tommy271
Forumer storico
Un aumento dei tassi avrà certamente più ripercussione sul Bund ... l'andamento del Future a partire da dicembre è abbastanza emblematico.
Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
- Creatore Discussione Imark
- Data di Inizio
- Stato
Un aumento dei tassi avrà certamente più ripercussione sul Bund ... l'andamento del Future a partire da dicembre è abbastanza emblematico.
tommy271
Forumer storico
Ieri giornata di grandi recuperi sui Periferici, nessuno escluso.
Il clima è disteso e le attese per il Vertice di fine settimana sono notevoli.
Sarà banale, ma forse potremmo aspettarci che per tutta settimana il restringimento prosegua.
Per i nostri ellenici la strada da fare è tanta quando, verso la fine del 2009, lo spread verso il Bund iniziò a divaricarsi.
Allora eravamo intorno a qualche centinaio di punti, ora siamo a 780 ...
La missione della Troika ad Atene sta proseguendo nel più assoluto riserbo ma pare - stando ai rumors - che non ci dovrebbero essere (anche questa volta) problemi al rilascio della quarta tranche da 15 MLD.
Nell'Esecutivo è intanto allo studio un piano che consenta di risparmiare altri 12 MLD per quest'anno, in linea con il programma del Memorandum.
In Irlanda, nel frattempo, Cowen si appresta a sciogliere il Parlamento. Ieri si è recato dal Capo di Stato per rassegnare le dimissioni ed indire elezioni anticipate per il 25 Febbraio.
Non parteciperà alla competizione elettorale.
Anche sulla penisola iberica soffia aria salutare, così pure in Italia e sul Belgio. Ci auguriamo tutti sia l'inizio di una inversione di tendenza.
Grecia 779 pb. (814)
Irlanda 581 pb. (601)
Portogallo 367 pb. (390)
Spagna 200 pb. (223)
Italia 142 pb. (156)
Belgio 100 pb. (112)
Il clima è disteso e le attese per il Vertice di fine settimana sono notevoli.
Sarà banale, ma forse potremmo aspettarci che per tutta settimana il restringimento prosegua.
Per i nostri ellenici la strada da fare è tanta quando, verso la fine del 2009, lo spread verso il Bund iniziò a divaricarsi.
Allora eravamo intorno a qualche centinaio di punti, ora siamo a 780 ...
La missione della Troika ad Atene sta proseguendo nel più assoluto riserbo ma pare - stando ai rumors - che non ci dovrebbero essere (anche questa volta) problemi al rilascio della quarta tranche da 15 MLD.
Nell'Esecutivo è intanto allo studio un piano che consenta di risparmiare altri 12 MLD per quest'anno, in linea con il programma del Memorandum.
In Irlanda, nel frattempo, Cowen si appresta a sciogliere il Parlamento. Ieri si è recato dal Capo di Stato per rassegnare le dimissioni ed indire elezioni anticipate per il 25 Febbraio.
Non parteciperà alla competizione elettorale.
Anche sulla penisola iberica soffia aria salutare, così pure in Italia e sul Belgio. Ci auguriamo tutti sia l'inizio di una inversione di tendenza.
Grecia 779 pb. (814)
Irlanda 581 pb. (601)
Portogallo 367 pb. (390)
Spagna 200 pb. (223)
Italia 142 pb. (156)
Belgio 100 pb. (112)
tommy271
Forumer storico
ASE posts banner month
(ANA-MPA) -- The Athens Stock Exchange was the best performer among Europe’s main stock markets in January, followed by the markets of Nicosia, Milan and Madrid, while it was also the best performer among the world’s 80 largest markets, with a monthly advance of 12.69 pct.
The Greek market discounted an urgent and general solution to the Eurozone’s debt crisis.
The rally began in mid-January when a Eurogroup meeting, on Jan. 17, left the door open for a significant strengthening of a European Financial Support Fund. Final decisions are likely to be taken at an EU summit in March 25, or during an urgent summit in early March.
