks, insurers and pension funds, could prove easier to sell to voters.

Germany will find it hard to take a final position, its task complicated by divisions within the Berlin coalition government but also among Germany's liberals.

On Wednesday, the liberals' German parliamentary chief said there had been differences between FDP lawmakers in Berlin and Brussels on the euro zone crisis.

German banks have the second-highest exposure to Greek debt -- almost 37 billion euros -- and the highest in the euro zone to Ireland of more than 138 billion euros, but many banks have shifted the loans onto their bank book, where writedowns would not be immediate.

Many investors believe Greece's debt, which is set to peak at 157 percent of GDP in 2013, is too high for the country to repay. Markets see the risk of default at almost one in three.

 

[tommy271]

Ora sono scesi un pò, vediamo tra un quarto d'ora ...

Oggi non è successo niente ... .
Comunque lo spread è sceso sotto i massimi della giornata.

 

[tommy271]

PUNTO 1 - Zona euro, non escluso acquisto bond da parte di Efsf

mercoledì 26 gennaio 2011 18:50


(aggiunge altre dichiarazioni Trichet)


FRANCOFORTE/DAVOS, 26 gennaio (Reuters) - Non è da escludere che il Fondo di stabilità dei paesi euro Efsf sottoscriva titoli di Stato, ipotesi che potrebbe rivelarsi utile in alcune circostanze.
Lo dice il presidente della Banca centrale europea Jean-Claude Trichet in un'intervista a 'Bloomberg Tv'.

"Non voglio dire ai governi come comportarsi... ci sono varie possibilità", risponde Trichet a chi gli chiede se l'Efsf dovrebbe acquistare bond. "Certamente non escluderei quella, che considererei utile in determinate corcostanze".

Il numero uno Bce esordisce definendo "appropriati" gli attuali tassi di interesse e "saldamente ancorate" le aspettative di inflazione.

L'istituto centrale di Francoforte, ribadisce il presidente in perfetta armonia con la posizione emersa dall'ultimo consiglio sui tassi, non si impegna mai 'a priori' sulle prossime mosse di politica monetaria

Parlando poi in un'intervista alla televisione Reuters Insider al World Economic Forum di Davos, Trichet definisce "lavori in corso" la soluzione alla crisi del debito della zona euro.

"Chiediamo a tutti i partner di fare il loro lavoro", aggiunge. "Tutti devono darsi da fare per dimostrare a investitori, risparmiatori, famiglie e imprese che stanno facendo il loro lavoro".

Trichet ribadisce la richiesta di estendere e rendere più flessibile il fondo di salvataggio della zona euro e ripete che questo potrebbe includere l'autorizzazione all'Efsf all'acquisto di titoli di stato.

"Fa pare della flessibilità complessiva", afferma. "Non voglio dettare misure ai governi".

 

[tommy271]

ECB’s Trichet Says Governments Must Improve Working of EFSF

By Francine Lacqua and Jeff Black - Jan 26, 2011 7:13 PM GMT+0100


European Central Bank President Jean-Claude Trichet comments on the bank’s monetary policy and the euro-area economy.
Trichet spoke today in an interview with Bloomberg Television at the World Economic Forum in Davos, Switzerland.
On whether EFSF should buy government bonds:

“I don’t want to dictate behavior to governments, I know it is complex. There are a number of tools that they can utilize -- there are a number of possibilities. I would certainly not exclude that one, which I would consider useful in certain circumstances.”

On the function of the EFSF:
“We call on governments to improve the functioning of this stabilization fund, both in quantity and in quality -- quality meaning flexibility.”

On whether markets over-interpreted his remarks on inflation at his Jan. 13 press conference:
“I have nothing to add. We always take the decision which allows us to deliver price stability. We consider the” current benchmark interest rate “appropriate.”
“We have a solid anchoring of inflation expectations.”

On the monetary-policy outlook:
“We’re never pre-committed, you will never have me pre- commit to do or not to do something. We will do what is necessary, it is not by chance that we have delivered price stability. Our credibility it based on that doctrine.”
On inflation expectations:
“Their expectations are based on what they think are threats. What’s important is that they know that we will deliver and they trust us to deliver. And that’s something that’s extremely important for them. I won’t comment on what markets are doing. What counts is not words but deeds -- and we have a track record.”

On banks:
“If I look at what has been done,” a “large number of banks have improved their balance sheet. I see we’re now in a much more dynamic growth of outstanding credit both to households which are now in positive territory and for non- financial corporations. I expect that will continue to go in the right direction.”

On economic growth:
“Since the start of the recovery in the euro area, the third quarter of 2009, we have quarter after quarter been positively surprised, not fantastically positively, but there have been a number of surprises.”
“A number of indicators are confirming” the recovery. “We always remain prudent and cautious.”

On fiscal consolidation:
“Now we have all countries in Europe with the adjustment program and we’re calling on all of them to be very, very strict on following what has been decided.”
“ We have called for a quantum leap. I don’t want to enter into any details. Governments have a responsibility. That’s our own message.”

On debt restructuring:
“We have programs in the case of Greece, of Ireland. We are calling on these countries to follow the plan. We follow very cautiously and attentively the implementation of the plan.”

A debt restructuring is “not in the plan. We have the progressive implementation of decisions that were difficult to take. What’s decisive is that you do that job. It’s true for absolutely all vast economies to do their job.”



(Bloomberg)