Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (7 lettori)

[tommy271]

ASE Fluctuates Between Gains and Losses



The Athens General Index moves aligned with the course of European indices on Thursday, fluctuating between profits and losses, while the market focuses on the upcoming European Summit on Friday.

Banks recover from early losses of 2.22%, reversing marginally on positive territory, while the performance of Hellenic Postbank stands out, posting profits of 2.19%.

Mytilineos and Public Power Corporation top General Index’s profits with gains of 3.33% and 2.16% respectively, following the new law bill by the Environment Ministry that opens the electricity market.

Pegasus Securities comments that the General Index’s course on Wednesday “demonstrated the nervousness of investors in relation to the “grey areas” surrounding the resolutions of the EU Summits, a situation not expected to change until final decisions are announced.”

Kyprou Securities remains cautious on the domestic market, as the sentiment seems to be fragile at the current moment, while speculation about potential debt restructuring does not benefit the ASE.

“Major EU decisions on the EFSF and weak fiscal performance could possibly lead the FTSE ASE 20 index even lower”, according to Kyprou.

Across the board, the General Index is at 1542.68 units, up 0.11% in a turnover of EUR 34.5mn. A total amount of 56 shares rise, 65 decline and 55 remain unchanged.

Banks also post marginal gains of 0.12%, at 1276.26 units. Apart from Hellenic Postbank, ATEBank and Marfin Popular Bank rise by 1.35% and 1.15% respectively, while Piraeus Bank, National Bank and Bank of Cyprus gain 0.7%, 0.64% and 0.38% respectively.

On the other hand, Geniki Bank and Proton Bank lose 1.6% and 1.33%, while Alpha Bank and Eurobank decline by 0.63% and 0.22% respectively.

(capital.gr)

***
La mattinata in borsa.
Spread sempre stabili a 967 pb.

 

[tommy271]

Papandreou says lower EU loan rate would be decisive






PARIS, March 10 | Thu Mar 10, 2011 6:07am EST



PARIS, March 10 (Reuters) - Greek Prime Minister George Papandreou said on Thursday that lowering the interest rate and extending the maturity of European Union and IMF loans could be "decisive" for Greece to meet its long-term targets. In an interview with France's Le Monde newspaper, Papandreou also said that a euro zone heads of state summit on Friday and a subsequent EU meeting on March 24-25 "constitute one of the last chances for Europe to face up to the markets."
"The extension of the repayment and a reduction in the interest rates of the loans made by the European Union and the IMF would be decisive factors to guarantee that we continue to meet our long term objectives," he said in the interview published on Thursday.

 

[tommy271]

PM has 'tough negotiations' in Brussels and Paris

Papandreou to meet with French President Friday following talks with European Council leader

Prime Minister George Papandreou had “tough negotiations” with European Council President Herman Van Rompuy in Brussels on Thursday night before flying to Paris to meet French President Nicolas Sarkozy, the Greek government spokesman told reporters.

Late on Wednesday night, shortly after Papandreou and Van Rompuy finished their talks, the government spokesman Giorgos Petalotis referred to “tough and difficult negotiations that will continue into the future.”

The talks, which lasted about an hour, focused on the economic affairs of Greece and the European Union as well as developments in Libya and the broader North African region where pro-democracy protesters have risen up against several regimes.

On Thursday, Papandreou is to meet Sarkozy in a bid to sway the French leader ahead of a summit of euro zone country leaders on Friday. The summit this week is seen as a precursor for an EU summit on March 25 where Greece is to push for better borrowing terms and an extension to the period granted for the repayments of some 110 billion euros in emergency loans, hence the current flurry of diplomacy.

