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tommy271
Forumer storico
Greek PM: Need Change, Not Just Protests Over Austerity Plan
HELSINKI -(Dow Jones)- Greek Prime Minister George Papandreou said Wednesday he can understand the pain of the hundreds of thousands of people protesting in a nationwide general strike in Greece.
"Sometimes I would like to be out there protesting myself because I am not happy about what is happening, but it isn't enough to protest. We have to change our country, and we are determined to do so," Papandreou told a news conference in Helsinki.
Workers in Greece are protesting over the Socialist government's ongoing austerity program, with the strike closing down government ministries, local government offices, courts and schools.
Papandreou's comment came as he visited Finnish Prime Minister Mari Kiviniemi to gather support for Greece's interests ahead of a March 24-25 summit to decide on a competitiveness pact for the euro zone.
Kiviniemi said Wednesday that Finland is satisfied with Greece's efforts to balance its economy.
"We are, in Finland, satisfied with the measures Greece has taken to balance its national economy, and we expect that Greece will continue to carry out difficult structural reforms in the coming months, as there is lot to be done," Kiviniemi said.
Papandreou reiterated earlier statements that Greece wants to be credible to the European Union, its partners and creditors.
"I can guarantee you that we will pay back with interest and Finnish taxpayers have nothing to worry about," Papandreou said.
Papandreou said Greece has taken about four fifths of the decisions it needs to make on improving its economy.
"Still we want better transparency, better management in the public sector, develop public properties, bring in new investments and to be able to privatize in order to repay debt and spur economic growth," Papandreou said.
***
Oggi Papandreou si trova in Finlandia, tra qualche settimana il Parlamento si scioglierà per andare ad elezioni. Quindi è necessario prendere i dovuti accorgimenti, per non far slittare i provvedimenti di marzo.
HELSINKI -(Dow Jones)- Greek Prime Minister George Papandreou said Wednesday he can understand the pain of the hundreds of thousands of people protesting in a nationwide general strike in Greece.
"Sometimes I would like to be out there protesting myself because I am not happy about what is happening, but it isn't enough to protest. We have to change our country, and we are determined to do so," Papandreou told a news conference in Helsinki.
Workers in Greece are protesting over the Socialist government's ongoing austerity program, with the strike closing down government ministries, local government offices, courts and schools.
Papandreou's comment came as he visited Finnish Prime Minister Mari Kiviniemi to gather support for Greece's interests ahead of a March 24-25 summit to decide on a competitiveness pact for the euro zone.
Kiviniemi said Wednesday that Finland is satisfied with Greece's efforts to balance its economy.
"We are, in Finland, satisfied with the measures Greece has taken to balance its national economy, and we expect that Greece will continue to carry out difficult structural reforms in the coming months, as there is lot to be done," Kiviniemi said.
Papandreou reiterated earlier statements that Greece wants to be credible to the European Union, its partners and creditors.
"I can guarantee you that we will pay back with interest and Finnish taxpayers have nothing to worry about," Papandreou said.
Papandreou said Greece has taken about four fifths of the decisions it needs to make on improving its economy.
"Still we want better transparency, better management in the public sector, develop public properties, bring in new investments and to be able to privatize in order to repay debt and spur economic growth," Papandreou said.
***
Oggi Papandreou si trova in Finlandia, tra qualche settimana il Parlamento si scioglierà per andare ad elezioni. Quindi è necessario prendere i dovuti accorgimenti, per non far slittare i provvedimenti di marzo.
tommy271
Forumer storico
Sciopero in Grecia, scontri fra polizia e manifestanti
mercoledì 23 febbraio 2011 15:02
(aggiorna con particolari e nuovo titolo)
di Renee Maltezou
ATENE, 23 febbraio (Reuters) - La polizia in Grecia si è scontrata oggi con i manifestanti, mentre circa 100.000 tra lavoratori, pensionati e studenti hanno sfilato in corteo verso il Parlamento per protestare contro le misure di austerity adottate per fare rispettare al Paese i parametri fissati per uscire dalla difficile crisi provocata da un debito enorme.
Agenti in tenuta antisommossa hanno sparato a più riprese gas lacrimogeni e bombe abbaglianti contro i manifestanti che hanno lanciato bottiglie incendiarie, riempiendo di fumo piazza Syndagma e facendo fuggire in cerca di riparo i manifestanti.
