tommy271
Forumer storico
L'ottimismo di Alessandro Fugnoli:
http://www.kairospartners.com/drupal/sites/default/files/newsletter/Sakura-RN-07.04.11.pdf
http://www.kairospartners.com/drupal/sites/default/files/newsletter/Sakura-RN-07.04.11.pdf
Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (13 lettori)
- Creatore Discussione Imark
- Data di Inizio
- Stato
mago gambamerlo
Xx Phuket xX
Quindi UE & IMF ci schiantano u pilu e poi lasciano spazio a ristrutturazioni ? anche BBC l' altro giorno rilasciava interviste piuttosto negative ... quasi di parte ! vediamo !
tommy271
Forumer storico
Euro amplia brevemente perdite su dollaro dopo commenti Trichet
giovedì 7 aprile 2011 14:56
NEW YORK, 7 aprile (Reuters) - L'euro ha ampliato brevemente le perdite contro il dollaro, in un mercato volatile, dopo che il presidente della Banca centrale europea Jean-Claude Trichet ha detto che "la politica monetaria è ancora molto accomodante".
L'euro è sceso fino a quota 1,4266 dollari EUR=, ma ha presto recuperato e, intorno alle 14,55 cede lo 0,31% a 1,4289 dollari.
ORE 14,55 CHIUSURA
EURO/DOLLARO EUR= 1,4289/91 1,4334 DOLLARO/YEN JPY= 85,32/35 85,43
EURO/YEN EURJPY= 121,92/95 122,43
EURO/STERLINA EURGBP= 0,8763/66 0,8777
ORO SPOT XAU= 1.457,27/8,04 1.457,00/8,00
giovedì 7 aprile 2011 14:56
NEW YORK, 7 aprile (Reuters) - L'euro ha ampliato brevemente le perdite contro il dollaro, in un mercato volatile, dopo che il presidente della Banca centrale europea Jean-Claude Trichet ha detto che "la politica monetaria è ancora molto accomodante".
L'euro è sceso fino a quota 1,4266 dollari EUR=, ma ha presto recuperato e, intorno alle 14,55 cede lo 0,31% a 1,4289 dollari.
ORE 14,55 CHIUSURA
EURO/DOLLARO EUR= 1,4289/91 1,4334 DOLLARO/YEN JPY= 85,32/35 85,43
EURO/YEN EURJPY= 121,92/95 122,43
EURO/STERLINA EURGBP= 0,8763/66 0,8777
ORO SPOT XAU= 1.457,27/8,04 1.457,00/8,00
tommy271
Forumer storico
Exclusive: Greece 2010 deficit tops 10 pct, faces more austerity
By Ingrid Melander
ATHENS | Thu Apr 7, 2011 8:16am EDT
ATHENS (Reuters) - Greece's 2010 budget deficit was bigger than estimated at over 10 percent of GDP, heralding yet more austerity measures, a source close to the country's international lenders told Reuters on Thursday.
The revision will heap another fiscal burden on a government already struggling to avoid a debt restructuring after missing some targets of an EU/IMF bailout, just as Portugal's decision to seek EU aid sharpens investors' focus on the euro zone crisis.
The government's most recent estimate of last year's deficit was 9.4 percent of economic output, while its lenders -- the 'troika' of European Commission, IMF and ECB -- saw it at 9.6 percent. The initial target was about 8 percent of GDP.
"The revision will make it more difficult for Greece to achieve its 2011 budget targets. They will have to save more," said Christoph Weil, Frankfurt-based economist at Commerzbank.
"The EU/IMF safety net for Greece will probably have to be beefed up," he said. "In the long term, this can't be done without restructuring, in 2013 or later."
In Berlin, the leading economic research institutes in euro zone paymaster Germany on Thursday agreed a restructuring would be needed. Greece, however, has always said restructuring was not an option.
Greece's statistics office ELSTAT sent data to its EU counterpart Eurostat last week, and discussions are ongoing about the exact number for last year's gap, officials said. Eurostat is due to publish its estimate on April 26.
"It is clearly above 10 percent," the official close to the troika said of last year's deficit, after Athens discussed the figure with its lenders during an inspection visit this week. "This will require action because of spillover effects."
RESTRUCTURING FEAR
Although some EU senior government officials now privately say Greece may eventually have to restructure its debt, sharing the views of many economists, the EU and the IMF have repeatedly ruled it out.
An opinion poll showed on Thursday about 55 percent of Greeks asked expected a restructuring.
Athens is working on measures to compensate for a revenue shortfall in the first two months of the year and to make savings of 8 percent of GDP in 2012-2014.
