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

[tommy271]

Greek, Irish Debt Restructuring Is Not ‘In Order’

By Anchalee Worrachate - Feb 3, 2011 5:58 PM GMT+0100 Thu Feb 03 16:58:07 GMT 2011

Debt restructuring for Greece or Ireland isn’t “in order,” according to a European Union official.
“I don’t think at the current moment that debt restructuring is in order or included in the Greek or Irish program,” Gerassimos Thomas, a director responsible for relations with international financial institutions at the European Commission, said at the Association for Financial Markets in Europe’s Market Liquidity conference in London.
“We will have enough tools in the box post-2013 to deal with future crises,” he said.
The European Commission is the EU’s executive arm.



(Bloomberg)

 

[tommy271]

Greece Plans to Increase Public Sector Employees Working Week

By Marcus Bensasson - Feb 3, 2011 6:00 PM GMT+0100


Greece plans to raise the working week for public sector staff to 40 hours, in line with private industry, Interior Minister Yiannis Ragousis said.
As well as the increase from the current 37.5 hours a week, the interior ministry plans to change work timetables so the public can access more services in the afternoon, Ragousis said, after a meeting with public sector union ADEDY in Athens.
The measures are intended to provide “the best service for citizens, which will come from the increase in the public sector’s productivity,” Ragousis said, according to a transcript of his comments from the ministry.
Ragousis said that the move to increase the working week for public workers wasn’t one of the conditions of a 110 billion-euro ($150 billion) bailout from the European Union and International Monetary Fund last year.



(Bloomberg)

 

[tommy271]

EFG Eurobank sells Polbank stake to Raiffeisen


ATHENS | Thu Feb 3, 2011 1:11pm EST



ATHENS Feb 3 (Reuters) - Greece's second-largest lender EFG Eurobank (EFGr.AT) said on Thursday it agreed to sell a 70 percent stake of its Polish unit, Polbank, to Austria's Raiffeisen for 490 million euros ($675.2 million) in cash.
"EFG Eurobank announces it agreed to proceed to a strategic partnership with Raiffeisen Bank International AG for its activities in Poland," the Greek lender said. "The sale's conditions include the acquisition of 70 percent of Polbank by Raiffeisen for 490 million euros in cash".


***
Era interessata all'acquisto anche IntesaSanpaolo.

 

[tommy271]

Grecia, fonti: Ue e Germania valutano interventi debito in 2011

giovedì 3 febbraio 2011 17:55




BRUXELLES (Reuters) - Unione europea e funzionari dell'esecutivo tedesco stanno valutando l'eventualità di intervenire con misure volte alla riduzione dello stock del debito greco già nel secondo semestre del 2011.
Lo dicono fonti vicine ai colloqui in corso precisando che la tempistica dell'intervento - che potrebbe avvenire tramite un buyback o una volontaria variazione dei termini di rimborso dei governativi - mira a alleviare le pressioni su Atene prima che la maggior parte del debito ellenico passi nelle mani pubbliche.
Secondo il programma previsto dal piano di sostegno Ue/Fmi il debito pubblico greco supererà entro il 2013 la soglia di 150% del prodotto interno lordo.
"E' uno degli scenari possibili" spiega una fonte Ue sollecitata a commentare tempi e natura dell'intervento.
"Un riacquisto implicherebbe il ritiro o uno scambio dei governativi; in alternativa potrebbero cercare un'intesa con i creditori riducendo le cedole e allungando la scadenza dei prestiti" spiega una seconda fonte vicina al ministero delle Finanze tedesco.
Non si parla però di nulla che non sia volontario perché una simile ipotesi spaventerebbe i mercati" aggiunge.
Una fonte della presidenza francese ha intanto spiegato alla stampa che il fondo di salvataggio per la zona euro potrebbe finanziare Atene o qualsiasi altro paese in difficoltà in modo da permettere operazioni di buyback o swap sul debito su base volontaria.

