Jessica.
out of time...
..io parto dal presupposto che in caso di ristrutturazione, i creditori saranno trattati allo stesso modo.. indifferentemente (eccetto fmi )...
Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (16 lettori)
- Creatore Discussione Imark
- Data di Inizio
- Stato
..io parto dal presupposto che in caso di ristrutturazione, i creditori saranno trattati allo stesso modo.. indifferentemente (eccetto fmi )...
tommy271
Forumer storico
Questo è vero.
Rimangono esclusi, come sappiamo, i crediti sino a questo momento concessi dalla Troika: per il FMI senz'altro, per la UE potrebbe darsi.
Il mio ragionamento, sul 14, deriva dal fatto che sappiamo che nessun titolo può essere considerato "sicuro", oltre le scadenze immediate.
Quindi neanche un titolo che scade tra un anno lo può essere, dato che pare acclarata la "soluzione" al problema entro i prossimi mesi.
Non è riducendo la duration che possiamo considerarci al sicuro, possiamo invece aspettarci un rimbalzo più consistente in caso di ricadute positive.
Interesse della Grecia rimane lo spostamento delle prossime scadenze più in là nel tempo.
Rimango, al momento, convinto che qualsiasi "ristrutturazione" o "concambio" possa essere effettuata solo su base volontaria.
Quindi, non penalizzante, alle attuali quotazioni.
tommy271
Forumer storico
Splits in Cabinet and among PASOK's deputies
PM hits out at critics as unrest grips his own party
Prime Minister George Papandreou hit out at the government’s critics on Thursday as the cracks in PASOK’s unity grew, with Socialist MPs threatening to vote down a liberalization bill.
Papandreou accused opposition parties and the media of continuously undermining the government’s efforts to stabilize the economy and improve public finances, and of generating fear among Greeks that the country would not meet the targets it has been set.
“These are the same people who, despite failing in all their previous predictions, continue their easy and destructive criticism,” said the premier. “They continue to cultivate fear and misery, using it as their main political tool.”
Papandreou was speaking after a stormy Cabinet meeting, during which several ministers objected to some of the provisions in Finance Minister Giorgos Papaconstantinou’s tax law.
It appears that the divisions are being stoked by concern that after carrying out the reforms necessary to slash public spending, the government is finding it difficult to put into effect changes that will start having an impact on how Greece operates.
Papandreou suggested at the Cabinet meeting that a small cross-ministerial team be created to coordinate legislation.
However, his suggestion came too late to prevent a near-rebellion from PASOK MPs in Parliament. A large group of Socialist lawmakers was angered by some of the content of a bill that liberalizes the legal profession. They were opposed to an article that allowed legal firms to open branches in other cities apart from the one they are based in. The disaffected deputies let it be known that they would vote against the legislation unless this clause was removed.
The government duly complied but it was clear that there is great unrest within the ruling party, as exemplified by the stance taken by Apostolos Kaklamanis, a former parliamentary speaker, and one of PASOK’s longest-serving MPs, who hit out at the inability of his party and New Democracy to cooperate on some issues.
“If this situation continues, then we have to go to the people,” he said. “Let’s see if they want our government, another one, or whether they want us to all work together.”
The prospect of calling snap elections is something Papandreou and his government have consistently rejected.
ekathimerini.com , Thursday February 17, 2011 (22:46)
PM hits out at critics as unrest grips his own party
Papandreou accused opposition parties and the media of continuously undermining the government’s efforts to stabilize the economy and improve public finances, and of generating fear among Greeks that the country would not meet the targets it has been set.
“These are the same people who, despite failing in all their previous predictions, continue their easy and destructive criticism,” said the premier. “They continue to cultivate fear and misery, using it as their main political tool.”
Papandreou was speaking after a stormy Cabinet meeting, during which several ministers objected to some of the provisions in Finance Minister Giorgos Papaconstantinou’s tax law.
It appears that the divisions are being stoked by concern that after carrying out the reforms necessary to slash public spending, the government is finding it difficult to put into effect changes that will start having an impact on how Greece operates.
Papandreou suggested at the Cabinet meeting that a small cross-ministerial team be created to coordinate legislation.
However, his suggestion came too late to prevent a near-rebellion from PASOK MPs in Parliament. A large group of Socialist lawmakers was angered by some of the content of a bill that liberalizes the legal profession. They were opposed to an article that allowed legal firms to open branches in other cities apart from the one they are based in. The disaffected deputies let it be known that they would vote against the legislation unless this clause was removed.
The government duly complied but it was clear that there is great unrest within the ruling party, as exemplified by the stance taken by Apostolos Kaklamanis, a former parliamentary speaker, and one of PASOK’s longest-serving MPs, who hit out at the inability of his party and New Democracy to cooperate on some issues.