Addressing his cabinet on Wednesday, Papandreou said he would push for a “comprehensive solution” in Brussels. He said this would demand “tough negotiations” but that Greece was better equipped to fight its corner now than it was a year ago when the extent of its debt crisis first became apparent. Papandreou added that he faced a similarly tough battle at home against certain groups with vested interests “which do not want to change, which do not even want the law to be enforced.” “Our country must change and will change,” Papandreou told his ministers.


ekathimerini.com , Thursday March 10, 2011 (12:33)

 

[tommy271]

Greek cenbanker: 2011 year of mergers for Greek banks






ATHENS, March 10 | Thu Mar 10, 2011 6:21am EST



ATHENS, March 10 (Reuters) - Greece's central banker said on Thursday he expects consolidation moves in the country's banking sector to take place this year as banks seek alliances to deal with the debt crisis.
"(Greek) banks are in a difficult phase because of the fiscal crisis, 2011 will be a year of reshuffling, mergers and cooperation," Bank of Greece head George Provopoulos told reporters at a meeting with President Karolos Papoulias.

 

[tommy271]

Merkel Demands Fiscal Rule Obedience as Competitiveness Accord Resurfaces

By Tony Czuczka and Gregory Viscusi - Mar 10, 2011 12:17 PM GMT+0100 Thu Mar 10 11:17:53 GMT 2011



German Chancellor Angela Merkel said that European Union governments must all adhere to fiscal rules to spur growth, as the EU neared agreement on the text of a plan to raise competitiveness across the region.

Merkel, speaking on the eve of the first of two EU summits that aim to snuff out the euro-area debt crisis, said that German competitiveness is under assault from countries such as China, Brazil and India. Only “if everyone keeps to the rules” will Europe as a whole be able to compete on the global stage.

“It’s important that if we jointly represent Europe, we ensure that this Europe is strong,” Merkel said in a speech late yesterday in Demmin, northern Germany. “We can’t give ourselves rules and then have some repeatedly flouting these rules.”

Merkel’s comments offer no let up in the pressure on debt- wracked states to do more to control runaway deficits even as bond yields in Portugal and Greece touched euro-era records and Spain suffered a credit rating downgrade. Her stance risks deepening rifts with so-called peripheral states as she insists that EU leaders agree to do more to bolster competitiveness at a summit tomorrow rather than step up crisis-fighting efforts.


‘More Blood-Shedding’

“It is clear that the haves envision more blood-shedding ahead than the have nots,” Nick Firoozye, head of interest-rate strategy at Nomura International Plc in London, said in a note.

Spain brought a reminder today that the crisis that forced Greece and Ireland to seek bailouts last year has not gone away. Spanish bond yields rose and the euro fell as Moody’s Investors Service cut Spain’s rating a notch with a negative outlook.

Portugal’s 10-year bond yield touched a euro-era record of 7.7 percent yesterday, one day after Greek 10-year yields jumped 50 basis points to a record 12.83 percent.

The European Central Bank also issued a warning today that euro-area governments’ commitment “to fully adhere to the letter and the spirit” of the region’s fiscal rule book “may be weakening.”

“In these times of high uncertainty, governments have yet to demonstrate convincingly the seriousness of their consolidation promises,” the ECB said in its monthly report.



Competitiveness Plans


The EU is close to agreeing on the final wording of a reworked plan to be put to tomorrow’s summit to raise the region’s competitiveness and tighten economic cooperation, two French government officials said in Paris yesterday.

The pact, which includes chapters on competitiveness, labor, sustainability of public finances and the stability of financial systems, sets objectives rather than binding targets, leaving countries free as to how they reach them, the officials said on condition of anonymity because the negotiations are not public.

The plan aims to attract more support than a so-called competitiveness pact proposed by Merkel and French President Nicolas Sarkozy on Feb. 4 that quickly ran into opposition. Luxembourg and Belgium rejected suggestions they might be forced to scrap wage-indexation policies that automatically lift workers’ salaries in line with inflation.

A draft of the reworked document dated Feb. 25 refers only to an “improved” indexation mechanism. While governments should be “more ambitious” in curbing fiscal deficits, a core German demand, they are under no obligation to follow Germany’s “debt brake” anchored in law, it said.



Corporate Tax Rates


The draft also shied away from harmonized tax rates, a proposal already rejected by the new Irish Prime Minister Enda Kenny, in favor of moves to develop a “common consolidated corporate tax base.” The EU will unveil its proposals on a corporate tax base on March 16, the French officials said.

Dutch Finance Minister Jan Kees de Jager said separately yesterday that he expects euro-region countries to make fresh financing pledges to allow the euro rescue fund to lend its full 440 billion euro ($612 billion) capacity while maintaining its AAA credit rating.