Also, favourable tax changes, such as reducing a tax on non-distributed earnings from 24 pct to 20 pct and replacing a 40-pct tax on distributed earnings with a 25-pct withholding tax, contributed to the positive climate on the Athens bourse.
The Big Cap index rose 11.70 pct in January, the Mid Cap index was up 8.4 pct and the Small Cap index ended 12.3 pct up. The market’s capitalization grew by 7.792 billion euros to 62.727 billion euros.
(ana.gr)
(ANA-MPA) -- The Athens Stock Exchange was the best performer among Europe’s main stock markets in January, followed by the markets of Nicosia, Milan and Madrid, while it was also the best performer among the world’s 80 largest markets, with a monthly advance of 12.69 pct.
The Greek market discounted an urgent and general solution to the Eurozone’s debt crisis.
The rally began in mid-January when a Eurogroup meeting, on Jan. 17, left the door open for a significant strengthening of a European Financial Support Fund. Final decisions are likely to be taken at an EU summit in March 25, or during an urgent summit in early March.
Also, favourable tax changes, such as reducing a tax on non-distributed earnings from 24 pct to 20 pct and replacing a 40-pct tax on distributed earnings with a 25-pct withholding tax, contributed to the positive climate on the Athens bourse.
The Big Cap index rose 11.70 pct in January, the Mid Cap index was up 8.4 pct and the Small Cap index ended 12.3 pct up. The market’s capitalization grew by 7.792 billion euros to 62.727 billion euros.
(ana.gr)
tommy271
Forumer storico
Greece: Labour Minister Louka Katseli says EFSF could buy country's bonds
Lefteris Papadimas ATHENS - 02.02.2011
The euro zone's rescue fund could buy Greece's bonds on the secondary market to help the debt-laden country out of its crisis, Labour Minister Louka Katseli told Reuters on Tuesday.
Low-rated euro zone government debt rallied on Tuesday on talk of expanding the role of the region's EFSF bailout fund to resolve a crisis that has shaken markets worldwide.
Katseli said bond buy-back proposals "could be set up in some fashion by the euro zone."
"The EFSF could go on the secondary market on a voluntary basis to buy Greek bonds and replace them with AAA bonds with a lower coupon," Katseli said, without giving any more details.
European Union leaders are expected to reach a package deal in late March on reforming the rescue fund, conducting new, tougher bank stress tests, tightening fiscal discipline and improving economic policy coordination in the euro zone.
Among the steps being considered are an increase in the effective capacity of the EFSF, which for technical reasons can lend only about 250 billion euros, and giving it new powers to buy bonds directly or make loans to troubled countries so they can buy their own bonds.
Greece's public debt equals 145 percent of GDP and is projected to peak at 158 percent in 2013, according to EU and IMF forecasts, a level many in the financial markets say is unsustainable.
The country became the first euro zone member to receive an EU/IMF bailout last May. It received 110 billion euros in loans after it was forced out of capital markets due to its massive government debt and budget deficit.
Finance Minister George Papaconstantinou said last week in Davos, Switzerland that allowing his country to buy back government bonds at a discount on the market was being discussed but would require funding.
Source Reuters
(balkans.com)
Lefteris Papadimas ATHENS - 02.02.2011
The euro zone's rescue fund could buy Greece's bonds on the secondary market to help the debt-laden country out of its crisis, Labour Minister Louka Katseli told Reuters on Tuesday.
Low-rated euro zone government debt rallied on Tuesday on talk of expanding the role of the region's EFSF bailout fund to resolve a crisis that has shaken markets worldwide.
Katseli said bond buy-back proposals "could be set up in some fashion by the euro zone."
"The EFSF could go on the secondary market on a voluntary basis to buy Greek bonds and replace them with AAA bonds with a lower coupon," Katseli said, without giving any more details.
European Union leaders are expected to reach a package deal in late March on reforming the rescue fund, conducting new, tougher bank stress tests, tightening fiscal discipline and improving economic policy coordination in the euro zone.
Among the steps being considered are an increase in the effective capacity of the EFSF, which for technical reasons can lend only about 250 billion euros, and giving it new powers to buy bonds directly or make loans to troubled countries so they can buy their own bonds.