Nelle 24 ore di protesta dei dipendenti pubblici, il personale ospedaliero è stato ridotto, le scuole sono rimaste chiuse e il trasporto pubblico sta subendo rallentamenti. Tra le 10 e le 14 (tra le 11 e le 15 italiane), soltanto i voli di emergenza sono stati consentiti mentre le navi rimangono ancorate nei porti per tutto il giorno.
Lo scorso anno, il governo socialista ha ridotto i salari e le pensioni e ha aumentato le tasse nonostante i molti scioperi, in cambio di un prestito da 110 miliardi di euro da parte di Unione europea e Fondo monetario internazionale che ha consentito alla Grecia di evitare la bancarotta. Inoltre questo mese è stata approvata una nuova tranche di aiuti da 15 miliardi di euro in cambio di un obiettivo più rigido per quanto riguarda le procedure di privatizzazione.
Il governo ha sollecitato gli organizzatori a far sì che le proteste si svolgano in modo pacifico.
Lo scorso novembre, il tasso di disoccupazione ha toccato un nuovo record ai massimi di sette mesi, al 13,9%, e l'economia ha registrato una flessione del 4,5% nel 2010, nel secondo anno di seguito di profonda recessione.
Decine di migliaia di persone hanno raggiunto in corteo il Parlamento lo scorso 15 dicembre e centinaia si sono scontrate con la polizia nella manifestazione di protesta più massiccia e più violenta da quando tre persone morirono lo scorso maggio.
***
Nel precedente articolo parlava di 35.000 manifestanti, ora parla di 100.000 ... deve mettersi d'accordo.
mercoledì 23 febbraio 2011 15:02
(aggiorna con particolari e nuovo titolo)
di Renee Maltezou
ATENE, 23 febbraio (Reuters) - La polizia in Grecia si è scontrata oggi con i manifestanti, mentre circa 100.000 tra lavoratori, pensionati e studenti hanno sfilato in corteo verso il Parlamento per protestare contro le misure di austerity adottate per fare rispettare al Paese i parametri fissati per uscire dalla difficile crisi provocata da un debito enorme.
Agenti in tenuta antisommossa hanno sparato a più riprese gas lacrimogeni e bombe abbaglianti contro i manifestanti che hanno lanciato bottiglie incendiarie, riempiendo di fumo piazza Syndagma e facendo fuggire in cerca di riparo i manifestanti.
Nelle 24 ore di protesta dei dipendenti pubblici, il personale ospedaliero è stato ridotto, le scuole sono rimaste chiuse e il trasporto pubblico sta subendo rallentamenti. Tra le 10 e le 14 (tra le 11 e le 15 italiane), soltanto i voli di emergenza sono stati consentiti mentre le navi rimangono ancorate nei porti per tutto il giorno.
Lo scorso anno, il governo socialista ha ridotto i salari e le pensioni e ha aumentato le tasse nonostante i molti scioperi, in cambio di un prestito da 110 miliardi di euro da parte di Unione europea e Fondo monetario internazionale che ha consentito alla Grecia di evitare la bancarotta. Inoltre questo mese è stata approvata una nuova tranche di aiuti da 15 miliardi di euro in cambio di un obiettivo più rigido per quanto riguarda le procedure di privatizzazione.
Il governo ha sollecitato gli organizzatori a far sì che le proteste si svolgano in modo pacifico.
Lo scorso novembre, il tasso di disoccupazione ha toccato un nuovo record ai massimi di sette mesi, al 13,9%, e l'economia ha registrato una flessione del 4,5% nel 2010, nel secondo anno di seguito di profonda recessione.
Decine di migliaia di persone hanno raggiunto in corteo il Parlamento lo scorso 15 dicembre e centinaia si sono scontrate con la polizia nella manifestazione di protesta più massiccia e più violenta da quando tre persone morirono lo scorso maggio.
***
Nel precedente articolo parlava di 35.000 manifestanti, ora parla di 100.000 ... deve mettersi d'accordo.
Ultima modifica:
tommy271
Forumer storico
Germania, governo a favore divieto Esm acquisti bond - portavoce
mercoledì 23 febbraio 2011 15:45
BERLINO, 23 febbraio (Reuters) - Un portavoce del governo tedesco ha spiegato che l'esecutivo di Berlino dà il proprio appoggio alla proposta passata dalla maggioranza di centrodesta che esclude che il fondo permanente europeo di salvataggio, l'Esm, possa acquistare titoli di debito.