De Jager told parliament in The Hague that he expects the so-called second-line guarantees to be about 75 percent of the commitments the Netherlands and other euro-area states provided last year to create the aid facility, known as the European Financial Stability Facility.

No decisions on the EFSF will be made until the second EU crisis-fighting summit on March 24-25, according to the French officials.


Hopes ‘Dashed’


As the clock ticks toward the EU’s end-of-March deadline, the measures leaders are likely to take may be “not sufficient to put a permanent stop to the euro-area debt crisis and we see more market tension ahead,” said Michala Marcussen, head of global economics at Societe Generale SA in London.

Governments should consider allowing bond buybacks to ease euro countries’ debt loads, the German Bankers’ Association said in a statement today. The EFSF could buy sovereign bonds in the secondary market or give loans to allow governments to buy them back, the group said.

“It would be an illusion to believe that one can clean up the situation in one fell swoop,” said Michael Kemmer, the association’s acting head. A “long road” lies ahead that requires commitments “not just by highly indebted countries, but the EU and euro countries as a whole.”

 

[ferdo]

che Caporetto oggi

 

[tommy271]

che Caporetto oggi

Dove?
Nel pollaio di casa?

 

[tommy271]

Greek Finance Minister Says Moody’s Downgrade Badly Timed

March 10, 2011, 7:04 AM EST

By Natalie Weeks and Paul Tugwell
(Adds minister’s comments in second, final paragraphs.)




March 10 (Bloomberg) -- Greek Finance Minister George Papaconstantinou said the country’s recent downgrade by Moody’s Investors Service was “inexcusable” and ignored positive prospects as Greece implements its economic reform plan.
The downgrade wasn’t based on a “balanced review of economic conditions Greece faces” and its extent and timing are “incomprehensible and raise serious questions,” Papaconstantinou said
The criticisms are contained in a letter sent to European Central Bank President Jean-Claude Trichet, Luxembourg Prime Minister Jean-Claude Juncker, who also chairs the panel of euro- area finance ministers, European Union Monetary Affairs Commissioner Olli Rehn and Financial Services Commissioner Michel Barnier.
Moody’s cut Greece’s sovereign debt rating three notches to B1 on March 7, a day before the country sold 1.625 billion euros ($2.246 billion) of 26-week treasury bills. Moody’s cited “materially increased” risk of a default. The Greek finance ministry called the move “completely unjustified.”
Papaconstantinou said many reforms have been implemented and moves such as the downgrade can make Greece’s course harder.
The government is imposing harsh austerity measures as part of terms agreed in exchange for a 110 billion-euro bailout from the EU and the International Monetary Fund last May to avoid a default. The aim is to bring the budget shortfall to 1 percent of gross domestic product in 2015.


Budget Deficit


The shortfall was cut to 9.4 percent of gross domestic product last year after reaching a euro-area record of 15.4 percent in 2009. The government is targeting a 7.4 percent deficit this year. Greece’s economy is forecast to shrink 3 percent, after a 4.5 percent drop last year, before returning to growth in 2012, according to finance ministry data.
“The downgrade by Moody’s is more indicative of the twisted motives and the lack of accountability of rating agencies rather that the true state of the Greek economy,” Papaconstantinou said in the letter.
EU leaders and finance ministers should examine “effective” regulation of ratings companies at this “particularly sensitive time for the world economy and markets,” as such moves are dangerous, he added.

 

[ferdo]

Dove?
Nel pollaio di casa?

no sui book:
2014 in dirittura dei 70
2017 vede il 59 in denaro
2019 denaro a 63
siamo ai livelli di corporate distressed rating CCC o perpetual un anno fa pre Basilea

 

[tommy271]

no sui book:
2014 in dirittura dei 70
2017 vede il 59 in denaro
2019 denaro a 63
siamo ai livelli di corporate distressed rating CCC o perpetual un anno fa pre Basilea

Sui book con il denaro da 1 K, possono divertirsi come vogliono.
Come, ad esempio, riempire i cinque livelli con 1K...
La situazione a livello di spread è stabile.