Greece's public debt equals 145 percent of GDP and is projected to peak at 158 percent in 2013, according to EU and IMF forecasts, a level many in the financial markets say is unsustainable.
The country became the first euro zone member to receive an EU/IMF bailout last May. It received 110 billion euros in loans after it was forced out of capital markets due to its massive government debt and budget deficit.
Finance Minister George Papaconstantinou said last week in Davos, Switzerland that allowing his country to buy back government bonds at a discount on the market was being discussed but would require funding.
Source Reuters
(balkans.com)
tommy271
Forumer storico
Bonds gain on talk of solution
Spread narrows to 783 bps; Nomura says Greece can implement plan without triggering default
Greek bonds led a rally in debt from Europe’s high-deficit nations on Tuesday amid speculation that European Union policymakers are closer to resolving the region’s debt crisis.
Officials are believed to be approaching a consensus that will enable a rescue fund to buy distressed governments’ debt in private placements, Bloomberg reported, citing three unnamed people familiar with the discussions.
Moves under discussion include secondary market purchases, using loans for governments to retire traded debt at a discount, and better aid terms, the sources said.
The spread between the Greek 10-year bond and the German bund narrowed to 783 basis points on Tuesday. It was standing at 870 bps in mid-January. Greek stocks also jumped on Tuesday on bank-led gains, outperforming their advancing European peers.
Meanwhile, Nomura International said on Tuesday that Greece is likely to reorganize its debt payments after a March meeting of European policymakers and will implement the plan without triggering a default.
“People may be willing to extend the maturities and lower coupon payments on Greek bonds,” said Nick Firoozye, Nomura’s head of interest rate strategy in London.
“The exchanges we are talking about would be purely voluntary. It’s possible to do the exchanges without triggering credit default swaps.”
Greece may succeed in extending the maturities of its bonds because domestic holders, central banks and investors intending to hold the securities to maturity would be more willing to accept this than realize a loss, Firoozye said.
Credit default swaps on Greek debt dropped 37 basis points to 823 on Tuesday, according to CMA. A basis point on a swap protecting 10 million euros of debt from default for five years is equivalent to 1,000 euros a year. The contracts pay the buyer face value in exchange for the underlying securities or the cash equivalent should a borrower fail to adhere to its debt agreements. A decline signals improvement in perceptions of credit quality.
ekathimerini.com , Tuesday February 1, 2011 (21:54)
Spread narrows to 783 bps; Nomura says Greece can implement plan without triggering default
Officials are believed to be approaching a consensus that will enable a rescue fund to buy distressed governments’ debt in private placements, Bloomberg reported, citing three unnamed people familiar with the discussions.
Moves under discussion include secondary market purchases, using loans for governments to retire traded debt at a discount, and better aid terms, the sources said.
The spread between the Greek 10-year bond and the German bund narrowed to 783 basis points on Tuesday. It was standing at 870 bps in mid-January. Greek stocks also jumped on Tuesday on bank-led gains, outperforming their advancing European peers.
Meanwhile, Nomura International said on Tuesday that Greece is likely to reorganize its debt payments after a March meeting of European policymakers and will implement the plan without triggering a default.
“People may be willing to extend the maturities and lower coupon payments on Greek bonds,” said Nick Firoozye, Nomura’s head of interest rate strategy in London.
“The exchanges we are talking about would be purely voluntary. It’s possible to do the exchanges without triggering credit default swaps.”
Greece may succeed in extending the maturities of its bonds because domestic holders, central banks and investors intending to hold the securities to maturity would be more willing to accept this than realize a loss, Firoozye said.
Credit default swaps on Greek debt dropped 37 basis points to 823 on Tuesday, according to CMA. A basis point on a swap protecting 10 million euros of debt from default for five years is equivalent to 1,000 euros a year. The contracts pay the buyer face value in exchange for the underlying securities or the cash equivalent should a borrower fail to adhere to its debt agreements. A decline signals improvement in perceptions of credit quality.
ekathimerini.com , Tuesday February 1, 2011 (21:54)
tommy271
Forumer storico
Resistance to measures troubles government
PM says benefits of changes yet to trickle down to citizens
Prime Minister George Papandreou’s comment to ministers on Tuesday that Greece was beginning to see the “first positive signs” from its reforms could not disguise that the government is growing increasingly worried about the resistance of unions and citizens’ groups to some of its policies.