"Si può ritenere che ci sia stato un forte coordinamento tra gruppi parlamentari ed esponenti del governo" ha detto il portavoce. "Ci sarà ulteriore coordinamento per tutto quello che riguarda i progressi nella negoziazione europea".
La maggioranza Cdu-Csu-liberaldemocratici chiede che gli acquisti di titoli di stato siano esclusi dal raggio d'azione dell'Esm, una volta che questo prenderà il posto dell'Efsf nel 2013.
mercoledì 23 febbraio 2011 15:45
BERLINO, 23 febbraio (Reuters) - Un portavoce del governo tedesco ha spiegato che l'esecutivo di Berlino dà il proprio appoggio alla proposta passata dalla maggioranza di centrodesta che esclude che il fondo permanente europeo di salvataggio, l'Esm, possa acquistare titoli di debito.
"Si può ritenere che ci sia stato un forte coordinamento tra gruppi parlamentari ed esponenti del governo" ha detto il portavoce. "Ci sarà ulteriore coordinamento per tutto quello che riguarda i progressi nella negoziazione europea".
La maggioranza Cdu-Csu-liberaldemocratici chiede che gli acquisti di titoli di stato siano esclusi dal raggio d'azione dell'Esm, una volta che questo prenderà il posto dell'Efsf nel 2013.
Ultima modifica:
tommy271
Forumer storico
Citigroup: Buy Greek Government Bonds and Matching CDS Protection
Citigroup recommends the purchase of Greek government bonds combined with the purchase of matching CDS protection in a report on February 23.
Citigroup notes that nearly all European government bonds trade inside their CDS in spread terms. However, Greece is an exception – on some bonds the negative basis is currently well in excess of 100bp”.
“Historically, the basis has rarely been more negative than currently for long”, it comments.
Whether or not Greece ends up defaulting, Citigroup believes that the negative basis offers positive returns for investors.
It suggests:
-Buy Greece 5.5% Aug 2014 at a cash price of 77.5 or z-spread of 1165bp
-Buy Greek 3yr CDS protection at 1050bp (quoted at 100bp running)
-Lock in the differential of ~115bp
The negative basis (bond trading wider than CDS) of more than 100bp on some Greek bonds is unusual in several respects, according to Citigroup’s report.
If Greece avoids a restructuring, investors can ride the carry until maturity, while in a voluntary restructuring scenario (e.g. an exchange offer) an investor could simply choose not to participate, if the exchange offer were less attractive than the payout profile from the basis position.
If Greece were to restructure tomorrow, Citigroup believes the trade would perform strongly
If the restructuring were to assign different recovery rates to different maturities, that upside would in all probability be even greater, according to Citigroup.
(capital.gr)
***
Vedi post "FT Alphaville" in testa alla pagina.
Citigroup recommends the purchase of Greek government bonds combined with the purchase of matching CDS protection in a report on February 23.
Citigroup notes that nearly all European government bonds trade inside their CDS in spread terms. However, Greece is an exception – on some bonds the negative basis is currently well in excess of 100bp”.
“Historically, the basis has rarely been more negative than currently for long”, it comments.
Whether or not Greece ends up defaulting, Citigroup believes that the negative basis offers positive returns for investors.
It suggests:
-Buy Greece 5.5% Aug 2014 at a cash price of 77.5 or z-spread of 1165bp
-Buy Greek 3yr CDS protection at 1050bp (quoted at 100bp running)
-Lock in the differential of ~115bp
The negative basis (bond trading wider than CDS) of more than 100bp on some Greek bonds is unusual in several respects, according to Citigroup’s report.
If Greece avoids a restructuring, investors can ride the carry until maturity, while in a voluntary restructuring scenario (e.g. an exchange offer) an investor could simply choose not to participate, if the exchange offer were less attractive than the payout profile from the basis position.
If Greece were to restructure tomorrow, Citigroup believes the trade would perform strongly
If the restructuring were to assign different recovery rates to different maturities, that upside would in all probability be even greater, according to Citigroup.
(capital.gr)
***
Vedi post "FT Alphaville" in testa alla pagina.
