tommy271
Forumer storico
Tieni conto che, negli ultimi mesi, i nostri GGB scambiano (ufficialmente) circa 1 MLD al mese.
Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
- Creatore Discussione Imark
- Data di Inizio
- Stato
Tieni conto che, negli ultimi mesi, i nostri GGB scambiano (ufficialmente) circa 1 MLD al mese.
tommy271
Forumer storico
Giub, questo dovresti chiederlo ai detentori di sub. delle bank irish
tommy271
Forumer storico
Ex-PM says Greece should restructure debt: report
ATHENS | Sat Apr 16, 2011 4:14pm EDT
ATHENS (Reuters) - Greece should restructure its debt soon to help rebuild its economy, former Socialist Prime Minister Costas Simitis was quoted as saying on Saturday.
There is growing speculation that the euro zone member will eventually need to restructure its debt, despite official denials, and that Germany, the European Union's wealthiest member, is working on such a plan.
"A well-prepared restructuring will essentially improve our situation," Simitis told To Vima newspaper in an interview. "As long as it is being delayed, the debt which cannot be restructured gets bigger."
Simitis, chief architect of Greece's entry into the euro in 2001, was expelled from the Socialist PASOK parliamentary group in 2008 for publicly attacking party leader George Papandreou's call for a referendum on the EU's Lisbon Treaty.
Papandreou, now prime minister, has repeatedly ruled out a restructuring.
"The next 15-20 years should be a period when we rebuild a stable economy with optimism and rejoin European developments and not a period of misery when we will be living at the mercy of the world economy's wobbles," Simitis added.
But he stressed that a debt restructuring would not be a panacea, saying Greece should stick to the terms of an EU/IMF bailout and respect EU treatiy rules on public debt and budget deficits.
Greece unveiled plans to sell stakes in key state firms and make additional budget savings on Friday but failed to quell fears of debt restructuring fanned by a German official's comments.
Another Greek newspaper, Kathimerini, quoted unidentified European Commission on Saturday as saying Greece had already raised the issue of extending the maturity of its debt held by private creditors to its EU and IMF lenders.
The EU executive and the ECB rejected its proposal for fear such a move would hurt other European economies, the paper said.
A poll published on Saturday showed the ruling Socialists' support declined slightly from last month, but they still enjoy a lead over conservative opponents despite unpopular austerity.
Public Issue's poll for Kathimerini showed backing for PASOK stood at 33.5 percent versus 27 percent for the opposition conservatives.
According to a Kapa Research poll conducted for To Vima and also released on Saturday, some 21.7 percent of Greeks would vote for PASOK, if elections were held now, versus 20.1 percent for the main opposition New Democracy party.
That poll also showed 41.5 percent of respondents believe a debt restructuring is likely to happen in the next two years.
ATHENS | Sat Apr 16, 2011 4:14pm EDT
ATHENS (Reuters) - Greece should restructure its debt soon to help rebuild its economy, former Socialist Prime Minister Costas Simitis was quoted as saying on Saturday.
There is growing speculation that the euro zone member will eventually need to restructure its debt, despite official denials, and that Germany, the European Union's wealthiest member, is working on such a plan.
"A well-prepared restructuring will essentially improve our situation," Simitis told To Vima newspaper in an interview. "As long as it is being delayed, the debt which cannot be restructured gets bigger."
Simitis, chief architect of Greece's entry into the euro in 2001, was expelled from the Socialist PASOK parliamentary group in 2008 for publicly attacking party leader George Papandreou's call for a referendum on the EU's Lisbon Treaty.
Papandreou, now prime minister, has repeatedly ruled out a restructuring.
"The next 15-20 years should be a period when we rebuild a stable economy with optimism and rejoin European developments and not a period of misery when we will be living at the mercy of the world economy's wobbles," Simitis added.
But he stressed that a debt restructuring would not be a panacea, saying Greece should stick to the terms of an EU/IMF bailout and respect EU treatiy rules on public debt and budget deficits.
Greece unveiled plans to sell stakes in key state firms and make additional budget savings on Friday but failed to quell fears of debt restructuring fanned by a German official's comments.
Another Greek newspaper, Kathimerini, quoted unidentified European Commission on Saturday as saying Greece had already raised the issue of extending the maturity of its debt held by private creditors to its EU and IMF lenders.