 

[tommy271]

Chiusure in tendenziale allargamento, un movimento che coinvolge tutti i Periferici senza nesssuna specifica per paese.
Oggi si aprirà l'atteso vertice a Bruxelles dove si potrà fare il punto sull'avanzamento delle discussioni intorno al EFSF.
I nostri ellenici si trovano sempre intorno ai minimi del periodo, le news in grado di orientare i prezzi passeranno tutte sulle loro teste.
Le aspettative sono tante: però -sin da ora - ogni provvedimento reale sarà demandato alla prossima riunione di marzo.
Il clima rimane sereno...

Grecia 767 pb. (762)
Irlanda 574 pb. (569)
Portogallo 371 pb. (355)
Spagna 199 pb. (186)
Italia 140 pb. (130)
Belgio 95 pb. (92)

 

[tommy271]

ND leader covers gamut of issues




(ANA-MPA) -- Main opposition New Democracy (ND) leader Antonis Samaras on Thursday lashed out at the government, accusing it of treating the country like "a company undergoing liquidation".

Speaking before his party's Parliamentary group, Samaras stressed that the country needs a government that can change the terms of the memorandum, while he accused the government of preparing a new package of austerity measures without showing any social sensitivity.

The ND president repeated that measures boosting growth are necessary for the country to get out of the crisis.

As regards the parliamentary investigation committees, Samaras accused the government of attempting to keep ND hostage and repeated his proposal for backdated processing of "sources of wealth" statements, submitted by political figures who took office in the period following the restoration of democracy in the country (1974).

On the illegal migration issue, he stressed that it is "hypocritical and inconsistent" to pass legislation (a naturalisation) that attracts migrants and, at the same time, build a fence to keep them out.

He did not rule out the likelihood of snap elections that will be "the result of the people's rage".

(ana.gr)

 

[tommy271]

PM confers with visiting Cyprus President


(ANA-MPA) -- Prime Minister George Papandreou and visiting Cyprus President Demetris Christofias on Thursday discussed the latest developments in the Cyprus issue following recent talks held by UN Secretary-General Ban Ki Moon with Christofias and Turkish Cypriot leader Dervis Eroglu in Geneva.

Describing the meeting with Christofias as "crucial", Papandreou expressed hope that the Turkish-Cypriot side will "finally respond to his well-known proposals for an honest and mutual compromise, in the framework of a negotiation without pressing deadlines and arbitration".

Papandreou and Christofias called on Turkey and the Turkish Cypriots to display a constructive stance and refrain from putting forward issues that are not part of the Cyprus reunification process, relevant UN resolutions and the agreements reached between the leaders of the two communities on Cyprus.

"We look for a just solution that will end the occupation and settlement and the outdated guarantee formations," Papandreou added.

The premier also stressed Greece's steadfast support for the Cyprus government, saying that the Cyprus issue remained a top priority of Greek foreign policy and that Greek-Turkish relations could not be normalised until it was solved.

Christofias expressed hope that a just and viable solution to the Cyprus issue that will be acceptable to all Cypriots may be found by the end of 2011.

He noted that the Cyprus government's stance in Geneva had indicated its willingness to "proceed in a practical and effective way" to find such a solution and that it was now up to Turkey and the Turkish Cypriots to do the same.

He criticised the Turkish Cypriots for insisting on positions that were not in UN resolutions and past agreements, especially its refusal to link the territorial, settlement and property issues, which he stressed were key to a meaningful negotiation. Christofias said this refusal was a deliberate delaying tactic designed to lead the talks to a deadlock and ensure four-way talks on Cyprus' internal affairs.

(ana.gr)

 

[tommy271]

EU Rehn: Need Stronger EFSF, Greater Economic Union - Press



FRANKFURT (MNI) - The Eurozone must push ahead with reforms for more economic coordination and competitiveness and must also boost the European Financial Stability Facility's lending capacity, EU Economic and Monetary Affairs Olli Rehn said in guest column published Friday in the German daily Handelsblatt.