Papandreou claimed during a meeting with his ministers that Greece was regaining its trustworthiness internationally and that the structural reforms and spending cuts it has been carrying out were beginning to pay off. Papandreou however recognized that citizens were yet to experience the benefits of these policies.
This somewhat rosy picture was not reflected in a series of meetings that the prime minister held with several of his ministers. One of the main topics of discussion was a seemingly ever more stubborn resistance to several of the government’s recent measures.
According to sources, PASOK is concerned by the hardline stance of public transport unions, which have resumed protests this week and even defied a court decision ruling some strikes illegal.
Citizens’ movements, which have covered up ticket machines on buses and at metro stations to protest price hikes, as well as those that have forced open barriers at tollbooths so cars can pass for free are also a worry for government members.
Sources said the government fears that it could be undermined if more reforms provoke further acts of resistance.
Pharmacists, for instance, are going on strike again at the end of the week in opposition to the terms under which their sector is being liberalized. Given that PASOK has to open up dozens of closed professions, the potential for disruption to the government’s work is great.
ekathimerini.com , Tuesday February 1, 2011 (22:40)
PM says benefits of changes yet to trickle down to citizens
Prime Minister George Papandreou’s comment to ministers on Tuesday that Greece was beginning to see the “first positive signs” from its reforms could not disguise that the government is growing increasingly worried about the resistance of unions and citizens’ groups to some of its policies.
Papandreou claimed during a meeting with his ministers that Greece was regaining its trustworthiness internationally and that the structural reforms and spending cuts it has been carrying out were beginning to pay off. Papandreou however recognized that citizens were yet to experience the benefits of these policies.
This somewhat rosy picture was not reflected in a series of meetings that the prime minister held with several of his ministers. One of the main topics of discussion was a seemingly ever more stubborn resistance to several of the government’s recent measures.
According to sources, PASOK is concerned by the hardline stance of public transport unions, which have resumed protests this week and even defied a court decision ruling some strikes illegal.
Citizens’ movements, which have covered up ticket machines on buses and at metro stations to protest price hikes, as well as those that have forced open barriers at tollbooths so cars can pass for free are also a worry for government members.
Sources said the government fears that it could be undermined if more reforms provoke further acts of resistance.
Pharmacists, for instance, are going on strike again at the end of the week in opposition to the terms under which their sector is being liberalized. Given that PASOK has to open up dozens of closed professions, the potential for disruption to the government’s work is great.
ekathimerini.com , Tuesday February 1, 2011 (22:40)
tommy271
Forumer storico
ΠΑΣΟΚ: Εξασφαλισμένη η δ’ δόση του δανείου
Η διαβεβαίωση πως είναι εξασφαλισμένη η τέταρτη δόση του δανείου προς τη χώρα μας δόθηκε κατά τη διάρκεια της σημερινής συνεδρίασης του κοινοβουλευτικού τομέα εργασίας (ΚΤΕ) οικονομίας του ΠΑΣΟΚ, ενώ διατυπώθηκε ακόμη μια φορά με ξεκάθαρο τρόπο ότι η Ελλάδα δεν συζητά αναδιάρθρωση του χρέους της.
Για το σχέδιο που θα παρουσιαστεί στους εκπροσώπους της τρόικας και αφορά το χρονικό διάστημα 2012-2014, αναφέρθηκε ότι αυτό θα ρίχνει το βάρος στην ανάπτυξη και δεν θα αφορά μισθούς και ΦΠΑ.