EU and IMF inspectors visiting Greece this week concluded it had made good progress in identifying measures but needed to flesh them out and provide aggregate estimates of their impact ahead of the adoption of the plan by the cabinet mid-April and parliament mid-May, the official said.
The revision will require even more efforts, analysts said, adding that this could prove difficult for the government facing not only social resistance but criticism from within as it struggles to regain market confidence and return to bond markets as early as this year.
"Further austerity measures will be politically difficult for the government ... it is likely to increase volume of protests within the (ruling) PASOK party," said Diego Iscaro, at IHS Global Insight.
With its 230 billion euro economy in its third straight year of recession, generating revenue growth to further cut the deficit is proving difficult. The economy is expected to contract 3 percent this year after a 4.5 percent slump in 2010.
"When you are in a big recession, the danger is making the problem worse and the recession last longer ... but I don't think they will have any other option," Iscaro said.
Asked about reports that the final 2010 deficit figure could range between 10.4 and 10.7 percent of GDP, the source close to the troika said: "This is exactly where we stand now with ELSTAT, but the (Finance) Ministry believes it can be brought lower."
Finance Minister George Papaconstantinou said last week that the deficit would be higher than originally estimated but he gave no figure. The ministry declined comment on Thursday.
At the end of 2009, a much bigger revision of the deficit triggered the crisis that brought Greece close to bankruptcy and shook the euro zone, spilling over to Ireland and Portugal.
In October 2009, the new Socialist government estimated the 2009 deficit at 12.7 percent of GDP, more than double the previous administration's estimate. It has since been revised to 15.4 percent of GDP.
By Ingrid Melander
ATHENS | Thu Apr 7, 2011 8:16am EDT
ATHENS (Reuters) - Greece's 2010 budget deficit was bigger than estimated at over 10 percent of GDP, heralding yet more austerity measures, a source close to the country's international lenders told Reuters on Thursday.
The revision will heap another fiscal burden on a government already struggling to avoid a debt restructuring after missing some targets of an EU/IMF bailout, just as Portugal's decision to seek EU aid sharpens investors' focus on the euro zone crisis.
The government's most recent estimate of last year's deficit was 9.4 percent of economic output, while its lenders -- the 'troika' of European Commission, IMF and ECB -- saw it at 9.6 percent. The initial target was about 8 percent of GDP.
"The revision will make it more difficult for Greece to achieve its 2011 budget targets. They will have to save more," said Christoph Weil, Frankfurt-based economist at Commerzbank.
"The EU/IMF safety net for Greece will probably have to be beefed up," he said. "In the long term, this can't be done without restructuring, in 2013 or later."
In Berlin, the leading economic research institutes in euro zone paymaster Germany on Thursday agreed a restructuring would be needed. Greece, however, has always said restructuring was not an option.
Greece's statistics office ELSTAT sent data to its EU counterpart Eurostat last week, and discussions are ongoing about the exact number for last year's gap, officials said. Eurostat is due to publish its estimate on April 26.
"It is clearly above 10 percent," the official close to the troika said of last year's deficit, after Athens discussed the figure with its lenders during an inspection visit this week. "This will require action because of spillover effects."
RESTRUCTURING FEAR
Although some EU senior government officials now privately say Greece may eventually have to restructure its debt, sharing the views of many economists, the EU and the IMF have repeatedly ruled it out.
An opinion poll showed on Thursday about 55 percent of Greeks asked expected a restructuring.
Athens is working on measures to compensate for a revenue shortfall in the first two months of the year and to make savings of 8 percent of GDP in 2012-2014.
EU and IMF inspectors visiting Greece this week concluded it had made good progress in identifying measures but needed to flesh them out and provide aggregate estimates of their impact ahead of the adoption of the plan by the cabinet mid-April and parliament mid-May, the official said.
The revision will require even more efforts, analysts said, adding that this could prove difficult for the government facing not only social resistance but criticism from within as it struggles to regain market confidence and return to bond markets as early as this year.
"Further austerity measures will be politically difficult for the government ... it is likely to increase volume of protests within the (ruling) PASOK party," said Diego Iscaro, at IHS Global Insight.
With its 230 billion euro economy in its third straight year of recession, generating revenue growth to further cut the deficit is proving difficult. The economy is expected to contract 3 percent this year after a 4.5 percent slump in 2010.
"When you are in a big recession, the danger is making the problem worse and the recession last longer ... but I don't think they will have any other option," Iscaro said.
Asked about reports that the final 2010 deficit figure could range between 10.4 and 10.7 percent of GDP, the source close to the troika said: "This is exactly where we stand now with ELSTAT, but the (Finance) Ministry believes it can be brought lower."