"As part of the overall economic package for Europe, it will be necessary to increase the EFSF's lending capacity to the sum originally target in May 2010," Rehn said.

Currently the fund is restricted to lending much less than its E440 billion target, because reserves need to be put aside to ensure a triple-A credit rating on the debt it issues. Its current effective lending capacity is said to be about E250 billion.
Rehn also said that Europe must "urgently improve its competitiveness," which "requires the currency union to become a real economic union."

The publication of Rehn's piece comes ahead of today's meeting of European leaders in Brussels. Policymakers are expected to discuss a comprehensive package intended to make the Eurozone more resilient, though no final decisions are expected to be announced.

Rehn appears to be pushing for a deal between Germany and France camp on one side and many smaller countries on the other.

He supports Germany's call for more coordinated economic policies to boost competitiveness, while calling on Germany to support enlargement of the European Financial Stability Facility.

In exchange for boosting the EU rescue fund, the German government demands increased economic cooperation, with other countries aligning their policies closer to Germany's. Berlin wants to coordinate corporate taxes and retirement ages, scrap wage indexation, and it expects other member states to mirror its laws limiting public deficits and debt.

Rehn also observed that some Eurozone member states, including Greece, Ireland, Portugal and Spain had introduced "ambitious reforms" and "are making progress."



(imarketnews.com)

 

[tommy271]

Bond euro partono deboli in scia Treasuries, attesi occupati Usa

venerdì 4 febbraio 2011 08:33




LONDRA, 4 febbraio (Reuters) - Viaggiano in territorio
negativo i derivati sul decennale tedesco negli scambi della
prima mattinata, ricalcando la correzione dei Treasuries Usa.

Gli investitori aggiustano intanto le posizioni in vista di
una possibile lettura migliore delle attese della statistica
chiave sugli occupati mensili Usa, per cui il consensus raccolto
da Reuters proietta una crescita di 145.000 posti di lavoro a
gennaio dopo i +103.000 di dicembre.

"A giudicare dal movimento di questa mattina il mercato
sembra predisporsi a un risultato più forte delle attese. In
caso di risultato inferiore al consensus potrebbe crearsi una
situazione difficile" commenta un operatore londinese.

Spunti operativi potrebbero anche venire dal vertice europeo
dei capi di Stato e di governo in agenda oggi a Bruxelles, in
cui i leader dei ventisette torneranno a discutere di modi e
tempi di risposta alla crisi della zona euro.

Le scommesse di potenziamento del ruolo del fondo di
stabilità Efsf, struttura messa a punto per il salvataggio
dell'Irlanda, hanno nel corso delle ultime settimane favorito la
performance dei mercati secondari extra-core, tra cui l'Italia.

Difficile però che dall'incontro odierno a Bruxelles,
considerato una tappa interlocutoria, emergano novità di
rilievo.

 

[Grisù]

Il che e' la peggior sfiga che puo' capitarvi, in quanto lungi dall'approfittare dell'estemporaneo rimbalzo per chiudere la posizione con una perdita piu' contenuta, la maggior parte di voi corre a ingozzarsi di altra carta igienica ellenica vaneggiando fantascientifici scenari di risanamento , col risultato di incrementare ulteriormente la perdita finale.

Vero, nel mio caso la scorsa volta il guadagno sulla vendita delle scadenze brevi fu solo del 6% dai primi tuoi annunci di immediato fallimento.
In effetti sarebbero bastati un altro paio di interventi mirati, per arrivare tranquillamente ad un 10%.

Ultimamente sei troppo moderato e quindi il valore dei titoli ne sta risentendo. Servirebbero un paio di annunci di prossimi fallimenti, magari indicando anche che i titoli prenderanno valore non prossimo allo zero ma negativo.