Ultima modifica:
tommy271
Forumer storico
Germany: Unclear Govt To Follow Vote Against ESM Bond Buyback
BERLIN (MNI) - A German government spokesman on Wednesday refused to say whether Chancellor Angela Merkel would comply with a non-binding resolution by the parliamentary groups of her CDU/CSU-FDP coalition to rule out bond buybacks by the future permanent European Stabilisation Mechanism.
"I won't anticipate the developments," spokesman Christoph Steegmans said at a regular government press conference here.
Still, the spokesman pointed out that many government members, including Merkel, are at the same time members of parliament. The resolution by the parliamentary groups speaking out against ESM bond buybacks was made "in close coordination with government members," he noted.
(imarketnews.com)
BERLIN (MNI) - A German government spokesman on Wednesday refused to say whether Chancellor Angela Merkel would comply with a non-binding resolution by the parliamentary groups of her CDU/CSU-FDP coalition to rule out bond buybacks by the future permanent European Stabilisation Mechanism.
"I won't anticipate the developments," spokesman Christoph Steegmans said at a regular government press conference here.
Still, the spokesman pointed out that many government members, including Merkel, are at the same time members of parliament. The resolution by the parliamentary groups speaking out against ESM bond buybacks was made "in close coordination with government members," he noted.
(imarketnews.com)
Ultima modifica:
tommy271
Forumer storico
Oggi andamento altalenante alla Borsa di Atene con escursioni positive e negative alternate. L'indice chiude a 1629 con + 0,64%. Sempre alti i volumi scambiati a 161 MLN.
Il nostro spread rimane sempre debole, cedendo qualche posizione verso fine pomeriggio: ora intorno a 877 pb.
Il nostro spread rimane sempre debole, cedendo qualche posizione verso fine pomeriggio: ora intorno a 877 pb.
Ultima modifica:
tommy271
Forumer storico
Borsa Atene: Ase chiude a +0,6%, bene bancari
MILANO (MF-DJ)--L'indice Ase della Borsa di Atene termina le contrattazioni in rialzo dello 0,6% a quota 1629,7 punti, beneficiando del miglioramento delle performance dei titoli bancari, il sui sotto-indice guadagna l'1,8%.
I volumi salgono a 161,4 mln euro.
"Una serie di indiscrezioni su possibili attivita' di fusioni tra le banche scatenano la propensione all'acquisto, nonostante manchino notizie certe", commenta Louis Nikolopoulos, analista di Marfin Analysis-Ibg. In territorio positivo Eurobank a +7,1%, Alpha a +4%, Piraeus a +3,7%, Hellenic Telecoms a +2,2%
MILANO (MF-DJ)--L'indice Ase della Borsa di Atene termina le contrattazioni in rialzo dello 0,6% a quota 1629,7 punti, beneficiando del miglioramento delle performance dei titoli bancari, il sui sotto-indice guadagna l'1,8%.
I volumi salgono a 161,4 mln euro.
"Una serie di indiscrezioni su possibili attivita' di fusioni tra le banche scatenano la propensione all'acquisto, nonostante manchino notizie certe", commenta Louis Nikolopoulos, analista di Marfin Analysis-Ibg. In territorio positivo Eurobank a +7,1%, Alpha a +4%, Piraeus a +3,7%, Hellenic Telecoms a +2,2%
tommy271
Forumer storico
Greece's Paralyzing General Strike Turns Violent In Central Athens
-- Greece hit by general strike, first such protest of 2011
-- Protesters clash with police in the capital
-- Strike action hobbles public transport in Athens
-- Strike draws support from business community
By Alkman Granitsas and Nick Skrekas
Of DOW JONES NEWSWIRES
ATHENS (Dow Jones)--Greece was paralyzed Wednesday by a nationwide general strike as hundreds of thousands of workers, shop keepers and civil servants walked off the job in a 24-hour protest over the Socialist government's ongoing austerity program.
In the center of Athens, a protest by thousands of workers, leftists and civil servants outside parliament in Syntagma Square turned violent as several hundred youths hurled projectiles, fire crackers and Molotov cocktails at police, who responded with volleys of tear gas and stun grenades.
Police estimate the total number of protesters in the capital at about 30,000 and while some incidents have occurred they are relieved that violent episodes haven't been more widespread.