The EU executive and the ECB rejected its proposal for fear such a move would hurt other European economies, the paper said.
A poll published on Saturday showed the ruling Socialists' support declined slightly from last month, but they still enjoy a lead over conservative opponents despite unpopular austerity.
Public Issue's poll for Kathimerini showed backing for PASOK stood at 33.5 percent versus 27 percent for the opposition conservatives.
According to a Kapa Research poll conducted for To Vima and also released on Saturday, some 21.7 percent of Greeks would vote for PASOK, if elections were held now, versus 20.1 percent for the main opposition New Democracy party.
That poll also showed 41.5 percent of respondents believe a debt restructuring is likely to happen in the next two years.
tommy271
Forumer storico
Inflation at 4.3% in March
BRUSSELS (ANA-MPA) -- Greece's annual inflation rate rose to 4.3 pct in March from 4.2 pct in February, Eurostat announced on Friday.
The EU executive's statistics agency, in a report, said the inflation rate in the Eurozone rose to 2.7 pct in March from 2.4 pct in February, sharply up from 1.6 pct in March 2010. In the EU-27, the inflation rate rose to 3.1 pct from 2.9 pct and 2.0 pct over the same periods, respectively.
Ireland (1.2 pct), Sweden (1.4 pct) and Czech Republic (1.9 pct) recorded the lowest inflation rates in March, while Romania (8.0 pct), Estonia (5.1 pct), Bulgaria and Hungary (4.6 pct each) recorded the highest inflation rates. The inflation rate rose in 18 member-states, it was unchanged in five and fell in fourh member-states in March.
(ana.gr)
BRUSSELS (ANA-MPA) -- Greece's annual inflation rate rose to 4.3 pct in March from 4.2 pct in February, Eurostat announced on Friday.
The EU executive's statistics agency, in a report, said the inflation rate in the Eurozone rose to 2.7 pct in March from 2.4 pct in February, sharply up from 1.6 pct in March 2010. In the EU-27, the inflation rate rose to 3.1 pct from 2.9 pct and 2.0 pct over the same periods, respectively.
Ireland (1.2 pct), Sweden (1.4 pct) and Czech Republic (1.9 pct) recorded the lowest inflation rates in March, while Romania (8.0 pct), Estonia (5.1 pct), Bulgaria and Hungary (4.6 pct each) recorded the highest inflation rates. The inflation rate rose in 18 member-states, it was unchanged in five and fell in fourh member-states in March.
(ana.gr)
tommy271
Forumer storico
Berlin denies secret plans for Greek restructuring
German Finance Ministry responds to Financial Times report
.
The German finance ministry on Saturday denied it was drawing up contingency plans for a Greek debt restructuring, according to Reuters, after the Financial Times reported the ministry was studying various options if Athens fails to meet its fiscal targets.
"There have been media reports today regarding German plans for Greek sovereign debt restructuring. These plans have no basis in reality,» said Martin Kotthaus, spokesman for Finance Minister Wolfgang Schaeuble, in a written statement sent on Saturday.
Citing people briefed about Berlin's thinking, the FT wrote on Saturday that one plan involved swapping Greek debt at market prices for paper guaranteed by the eurozone, similar to «Brady Bonds» issued by South American countries in the late 1980s.
The other main option, the report said, entailed providing debt relief assistance by buying bonds from investors and then retiring the debt or extending their maturities -- a plan akin to the International Monetary Fund's Heavily Indebted Poor Countries (HIPC) initiative.
"The government has long since started preparing for a Greek restructuring,» the FT quoted one person briefed as saying.
"It's not pushing Greece into this. It knows that none of these plans will work if the Greeks don't want them."
The report said other options were also being considered but chancellery and finance ministry officials had spent time analysing these «market friendly» options. Leading voices in the German government believe a Greek debt restructuring is highly probable, people involved in the discussions have told Reuters.
The German chancellery declined to comment on the FT report, referring all media inquiries on the matter to the finance ministry.
In June the IMF, European Central Bank and European Commission will examine whether Greece has met the prerequisites to receive the next tranche of its 110 billion euro bailout package
ekathimerini.com , Saturday April 16, 2011 (22:12)
***
Ad ogni modo le opzioni sono tante, ma se i greci non vogliono ... c'è poco da fare.
L'ultima parola spetta a loro...