“If this situation continues, then we have to go to the people,” he said. “Let’s see if they want our government, another one, or whether they want us to all work together.”
The prospect of calling snap elections is something Papandreou and his government have consistently rejected.
ekathimerini.com , Thursday February 17, 2011 (22:46)
tommy271
Forumer storico
Minister wants police force for tax crackdown
Papaconstantinou asks for ‘a tool to help me do my job’
Finance Minister.Giorgos Papaconstantinou on Thursday mooted the creation of a special police force to help crack down on widespread tax evasion during the discussion of a new raft of draft tax reforms at a cabinet meeting attended by Prime Minister George Papandreou.
According to sources, Papaconstantinou told cabinet members that he needs “a tool to help me do my job.”
It remained unclear on Thursday how the operation of this special police force would be differentiated from the role of the ministry’s financial crimes unit (SDOE) which has been spearheading efforts to curb tax evasion but has had more luck in issuing fines than collecting them.
There was reportedly some tense discussion during the cabinet meeting about which ministry the economic police force, if created, would answer to. It was decided that the force would be answerable to the Citizens’ Protection Ministry but that an economic prosecutor - a role to be assumed by an appeals court prosecutor - would continue to answer to the Justice Ministry.
Serious tax offenders will find it hard to slip the net as, in the case of felonies, they can be prosecuted up to five years after the misdeed was committed while for misdemeanors offenders can be prosecuted up to 20 months after the transgression.
In a decision posted online last week, it emerged that the government has decided to enlist the help of a private company to improve its tax collection efforts. There is to be a competition in April to choose the company which is to paid 2.5 million euros for the job.
ekathimerini.com , Thursday February 17, 2011 (22:43)
Papaconstantinou asks for ‘a tool to help me do my job’
According to sources, Papaconstantinou told cabinet members that he needs “a tool to help me do my job.”
It remained unclear on Thursday how the operation of this special police force would be differentiated from the role of the ministry’s financial crimes unit (SDOE) which has been spearheading efforts to curb tax evasion but has had more luck in issuing fines than collecting them.
There was reportedly some tense discussion during the cabinet meeting about which ministry the economic police force, if created, would answer to. It was decided that the force would be answerable to the Citizens’ Protection Ministry but that an economic prosecutor - a role to be assumed by an appeals court prosecutor - would continue to answer to the Justice Ministry.
Serious tax offenders will find it hard to slip the net as, in the case of felonies, they can be prosecuted up to five years after the misdeed was committed while for misdemeanors offenders can be prosecuted up to 20 months after the transgression.
In a decision posted online last week, it emerged that the government has decided to enlist the help of a private company to improve its tax collection efforts. There is to be a competition in April to choose the company which is to paid 2.5 million euros for the job.
ekathimerini.com , Thursday February 17, 2011 (22:43)
tommy271
Forumer storico
Sleeves rolled up for selloff plan
Finance Minister may unveil in mid-March how Greece will raise 50 bln euros; state committees to meet Friday
By Sotiris Nikas
After the furor caused by news that Greece is upping targeted privatization revenues to 50 billion euros, the Finance Ministry is working on procedures for the asset selloff procedure so that the minister, Giorgos Papaconstantinou, can unveil in mid-March how Greece will go about achieving this target.
Right now the ministry is moving ahead with the hiring of advisers for the privatization agenda. And, the names of the advisers that will weigh up the privatization of Athens’s old international airport at Elliniko are expected to be announced within the next few days by State Minister Haris Paboukis.
The government’s joint ministerial privatization committee is scheduled to meet on Friday, along with the strategic investments committee, in order to decide on whether the Elliniko project will be included in the fast-track procedure.
Meanwhile, the group of advisers who will help the government decide on whether or not to extend the Athens International Airport concession agreement to Germany’s Hochtief has already been selected.
A French bank and a Greek lender have been chosen and their task will be to measure the benefits arising from a possible extension of the concession agreement by 20 or 30 years.
Such an agreement could earn Greece between 200 million to 300 million euros, according to some estimates.
The government is also very close to appointing an adviser regarding the renewal of the operating licence held by betting company OPAP.
Additionally, developments are soon expected on the selloff of nickel producer Larco, and the development of the country’s ports and regional airports.
Meanwhile, Alpha Bank criticized the government in its weekly report published on Thursday for delaying in implementing its privatization agenda and for a lack of proper planning in order to achieve targets.
ekathimerini.com , Thursday February 17, 2011 (22:52)
***
Potrebbero spingersi anche a concessioni centenarie ... se il clima politico lo permette.