Finance Minister George Papaconstantinou said last week that the deficit would be higher than originally estimated but he gave no figure. The ministry declined comment on Thursday.
At the end of 2009, a much bigger revision of the deficit triggered the crisis that brought Greece close to bankruptcy and shook the euro zone, spilling over to Ireland and Portugal.
In October 2009, the new Socialist government estimated the 2009 deficit at 12.7 percent of GDP, more than double the previous administration's estimate. It has since been revised to 15.4 percent of GDP.
tommy271
Forumer storico
Trichet Fails To Categorically Rule Out Greece Restructuring
By Market News International || April 7, 2011 at 13:55 GMT
FRANKFURT (MNI) – European Central Bank President Jean-Claude
Trichet failed to categorically rule out a restructuring of Greek debt
down the road.
Asked whether he was concerned Greece might not be able to tap the
markets again next year and could face a risk of restructuring, Trichet
said: “For me, we have a plan and until the plan is changed we apply the plan.”
“It is clear that countries that had in the first years of the euro
area a behavior which was unsound, have to engage in a correction,”
Trichet said.
“Whatever is the overall environment, they have to correct what was
done in the past that was wrong. This is true for all that had abnormal behavior which was the case for the country that you mentioned,” Trichet added.
By Market News International || April 7, 2011 at 13:55 GMT
FRANKFURT (MNI) – European Central Bank President Jean-Claude
Trichet failed to categorically rule out a restructuring of Greek debt
down the road.
Asked whether he was concerned Greece might not be able to tap the
markets again next year and could face a risk of restructuring, Trichet
said: “For me, we have a plan and until the plan is changed we apply the plan.”
“It is clear that countries that had in the first years of the euro
area a behavior which was unsound, have to engage in a correction,”
Trichet said.
“Whatever is the overall environment, they have to correct what was
done in the past that was wrong. This is true for all that had abnormal behavior which was the case for the country that you mentioned,” Trichet added.
tommy271
Forumer storico
Former Greek FM says Athens was told to seek IMF aid in 2004, but feared political cost
By The Associated Press – 21 minutes ago
ATHENS, Greece — Debt-crippled Greece was urged by its European partners to seek aid from the International Monetary Fund as early as 2004, but its conservative government procrastinated so it could extend its political survival, a former finance minister said.
In an interview published Thursday, former minister George Alogoskoufis said that former Prime Minister Costas Karamanlis was aware of his nation's dire economic situation. His comments came amid the latest Greek strike against austerity measures, this one by journalists.
"Karamanlis knew, saw the situation and made efforts," Alogoskoufis was quoted as telling the To Vima newspaper. "But he was under political pressure. You see, he had a slender majority in Parliament. He simply told me: 'leave it for later.' He was fully aware of exactly what was happening in the economy."
After the current Socialists swept to power in late 2009, Greece's finances rapidly collapsed amid revelations of years of wildly inaccurate data reporting, a runaway deficit and public debt. Dizzy interest rates combined with repeated downgrades of the country's creditworthiness forced Prime Minister George Papandreou to seek an international bailout in May 2010.
The €110 billion ($157 billion) EU and IMF rescue loans are intended to keep Greece solvent until mid-2013, but, despite government protestations, many analysts expect some kind eventual debt restructuring. In return for the bailout, the Socialists passed harsh austerity measures, slashing pensions and civil service salaries while raising taxes and retirement ages amid a recession and growing unemployment.
Alogoskoufis, a professor of economics who held the finance portfolio from 2004-2009, said the conservatives inherited the country's finances in a bad shape from the Socialists — a charge the current government reciprocates.
The Socialists' austerity package has been met with frequent demonstrations and strikes by everyone from lawyers and doctors to bakers and port workers. On Thursday, Greek journalists walked off the job for four days to protest job and pay cuts.
Until early Monday, no television or radio news programs are to be broadcast, news websites will not be updated. No newspapers or magazines will be published until Tuesday.
EU and IMF officials are in Athens to review the country's adherence to the conditions for its bailout and its implementation of austerity measures.
Greece has pledged to reduce its deficit from 15.4 per cent of gross domestic product in 2009 to below the 3 per cent eurozone limit by 2014. However, it has been slipping from some of its targets under the bailout plan, with particular problems in collecting revenue like taxes.
Finance Minister George Papaconstantinou has said deficit figures for 2010, to be announced April 26, are likely to be higher than the 9.4 per cent of GDP officially predicted. Media estimates have put it as high as 10.6 per cent.
