Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (5 lettori)

[tommy271]

Libya Owes More Than USD 700mn To Greek companies



Despite Muammar Gaddafi’s enormous private property, Libya owes more than USD 700mn to Greek companies that have been operating in the Northern African country.

Some of the outstanding debts, which amount to USD 716.2mn (EUR 520.4mn), are pending since the 1980s, mainly to Greek constructors.

The issue was discussed during a joint ministerial committee between Greece and Libya in Tripoli last September, but failed to provide any positive outcome. Now the companies are worried that the debts won’t be paid off, given the unrest in the region.

The repayment of the major 1980s projects are still due to ETEP, operating in Libya as Tageco. According to sources, it had agreed with Gaddafi to receive oil in repayment of the debt.

Libya owes OTE EUR2.2mn, according to Foreign Ministry’s official data, while the issue of liquidation of the former Olympic Airways Office in Benghazi is pending with the returning of the company’s cash reserves.

In the Memorandum of Understanding, signed in 1999 by Libya and Greece, there are 13 cases of Greek technical and commercial companies, including Sikelis, EKTE ATE and Neodomi.

Moreover, since the beginning of an intensive reconstruction program in 1980s, Libya has outstanding debts to J&P Overseas, Archimides, Chalkida Cement, Metalerga and more, while J&P Avax, Intracom, Maritech and Hellenic Petroleum participated in the restructuring program in 2006.

(capital.gr)

 

[tommy271]

German EcoMin: EFSF Size Shouldn’t Be Boosted



German Economics Minister Rainer Bruederle told Frankfurter Allgemeine Zeitung that the size of the current rescue fund shouldn’t be boosted.

The nominal value of the permanent crisis resolution mechanism should equal the size of the current fund, or EUR500bn plus an additional EUR250bn coming from the International Monetary Fund, said Bruederle.

In a worst case, Germany would need to contribute about EUR 174bn to rescue debt-troubled euro members. That would include EUR22.4bn of financial aid to Greece, EUR119bn in contributions to the European Financial Stability Facility and EUR 11.4bn to the European Stability Mechanism.

"But I don’t think it will come to that," Bruederle commented.

Bruederle also said that EFSF shouldn’t be mandated to buy euro-zone government bonds directly. Asked whether the rescue facility should start buying Greek bonds, Bruederle responded: "I don’t have any sympathy for that proposal."


(capital.gr)

 

[tommy271]

Nella prima metà del pomeriggio, l'indice ASE ha recuperato un pò il terreno perso. Ora siamo a 1580, -0,17.
Le escursioni di prezzo, intraday, sono molto alte.

I nostri spread hanno dato un accenno di restringimento, ma le pressioni rimangono molto forti.
L'estrema debolezza caratterizza tutta questa fase, senza essere di fronte a cadute importanti di valore: ora intorno a 890 pb.

 

[tommy271]

EU seeks to bridge divide over competitivity pact
By Yacine Le Forestier (AFP)




BRUSSELS — European Union president Herman Van Rompuy sought Monday to bridge divisions over deepening economic coordination in the eurozone, scaling down a disputed Franco-German plan opposed by several states.
Van Rompuy was given a mandate by EU leaders at a February 4 summit to draft a competitivity pact that has been pushed by France and Germany in order to prevent any new debt crises from rocking the euro.
Several countries have criticised the pact as a German attempt to impose its austere economic model on the rest of the eurozone nations.
A proposal drafted by Van Rompuy's office and the executive European Commission omits the most controversial ideas pushed by Berlin, a source close to the matter told AFP.
The Van Rompuy-Commission plan leaves out two hotly contested proposals -- raising the retirement age and eliminating wage laws that link salary increases to inflation across the 17 nations, the source said.
The plan was to be presented at a closed-door meeting of senior officials from the 17-nation single currency area on Monday.
The economic coordination plan is part of efforts to reassure markets that Europe is taking steps to put on a lid on a debt crisis that forced Greece and Ireland to take bailouts last year and threatens to take down others, including Portugal and Spain.
The proposal comes ahead of a special summit of eurozone leaders on March 11 and a full meeting of EU chiefs on March 24-25 that will also decide the size, shape and scope of a permanent debt rescue fund for the single currency area.
German Chancellor Angela Merkel has made the competitivity pact a condition for continuing to provide financial aid to struggling countries.
The EU version of the pact calls on states to respect a series of benchmarks in three areas -- competitivity, employment and pensions, and budgetary discipline, the source said.
In case salaries rise too sharply, for instance, governments would have to take steps to slow them down.
Governments would also have to adopt a German-style "debt brake" to prevent states from exceeding EU spending limits. Germany has enshrined the rule in its constitution but the pact would not require other states to do the same.
Targets would have to be set to reduce unemployment, especially among the young, monitor pension systems to ensure they are solvent and allocate funds for research and development.
All members of the 27-nation European Union -- the eurozone 17 plus 10 other nations -- would be invited to take part in the pact, the source said.
Inviting others into the fold would reassure eastern European countries such as Poland, which are not yet members of the eurozone, that they would not be excluded from any enhanced cooperation in Europe.
Eurozone states, however, would have the possibility of setting "more ambitious targets" than other European nations, the source said.

