Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (4 lettori)

[tommy271]

Greek Shares in Line With European Peers



The Greek market opens on Monday, moving in a mildly corrective mood, as foreign markets are negatively affected by the Egyptian unrest. The General Index is on negative grounds, following gains of 17.5% for the previous two weeks.

“The market will most probably accumulate at current price levels with the risk lying to the downside, as the Egyptian crisis seems to be weighing negatively in foreign markets”, says Marfin Analysis in its morning report.

Pegasus Securities expects development in Egypt to weigh heavily on the market΄s behavior, temporarily halting the Index΄s ascending trend.

It expects the market to “open on lower levels, with the dynamics of the correction being determined by the course of foreign markets and the willingness of investors to capitalize significant short-term gains”.

According to Kyprou Securities, “verbal support towards the Euro by top-ranked European leaders and already recorded actual political determination in Greece to balance its financials makes us be really optimistic about confronting high Greek debt and fiscal weakness.”

It expects a long and bumpy road ahead to full recovery from the current crisis in Greece. “Short-term and mid-term course will be possibly determined by the day-to day performance of the Greek State and the speed the methods to solve the troubled EU member States debt crisis”, it adds.

Across the board, the General Index is at 1585.82 units, down by 0.34%, limiting its losses of up to 1.44% earlier. The turnover stands at EUR30mn, while a total amount of 48 shares rise, 60 decline and 33 remain unchanged.

(capital.gr)

 

[tommy271]

Merkel's Plan Could Transform the European Union



(...)
Il suo piano è pronto, ma c'è ancora discussione su come renderlo realtà. Barroso ha detto alla Merkel, durante la riunione della scorsa settimana, che la Commissione europea vuole dirigere il processo.
Merkel, d'altro canto, sostiene che questo ruolo lo vuole per sé e per gli altri capi di Stato e di governo.
Ci è stato riferito di una accesa discussione su questo punto.
"Io non permetterò alla Commissione europea di essere messo da parte", Barroso ha detto ai suoi collaboratori in seguito.
Almeno la Merkel ha assicurato che la Commissione verificherà i progressi fatti verso gli obiettivi del piano dei singoli paesi.
Ha anche detto che avrebbe potuto partecipare alle riunioni che i leader dei paesi della zona euro convocheranno in futuro.
(...)

An Economic Government for the Euro Zone?: Merkel's Plan Could Transform the European Union - SPIEGEL ONLINE - News - International

 

[tommy271]

Greece In Talks With EU/IMF On A Debt Restructuring Scheme



Greece is in talks with the European Union and International Monetary Fund on a debt restructuring package, according to Financial Times.

The scheme would enable Greece to borrow up to EUR50bn from the European Financial Stability Facility (EFSF), to buy back bonds at about 75% of face value.

Banking sources note that the maturity of Greece’s EUR110bn bailout loan from the EU and IMF would be extended to 30 years and the interest rate reduced below the current 5.5 per cent.

“Formal contacts on the package are under way but they’re at an early stage,” a banker said at the weekend.

However, such a proposal requires the approval of European leaders and Germany seems against such uses of the EFSF, says the newspaper.

Additionally, The Guardian said on Sunday that “the European Union is engaged in frantic behind the scenes talks” to reduce Greece΄s debt as international monitors fly into Athens this week.

The newspaper notes that plans to buy back Greek debt at a discount are being given "urgent consideration". This scenario is called restructuring by stealth by economist.

The three-stage scheme would allow Greece to purchase Greek bonds owned by the European Central Bank at 75% of their nominal value by borrowing from the European Financial Stability Facility, at reduced market rates, according to the Guardian.

Greek Finance Minister George Papaconstantinou has denied that there have been any discussion at the European Union level to extend debt repayments to 30 years, according Dow Jones Newswires.

"There isn’t any official proposal on the table," Papaconstantinou told local newspaper Ta Nea in an interview.

(capital.gr)

 

[tommy271]

Support grows for lengthening Greek debt payback



THREE-STAGE SOLUTION

Greek newspaper To Vima published more details of what it
said was Weber's plan, resembling the so-called Brady bonds
which rescued Latin America from bankruptcy in the 1980s.

Under the three-stage plan, Greece would borrow from the
euro zone's new rescue fund to buy back its own bonds from the
ECB and private bondholders at about 75 percent of face value,
the paper quoted a senior banker with knowledge of the talks as
saying.

The EU and the International Monetary Fund would extend the
maturity of bailout loans to 30 from three years and private
lenders who own more than 100 billion euros of Greek bonds would
be invited to extend their maturity to between 15 and 20 years.

All these measures would result in the reprofiling of about
two-thirds of Greece's total debt by the end of this year, To
Vima said. Athens' debt is projected to peak at 158 percent of gross
domestic product in 2013 according to the 110 billion euro
EU/IMF adjustment programme, a level many in financial markets
regard as unsustainable.

Private bondholders' acceptance of any voluntary buy-back or
swap of Greek bonds is uncertain since an EU source says banks
are currently holding 80 percent of Greek debt to maturity to
avoid declaring losses, and only 20 percent on trading books at
a discounted "fair value".

Greek Finance Minister George Papaconstantinou said in a
newspaper interview on Monday that, while there was no official
proposal on the table, "It is clear, however, that there are
thoughts on how to improve the debt sustainability of countries
like Greece with a longer repayment period."

***
Un riassunto Reuters sulle principali opzioni...

 

[ferdo]

Support grows for lengthening Greek debt payback
...
The EU and the International Monetary Fund would extend the
maturity of bailout loans to 30 from three years and private
lenders who own more than 100 billion euros of Greek bonds would
be invited to extend their maturity to between 15 and 20 years.
...
***
Un riassunto Reuters sulle principali opzioni...

anche noi?!?!

 

[tommy271]

anche noi?!?!

Private bondholders' acceptance of any voluntary buy-back or
swap of Greek bonds is uncertain since an EU source says banks
are currently holding 80 percent of Greek debt to maturity to
avoid declaring losses, and only 20 percent on trading books at
a discounted "fair value".

Son sempre ipotesi, sia ben chiaro...

 

[ferdo]

Private bondholders' acceptance of any voluntary buy-back or
swap of Greek bonds is uncertain since an EU source says banks
are currently holding 80 percent of Greek debt to maturity to
avoid declaring losses, and only 20 percent on trading books at
a discounted "fair value".

Son sempre ipotesi, sia ben chiaro...

beh la 2025 ad 80 ma anche a 75 potrei pure dargliela

 

[tommy271]

beh la 2025 ad 80 ma anche a 75 potrei pure dargliela

Bisogna vedere su quali titoli faranno il buy-back (e a che prezzo ...) o un concambio.
Certamente quelli in mano BCE avranno un PMC basso, ma quelli in mano ad altri istituzionali?

 

[ferdo]

Bisogna vedere su quali titoli faranno il buy-back (e a che prezzo ...) o un concambio.
Certamente quelli in mano BCE avranno un PMC basso, ma quelli in mano ad altri istituzionali?

e le banche greche?!
le fanno attingere da BCE nei prox anni?!?!

 

[charlie84]

Spread in leggero restringimento a 833 pb