The clashes spread to other points around the city center with police and protesters fighting in the streets near the University of Athens campus and in parts of the central business district.
Protesters also set up road blocks, attacked shops and set small fires in garbage bins.
"We have made one arrest of a man who had in his possession an archer's bow and arrows, as well as an axe. We hadn't seen anything like that before," police spokesman Panagiotis Papapetropoulos told Dow Jones Newswires.
However, turnout was moderate compared with previous 24-hour strike rallies.
Greece's two umbrella unions, GSEE and ADEDY, which together have around 1.2 million members, called the protests over the austerity measures, and come as Greece stumbles its way through its worst recession in decades, made worse by a raft of government austerity measures and economic reforms.
"Workers today are living through the most barbaric attack at the expense of their rights and their lives," public sector umbrella union ADEDY said in a statement. "We have a collective and personal responsibility to ourselves and to our children to succeed in our struggle."
The strike affected public services, with government ministries, local government offices, courts and schools all closed, while hospitals and many state-owned enterprises were operating with skeleton staff.
Mass transit around the capital ground to a halt as bus, trolley, tram and subway operations were suspended, with only Athens' electric rail operating a reduced schedule.
Nearly 50 domestic flights were canceled ahead of a four-hour walkout by air traffic controllers, while ferry operations to Greece's islands were also suspended.
Recent data show that Greece's recession has deepened, with the economy contracting a worse-than-expected 4.5% last year and with few signs of an upturn in sight.
Joblessness has risen to 13.9%, while youth unemployment is a staggering 35.6%. Greece's retailers association, ESEE, estimates that 120,000 small businesses will be declared bankrupt this year alone.
At the same time, the Greek government is struggling to implement a three-year austerity program in an effort to close a budget deficit that reached a record 15.6% of gross domestic product in 2009.
The austerity measures, along with a series of other economic reforms, are part of a deal reached last May between Greece and the European Union and International Monetary Fund in exchange for a EUR110 billion bailout.
Wednesday's action--the first such strike this year--has drawn support from the business community, with ESEE calling on its members to close their shops and join the protest. Private doctors, pharmacists and journalists also walked off the job.
Greek Prime Minister George Papandreou said Wednesday he understands the pain of the people protesting, but indicated that protest itself wasn't enough.
"Sometimes I would like to be out there protesting myself because I am not happy about what is happening, but it isn't enough to protest. We have to change our country, and we are determined to do so," Papandreou told a news conference in Helsinki.
Police spokesman Papapetropoulos said about 3,000 security officers are ready in the streets of Athens to prevent the demonstrations from sliding into destructive violence.
"We have already taken increased security measures," he added.
***
Anche qui si parla di circa 30.000 persone, un numero abbastanza limitato ...
-- Greece hit by general strike, first such protest of 2011
-- Protesters clash with police in the capital
-- Strike action hobbles public transport in Athens
-- Strike draws support from business community
By Alkman Granitsas and Nick Skrekas
Of DOW JONES NEWSWIRES
ATHENS (Dow Jones)--Greece was paralyzed Wednesday by a nationwide general strike as hundreds of thousands of workers, shop keepers and civil servants walked off the job in a 24-hour protest over the Socialist government's ongoing austerity program.
In the center of Athens, a protest by thousands of workers, leftists and civil servants outside parliament in Syntagma Square turned violent as several hundred youths hurled projectiles, fire crackers and Molotov cocktails at police, who responded with volleys of tear gas and stun grenades.
Police estimate the total number of protesters in the capital at about 30,000 and while some incidents have occurred they are relieved that violent episodes haven't been more widespread.
The clashes spread to other points around the city center with police and protesters fighting in the streets near the University of Athens campus and in parts of the central business district.
Protesters also set up road blocks, attacked shops and set small fires in garbage bins.
"We have made one arrest of a man who had in his possession an archer's bow and arrows, as well as an axe. We hadn't seen anything like that before," police spokesman Panagiotis Papapetropoulos told Dow Jones Newswires.
However, turnout was moderate compared with previous 24-hour strike rallies.
Greece's two umbrella unions, GSEE and ADEDY, which together have around 1.2 million members, called the protests over the austerity measures, and come as Greece stumbles its way through its worst recession in decades, made worse by a raft of government austerity measures and economic reforms.