Finance Minister may unveil in mid-March how Greece will raise 50 bln euros; state committees to meet Friday
After the furor caused by news that Greece is upping targeted privatization revenues to 50 billion euros, the Finance Ministry is working on procedures for the asset selloff procedure so that the minister, Giorgos Papaconstantinou, can unveil in mid-March how Greece will go about achieving this target.
Right now the ministry is moving ahead with the hiring of advisers for the privatization agenda. And, the names of the advisers that will weigh up the privatization of Athens’s old international airport at Elliniko are expected to be announced within the next few days by State Minister Haris Paboukis.
The government’s joint ministerial privatization committee is scheduled to meet on Friday, along with the strategic investments committee, in order to decide on whether the Elliniko project will be included in the fast-track procedure.
Meanwhile, the group of advisers who will help the government decide on whether or not to extend the Athens International Airport concession agreement to Germany’s Hochtief has already been selected.
A French bank and a Greek lender have been chosen and their task will be to measure the benefits arising from a possible extension of the concession agreement by 20 or 30 years.
Such an agreement could earn Greece between 200 million to 300 million euros, according to some estimates.
The government is also very close to appointing an adviser regarding the renewal of the operating licence held by betting company OPAP.
Additionally, developments are soon expected on the selloff of nickel producer Larco, and the development of the country’s ports and regional airports.
Meanwhile, Alpha Bank criticized the government in its weekly report published on Thursday for delaying in implementing its privatization agenda and for a lack of proper planning in order to achieve targets.
ekathimerini.com , Thursday February 17, 2011 (22:52)
***
Potrebbero spingersi anche a concessioni centenarie ... se il clima politico lo permette.
tommy271
Forumer storico
G20, possibile accordo solo su alcuni indicatori - Noda
venerdì 18 febbraio 2011 09:33
PARIGI, 18 febbraio (Reuters) - Nel corso del G20, che parte oggi a Parigi, potrebbe non essere trovato un accordo su tutti gli indicatori proposti, che dovranno essere utilizzati come base per la correzione degli squilibri finanziari globali.
Lo ha detto, arrivando a Parigi per il vertice il ministro delle Finanze giapponese Yoshihiko Noda, specificando che l'intesa potrebbe essere raggiunta solo su alcuni indicatori specifici.
***
Da seguire anche i lavori del G-20 ...
venerdì 18 febbraio 2011 09:33
PARIGI, 18 febbraio (Reuters) - Nel corso del G20, che parte oggi a Parigi, potrebbe non essere trovato un accordo su tutti gli indicatori proposti, che dovranno essere utilizzati come base per la correzione degli squilibri finanziari globali.
Lo ha detto, arrivando a Parigi per il vertice il ministro delle Finanze giapponese Yoshihiko Noda, specificando che l'intesa potrebbe essere raggiunta solo su alcuni indicatori specifici.
***
Da seguire anche i lavori del G-20 ...
tommy271
Forumer storico
Bce,rialzo prestiti indica problemi certi paesi -fonte monetaria
venerdì 18 febbraio 2011 10:29
MILANO, 18 febbario (Reuters) - Il netto aumento del ricorso da parte delle banche del sistema bancario europeo ai finanziamenti marginali della Bce è la riprova che il mercato monetario non è ancora perfettamente funzionante in alcune delle sue parti. Cosa di cui la Bce è ben consapevole. Lo ha detto a Reuters una fonte monetaria a commento del dato di oggi sui finanziamenti marginali chiesti dalle banche del sistema euro, riferiti a ieri, e che mostrano ancora un livello ben sopra quello fisiologico a 16 miliardi, in crescita dai già elevati 15,8 miliardi del giorno precedente.
"Certamente possiamo dire che il dato non è frutto di un errore tecnico. E' invece la prova che ci sono alcune aree geografiche nella zona euro che mostrano di avere ancora difficoltà di accesso al mercato credito" ha detto la fonte.
"La Bce offre diversi sportelli di accesso ai finanziamenti, il ricorso ai prestiti overnight è solo uno di quelli, solo un po' più caro, ma è una scelta delle singole banche", ha aggiunto.
venerdì 18 febbraio 2011 10:29
MILANO, 18 febbario (Reuters) - Il netto aumento del ricorso da parte delle banche del sistema bancario europeo ai finanziamenti marginali della Bce è la riprova che il mercato monetario non è ancora perfettamente funzionante in alcune delle sue parti. Cosa di cui la Bce è ben consapevole. Lo ha detto a Reuters una fonte monetaria a commento del dato di oggi sui finanziamenti marginali chiesti dalle banche del sistema euro, riferiti a ieri, e che mostrano ancora un livello ben sopra quello fisiologico a 16 miliardi, in crescita dai già elevati 15,8 miliardi del giorno precedente.