 

[tommy271]

Bce domani drena fondi 7gg per compensare 77,5 mld acquisti bond

lunedì 28 febbraio 2011 15:38



FRANCOFORTE, 28 febbraio (Reuters) - L'istituto centrale di Francoforte ha annunciato per domani un'operazione di drenaggio fondi a una settimana, con l'obiettivo di raccogliere un totale di 77,5 miliardi di euro per sterilizzare gli acquisti di bond sul mercato secondario effettuati dal sistema delle banche centrali alla data di venerdì scorso 25 febbraio ECB35.
Il livello degli acquisti di titoli dell'ultima settimana - 369 milioni - è nettamente inferiore a quello della settimana precedente, in cui l'importo è stato di 711 milioni.


***
Briciole.

 

[tommy271]

EU Seeks To Drop Contested Provisions Of Competition Pact



European Union President Herman Van Rompuy attempts to soften some of the most controversial provisions of a euro-zone economic package proposed by France and Germany, according to Dow Jones Newswires.

A senior official from the currency noted that the new version of the so-called competitiveness pact is being drafted by European Council President and the European Commission, after the original Franco-German pact was met by with great opposition at a summit earlier this month.

Unlike the Franco-German pact, this latest paper will not ask member states to harmonize their corporate tax bases, the official said. That was of particular concern to Ireland, which has one of the EU΄s lowest corporate tax rates, said the newswires.

Nor would the pact abolish the practice of indexing wages to inflation. Instead, countries will need to institute mechanisms that can prevent wages from rising too quickly.

However, many of the pact΄s other provisions remain roughly in place, such as an increasing of public pension age.

"National governments must put together plans that show that their pension system is sustainable," the official said, according to Dow Jones.

(capital.gr)

***
Sempre intorno al patto di stabilità ...

 

[tommy271]

Chiusura alla Borsa di Atene caratterizzata da un'alta volatilità con escursioni di prezzo comprese entro una quarantina di punti giornalieri.
L'ASE segna 1576 punti con -0,4%. Volumi intensi a 137 mln.

I nostri spread sempre tendenti verso l'allargamento a 891 pb. circa.
Movimenti in laterale.

 

[IL MARATONETA]

Chiusura alla Borsa di Atene caratterizzata da un'alta volatilità con escursioni di prezzo comprese entro una quarantina di punti giornalieri.
L'ASE segna 1576 punti con -0,4%. Volumi intensi a 137 mln.

I nostri spread sempre tendenti verso l'allargamento a 891 pb. circa.
Movimenti in laterale.

Ancora dossier titoli pieno di frecce rosse; i cali non sono drammatici, ma i nostri GGB si stanno indebolendo giorno dopo giorno.

 

[THE LAST]

Ancora dossier titoli pieno di frecce rosse; i cali non sono drammatici, ma i nostri GGB si stanno indebolendo giorno dopo giorno.

E' quello che volevo dire anche io sebbene il GGBEI 25 negli ultimi giorni non si è comportato troppo male...staremo a vedere

 

[tommy271]

I cali di prezzo sono lenti ma inesorabili, se guardiamo l'andamento su base settimanale il rosso è ben evidente.
Ci troviamo entro la zona di oscillazione individuata agli inizi della discesa (870/900 pb).
In settimana potremmo assistere ad una uscita da questa zona, in relazione agli sviluppi della discussione sul debito pubblico in area euro.