Για τις συζητήσεις που γίνονται στην Ευρώπη αναφέρθηκε ότι στο τραπέζι έχουν πέσει πολλά θέματα, τα οποία όμως αποτελούν ιδέες. Τέλος σε ότι αφορά τους προβληματισμούς που διατυπώθηκαν από βουλευτές για το αν η κυβέρνηση θα πετύχει τους στόχους του 2012-14, εκφράζεται η πεποίθηση ότι θα επιτευχθούν, όπως έχουν επιτευχθεί και αυτοί που έχουν τεθεί ως τώρα.
kathimerini.gr με πληροφορίες από ΑΠΕ-ΜΠΕ
PASOK: assicurata la quarta rata del prestito
La quarta rata del prestito della Troika per la Grecia sarebbe assicurata. Questo è stato ribadito durante la seduta di lavoro del gruppo parlamentare (CTD) del PASOK. E' stata espressa inoltre, ancora una volta, e molto chiaramente che la Grecia non ha discusso di ristrutturazione del debito.
Per il piano da presentare ai rappresentanti della troika per il periodo 2012-2014, è stato indicato indicato che lo sforzo sarà rivolto verso crescita e non sui salari e sull'IVA.
Infine, alcune preoccupazioni sono state sollevate dai deputati sul fatto che il governo raggiunga i propri obiettivi per il biennio 2012-14. E' stata espressa la convinzione che gli obiettivi saranno raggiunti: come sino a questo momento è stato fatto e come lo sarà anche prossimamente.
(libera traduzione)
Για το σχέδιο που θα παρουσιαστεί στους εκπροσώπους της τρόικας και αφορά το χρονικό διάστημα 2012-2014, αναφέρθηκε ότι αυτό θα ρίχνει το βάρος στην ανάπτυξη και δεν θα αφορά μισθούς και ΦΠΑ.
Για τις συζητήσεις που γίνονται στην Ευρώπη αναφέρθηκε ότι στο τραπέζι έχουν πέσει πολλά θέματα, τα οποία όμως αποτελούν ιδέες. Τέλος σε ότι αφορά τους προβληματισμούς που διατυπώθηκαν από βουλευτές για το αν η κυβέρνηση θα πετύχει τους στόχους του 2012-14, εκφράζεται η πεποίθηση ότι θα επιτευχθούν, όπως έχουν επιτευχθεί και αυτοί που έχουν τεθεί ως τώρα.
kathimerini.gr με πληροφορίες από ΑΠΕ-ΜΠΕ
PASOK: assicurata la quarta rata del prestito
La quarta rata del prestito della Troika per la Grecia sarebbe assicurata. Questo è stato ribadito durante la seduta di lavoro del gruppo parlamentare (CTD) del PASOK. E' stata espressa inoltre, ancora una volta, e molto chiaramente che la Grecia non ha discusso di ristrutturazione del debito.
Per il piano da presentare ai rappresentanti della troika per il periodo 2012-2014, è stato indicato indicato che lo sforzo sarà rivolto verso crescita e non sui salari e sull'IVA.
Infine, alcune preoccupazioni sono state sollevate dai deputati sul fatto che il governo raggiunga i propri obiettivi per il biennio 2012-14. E' stata espressa la convinzione che gli obiettivi saranno raggiunti: come sino a questo momento è stato fatto e come lo sarà anche prossimamente.
(libera traduzione)
tommy271
Forumer storico
Κατσέλη: «Το ταμείο σταθερότητας θα μπορούσε να αγοράσει ελληνικά ομόλογα»
Ο Ευρωπαϊκός Μηχανισμός Χρηματοοικονομικής Σταθερότητας θα μπορούσε να αγοράσει ελληνικά ομόλογα στη δευτερογενή αγορά, ώστε να βοηθήσει τη χώρα να ξεπεράσει την κρίση χρέους υποστήριξε η υπουργός Εργασίας και Κοινωνικής Ασφάλισης Λούκα Κατσέλη με δηλώσεις της στο πρακτορείο Ρόιτερ.