"Certamente possiamo dire che il dato non è frutto di un errore tecnico. E' invece la prova che ci sono alcune aree geografiche nella zona euro che mostrano di avere ancora difficoltà di accesso al mercato credito" ha detto la fonte.
"La Bce offre diversi sportelli di accesso ai finanziamenti, il ricorso ai prestiti overnight è solo uno di quelli, solo un po' più caro, ma è una scelta delle singole banche", ha aggiunto.
tommy271
Forumer storico
IMF: Privatization Plan Is A Greek initiative
International Monetary Fund’s David Hawley said on Thursday that Greek government has designed a program to maximize returns of public enterprises and public property.
“We support it and offer our technical advice”, he added.
Asked whether the IMF would halt news conferences if the government requested it, the IMF spokesman said that communication is important and it should be effective.
“We are not prescriptive as to the manner in which it takes place”.
"The European partners and the IMF have full respect for the prerogatives and initiatives of the Greek authorities in all areas of decision-making. If another impression was perceived, that is regrettable," he commented regarding the tension that followed the joint press conference in Athens last week.
"We noted that Greece’s economic program remains on track”, Hawley said.
“We also indicated our continuing strong support for the government in meeting its objectives of fiscal consolidation and restoring growth and competitiveness, as reflected in the memorandum on the program”, he added.
(capital.gr)
International Monetary Fund’s David Hawley said on Thursday that Greek government has designed a program to maximize returns of public enterprises and public property.
“We support it and offer our technical advice”, he added.
Asked whether the IMF would halt news conferences if the government requested it, the IMF spokesman said that communication is important and it should be effective.
“We are not prescriptive as to the manner in which it takes place”.
"The European partners and the IMF have full respect for the prerogatives and initiatives of the Greek authorities in all areas of decision-making. If another impression was perceived, that is regrettable," he commented regarding the tension that followed the joint press conference in Athens last week.
"We noted that Greece’s economic program remains on track”, Hawley said.
“We also indicated our continuing strong support for the government in meeting its objectives of fiscal consolidation and restoring growth and competitiveness, as reflected in the memorandum on the program”, he added.
(capital.gr)
tommy271
Forumer storico
Greek Stocks Fluctuate Between Gains and Losses
Athens Exchange moves between profits and losses on Friday, following last session’s unexpected gains, helped by the buying interest shown blue chips.
Despite yesterday’s outperformance, Kyprou Securities remains cautious for the Greek market.
“We will be more optimistic in the case today’s session is also strong with large trading value. International investors could possibly start investing on the ASE but we are unaware of their investment horizon at the moment and we are cautious about a possible short-term slide”, said Kyprou.
Pegasus Securities notes that yesterday΄s rally was very promising “as it was accompanied by increased bid-side interest on most large- and mid-cap equities, slightly relieving investors, as the GI succeeded to gain distance from the exponential 200-days moving average for the 1st time in a week.”
Pegasus also estimates that market’s focus on specific equities and companies may be part of the Government΄s privatisation plans.
Eurobank Equities comments that sentiment in the domestic market appears upbeat and in this sense the market could remain on positive ground today.
Across the board, the General Index is at 1655.26, down 0.44%, losing its early gains of 1.37%. Turnover stands at EUR46.8mn, while a total amount of 62 shares rise, 45 decline and 38 remain unchanged.
Banks are at 1447.96, down 0.36%.Alpha Bank falls by 1.44%, while Eurobank and Bank of Cyprus decline by 0.44% and 0.30% respectively.
(capital.gr)
Athens Exchange moves between profits and losses on Friday, following last session’s unexpected gains, helped by the buying interest shown blue chips.
Despite yesterday’s outperformance, Kyprou Securities remains cautious for the Greek market.
“We will be more optimistic in the case today’s session is also strong with large trading value. International investors could possibly start investing on the ASE but we are unaware of their investment horizon at the moment and we are cautious about a possible short-term slide”, said Kyprou.
Pegasus Securities notes that yesterday΄s rally was very promising “as it was accompanied by increased bid-side interest on most large- and mid-cap equities, slightly relieving investors, as the GI succeeded to gain distance from the exponential 200-days moving average for the 1st time in a week.”
Pegasus also estimates that market’s focus on specific equities and companies may be part of the Government΄s privatisation plans.
Eurobank Equities comments that sentiment in the domestic market appears upbeat and in this sense the market could remain on positive ground today.
Across the board, the General Index is at 1655.26, down 0.44%, losing its early gains of 1.37%. Turnover stands at EUR46.8mn, while a total amount of 62 shares rise, 45 decline and 38 remain unchanged.
Banks are at 1447.96, down 0.36%.Alpha Bank falls by 1.44%, while Eurobank and Bank of Cyprus decline by 0.44% and 0.30% respectively.
(capital.gr)
- Stato