"Workers today are living through the most barbaric attack at the expense of their rights and their lives," public sector umbrella union ADEDY said in a statement. "We have a collective and personal responsibility to ourselves and to our children to succeed in our struggle."
The strike affected public services, with government ministries, local government offices, courts and schools all closed, while hospitals and many state-owned enterprises were operating with skeleton staff.
Mass transit around the capital ground to a halt as bus, trolley, tram and subway operations were suspended, with only Athens' electric rail operating a reduced schedule.
Nearly 50 domestic flights were canceled ahead of a four-hour walkout by air traffic controllers, while ferry operations to Greece's islands were also suspended.
Recent data show that Greece's recession has deepened, with the economy contracting a worse-than-expected 4.5% last year and with few signs of an upturn in sight.
Joblessness has risen to 13.9%, while youth unemployment is a staggering 35.6%. Greece's retailers association, ESEE, estimates that 120,000 small businesses will be declared bankrupt this year alone.
At the same time, the Greek government is struggling to implement a three-year austerity program in an effort to close a budget deficit that reached a record 15.6% of gross domestic product in 2009.
The austerity measures, along with a series of other economic reforms, are part of a deal reached last May between Greece and the European Union and International Monetary Fund in exchange for a EUR110 billion bailout.
Wednesday's action--the first such strike this year--has drawn support from the business community, with ESEE calling on its members to close their shops and join the protest. Private doctors, pharmacists and journalists also walked off the job.
Greek Prime Minister George Papandreou said Wednesday he understands the pain of the people protesting, but indicated that protest itself wasn't enough.
"Sometimes I would like to be out there protesting myself because I am not happy about what is happening, but it isn't enough to protest. We have to change our country, and we are determined to do so," Papandreou told a news conference in Helsinki.
Police spokesman Papapetropoulos said about 3,000 security officers are ready in the streets of Athens to prevent the demonstrations from sliding into destructive violence.
"We have already taken increased security measures," he added.
***
Anche qui si parla di circa 30.000 persone, un numero abbastanza limitato ...
Ultima modifica:
tommy271
Forumer storico
Israel Recognizes Greek Exclusive Economic Zone
Posted on 23 February 2011 by Venetia Aftzigianni
According to published maps, Tel Aviv recognizes the Greek Exclusive Economic Zone (EEZ), which is the continuation of the Cypriot EEZ. However, Greece has not yet recognized its EEZ because of a disagreement with Turkey regarding the Kastelorizo shelf. The maps were also sent to Greek authorities. They describe the course of the gas pipeline which will transfer gas produced by American Νoble Εnergy Ltd. from the Leviathan reservoir to Europe, through an undersea pipeline crossing Greece. The gas pipeline should traverse the sea area, which according to international law, is part of the Greek EEZ. It travels the eastern Mediterannean areas of Kastelorizo, Ro and Megisti. Until the end of April, Israel will determine the amount of natural gas resources in Leviathan and the level of gas to be exploited. By this proposal, Israel recognizes the Greek EEZ in the area and offers an advantage that Greece can use during negotiation procedures to support its claims on the area. In practice, this cooperation will set up a powerful energy coalition between Greece, Cyprus and Israel. The mining and operating part will be undertaken by an American company.
(greekreporter.gr)
Posted on 23 February 2011 by Venetia Aftzigianni
According to published maps, Tel Aviv recognizes the Greek Exclusive Economic Zone (EEZ), which is the continuation of the Cypriot EEZ. However, Greece has not yet recognized its EEZ because of a disagreement with Turkey regarding the Kastelorizo shelf. The maps were also sent to Greek authorities. They describe the course of the gas pipeline which will transfer gas produced by American Νoble Εnergy Ltd. from the Leviathan reservoir to Europe, through an undersea pipeline crossing Greece. The gas pipeline should traverse the sea area, which according to international law, is part of the Greek EEZ. It travels the eastern Mediterannean areas of Kastelorizo, Ro and Megisti. Until the end of April, Israel will determine the amount of natural gas resources in Leviathan and the level of gas to be exploited. By this proposal, Israel recognizes the Greek EEZ in the area and offers an advantage that Greece can use during negotiation procedures to support its claims on the area. In practice, this cooperation will set up a powerful energy coalition between Greece, Cyprus and Israel. The mining and operating part will be undertaken by an American company.
(greekreporter.gr)
- Stato