«Το EFSF θα μπορούσε να μπει στη δευτερογενή αγορά σε εθελοντική βάση για να αγοράσει ελληνικά ομόλογα και να τα αντικαταστήσει με ομόλογα αξιολόγησης ΑΑΑ με χαμηλότερο κουπόνι», δήλωσε η κα. Κατσέλη δίχως να παράσχει περαιτέρω λεπτομέρειες, σύμφωνα με το Ρόιτερ. Όπως συμπλήρωσε, οι προτάσεις περί επαναγοράς ελληνικών ομολόγων «θα μπορούσαν να καθοριστούν με κάποιο τρόπο από την Ευρωζώνη».
kathimerini.gr με πληροφορίες από ΑΠΕ-ΜΠΕ
Katseli: "Il fondo di stabilità potrebbe acquistare obbligazioni greche
Il Fondo per la stabilità (EFSF) potrebbe acquistare obbligazioni greche sul mercato secondario per aiutare il paese a superare la crisi del debito, ha sostenuto il Ministro del Lavoro e della Previdenza Sociale Luka Katseli all'agenzia Reuters.
"Il EFSF potrebbe entrare nel mercato secondario, su base volontaria per acquistare titoli greci e li sostituisce poi con obbligazioni rating AAA con cedole inferiori", ha detto la signora Katseli senza fornire ulteriori dettagli.
(libera traduzione dei punti salienti)
Ο Ευρωπαϊκός Μηχανισμός Χρηματοοικονομικής Σταθερότητας θα μπορούσε να αγοράσει ελληνικά ομόλογα στη δευτερογενή αγορά, ώστε να βοηθήσει τη χώρα να ξεπεράσει την κρίση χρέους υποστήριξε η υπουργός Εργασίας και Κοινωνικής Ασφάλισης Λούκα Κατσέλη με δηλώσεις της στο πρακτορείο Ρόιτερ.
«Το EFSF θα μπορούσε να μπει στη δευτερογενή αγορά σε εθελοντική βάση για να αγοράσει ελληνικά ομόλογα και να τα αντικαταστήσει με ομόλογα αξιολόγησης ΑΑΑ με χαμηλότερο κουπόνι», δήλωσε η κα. Κατσέλη δίχως να παράσχει περαιτέρω λεπτομέρειες, σύμφωνα με το Ρόιτερ. Όπως συμπλήρωσε, οι προτάσεις περί επαναγοράς ελληνικών ομολόγων «θα μπορούσαν να καθοριστούν με κάποιο τρόπο από την Ευρωζώνη».
kathimerini.gr με πληροφορίες από ΑΠΕ-ΜΠΕ
Katseli: "Il fondo di stabilità potrebbe acquistare obbligazioni greche
Il Fondo per la stabilità (EFSF) potrebbe acquistare obbligazioni greche sul mercato secondario per aiutare il paese a superare la crisi del debito, ha sostenuto il Ministro del Lavoro e della Previdenza Sociale Luka Katseli all'agenzia Reuters.
"Il EFSF potrebbe entrare nel mercato secondario, su base volontaria per acquistare titoli greci e li sostituisce poi con obbligazioni rating AAA con cedole inferiori", ha detto la signora Katseli senza fornire ulteriori dettagli.
(libera traduzione dei punti salienti)
tommy271
Forumer storico
Labour Minister: EFSF Could Buy Greek Bonds
Greek Labour Minister told Reuters on Tuesday that the European Financial Stability Facility could buy Greek bonds on the secondary market to help the country overcome the debt crisis.
Louka Katseli said that buy-back proposals “could be set up in some fashion by the euro zone”, according to the news agency.
"The EFSF could go on the secondary market on a voluntary basis to buy Greek bonds and replace them with AAA bonds with a lower coupon," Katseli said.
(capital.gr)
***
News come sopra ...
Greek Labour Minister told Reuters on Tuesday that the European Financial Stability Facility could buy Greek bonds on the secondary market to help the country overcome the debt crisis.
Louka Katseli said that buy-back proposals “could be set up in some fashion by the euro zone”, according to the news agency.
"The EFSF could go on the secondary market on a voluntary basis to buy Greek bonds and replace them with AAA bonds with a lower coupon," Katseli said.
(capital.gr)
***
News come sopra ...
- Stato
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