By The Associated Press – 21 minutes ago
ATHENS, Greece — Debt-crippled Greece was urged by its European partners to seek aid from the International Monetary Fund as early as 2004, but its conservative government procrastinated so it could extend its political survival, a former finance minister said.
In an interview published Thursday, former minister George Alogoskoufis said that former Prime Minister Costas Karamanlis was aware of his nation's dire economic situation. His comments came amid the latest Greek strike against austerity measures, this one by journalists.
"Karamanlis knew, saw the situation and made efforts," Alogoskoufis was quoted as telling the To Vima newspaper. "But he was under political pressure. You see, he had a slender majority in Parliament. He simply told me: 'leave it for later.' He was fully aware of exactly what was happening in the economy."
After the current Socialists swept to power in late 2009, Greece's finances rapidly collapsed amid revelations of years of wildly inaccurate data reporting, a runaway deficit and public debt. Dizzy interest rates combined with repeated downgrades of the country's creditworthiness forced Prime Minister George Papandreou to seek an international bailout in May 2010.
The €110 billion ($157 billion) EU and IMF rescue loans are intended to keep Greece solvent until mid-2013, but, despite government protestations, many analysts expect some kind eventual debt restructuring. In return for the bailout, the Socialists passed harsh austerity measures, slashing pensions and civil service salaries while raising taxes and retirement ages amid a recession and growing unemployment.
Alogoskoufis, a professor of economics who held the finance portfolio from 2004-2009, said the conservatives inherited the country's finances in a bad shape from the Socialists — a charge the current government reciprocates.
The Socialists' austerity package has been met with frequent demonstrations and strikes by everyone from lawyers and doctors to bakers and port workers. On Thursday, Greek journalists walked off the job for four days to protest job and pay cuts.
Until early Monday, no television or radio news programs are to be broadcast, news websites will not be updated. No newspapers or magazines will be published until Tuesday.
EU and IMF officials are in Athens to review the country's adherence to the conditions for its bailout and its implementation of austerity measures.
Greece has pledged to reduce its deficit from 15.4 per cent of gross domestic product in 2009 to below the 3 per cent eurozone limit by 2014. However, it has been slipping from some of its targets under the bailout plan, with particular problems in collecting revenue like taxes.
Finance Minister George Papaconstantinou has said deficit figures for 2010, to be announced April 26, are likely to be higher than the 9.4 per cent of GDP officially predicted. Media estimates have put it as high as 10.6 per cent.
IL MARATONETA
Forumer storico
comevolevasidimostrare
ATHENS (Reuters) - Greece's 2010 budget deficit was bigger than estimated at over 10 percent of GDP, heralding yet more austerity measures, a source close to the country's international lenders told Reuters on Thursday.
The revision will heap another fiscal burden on a government already struggling to avoid a debt restructuring after missing some targets of an EU/IMF bailout, just as Portugal's decision to seek EU aid sharpens investors' focus on the euro zone crisis
ATHENS (Reuters) - Greece's 2010 budget deficit was bigger than estimated at over 10 percent of GDP, heralding yet more austerity measures, a source close to the country's international lenders told Reuters on Thursday.
The revision will heap another fiscal burden on a government already struggling to avoid a debt restructuring after missing some targets of an EU/IMF bailout, just as Portugal's decision to seek EU aid sharpens investors' focus on the euro zone crisis
tommy271
Forumer storico
Seconda giornata positiva per la Borsa di Atene che mette a segno un + 1,54% a 1552 punti. Volumi normali di scambio a 113 MLN.
Gli spread invece perdono quei pochi punti risicati di guadagno e ritornano a 945 pb. Sempre comunque stabili nel trading range abituale.
Certamente tutte queste notizie di "ristrutturazioni" non aiutano gli sforzi dell'esecutivo ellenico.
Gli spread invece perdono quei pochi punti risicati di guadagno e ritornano a 945 pb. Sempre comunque stabili nel trading range abituale.
Certamente tutte queste notizie di "ristrutturazioni" non aiutano gli sforzi dell'esecutivo ellenico.
tommy271
Forumer storico
ATHENS (Reuters) - Greece's 2010 budget deficit was bigger than estimated at over 10 percent of GDP, heralding yet more austerity measures, a source close to the country's international lenders told Reuters on Thursday.
The revision will heap another fiscal burden on a government already struggling to avoid a debt restructuring after missing some targets of an EU/IMF bailout, just as Portugal's decision to seek EU aid sharpens investors' focus on the euro zone crisis
Il deficit sarà elevato di quasi un punto rispetto alle previsioni, sarà intorno al 10,5%.
- Stato