German Finance Ministry responds to Financial Times report
"There have been media reports today regarding German plans for Greek sovereign debt restructuring. These plans have no basis in reality,» said Martin Kotthaus, spokesman for Finance Minister Wolfgang Schaeuble, in a written statement sent on Saturday.
Citing people briefed about Berlin's thinking, the FT wrote on Saturday that one plan involved swapping Greek debt at market prices for paper guaranteed by the eurozone, similar to «Brady Bonds» issued by South American countries in the late 1980s.
The other main option, the report said, entailed providing debt relief assistance by buying bonds from investors and then retiring the debt or extending their maturities -- a plan akin to the International Monetary Fund's Heavily Indebted Poor Countries (HIPC) initiative.
"The government has long since started preparing for a Greek restructuring,» the FT quoted one person briefed as saying.
"It's not pushing Greece into this. It knows that none of these plans will work if the Greeks don't want them."
The report said other options were also being considered but chancellery and finance ministry officials had spent time analysing these «market friendly» options. Leading voices in the German government believe a Greek debt restructuring is highly probable, people involved in the discussions have told Reuters.
The German chancellery declined to comment on the FT report, referring all media inquiries on the matter to the finance ministry.
In June the IMF, European Central Bank and European Commission will examine whether Greece has met the prerequisites to receive the next tranche of its 110 billion euro bailout package
ekathimerini.com , Saturday April 16, 2011 (22:12)
***
Ad ogni modo le opzioni sono tante, ma se i greci non vogliono ... c'è poco da fare.
L'ultima parola spetta a loro...
Ultima modifica:
tommy271
Forumer storico
IMF Believes Greece Should Consider Debt Restructuring By 2012
By COSTAS PARIS and IAN TALLEY
WASHINGTON -- The International Monetary Fund believes Greece's debt is unsustainable and has told European government and central bank officials that Athens should consider restructuring by next year, three people familiar with the situation said Saturday.
"The IMF believes the debt situation in Greece is unsustainable," one of those people, who has direct knowledge of the matter, told Dow Jones Newswires. "Senior (IMF) officials have told the parties involved that restructuring should be considered soon," including the European Commission and euro-zone governments.
IMF spokesman William Murray denied the IMF was recommending a restructuring of all Greek debt including that held by private holders, but the IMF has said the fund has considered extending the loan repayment schedule for Athens, a form of restructuring.
"So far we're working with the program as it has been established," IMF Managing Director Dominique Strauss-Kahn said, speaking at a press briefing at the close of spring meetings here.
"For this program to work, we need two things: we need the country to do exactly as we said in the program, even if it's difficult," Mr. Strauss-Kahn said of Greece. "We also need our partners, namely the Europeans, to also do their homework in terms of crisis management."
Greece Finance Minister George Papaconstantinou said Greece isn't looking to restructure its debt. "The pain and cost of restructuring would be bigger than the benefits," he said at the spring meetings of the IMF. "Restructuring is not the position of the Greek government."
A second official familiar with the situation said a number of senior euro-zone officials, including finance ministers, have told the European Central Bank that they believe a restructuring of Greek debt will be necessary, but the response was that "such issues should not be discussed in the open."
"The ECB is flatly against any form of restructuring because of contagion fears. France is also against it," the second official said.
The first official said the IMF believes Greek bond maturities must be "substantially extended as a minimum first step." Reducing the principal that Athens must pay to its creditors may also have to be explored, the official said.
The IMF will most likely extend the repayment period of the around EUR30 billion it gave to Greece from three to seven years to align with the extension granted by the euro zone last month, the second official said.
The IMF has said it is open to moving its Greek loan program from its stand-by lending facility, which usually has a three-year repayment schedule, to its extended fund facility, which is for repayments up to 10 years. The board hasn't voted on the transition, but an IMF official said members are aware of negotiations and open to the proposal.
The extended fund facility was used by Argentina. Such a rescheduling of debt payments is essentially a type of restructuring.
"There is no other policy tool to get the debt sustainable except restructuring, unless you come out of the euro, which is extremely costly," said a second IMF official. He said the situation has gotten to the point where the IMF can no longer sign off on its quarterly review of its Greek program because it is difficult to say whether the debt is sustainable.
"Going into a soft restructuring you have to do it in away that the Greek banks are still solvent" because they still hold a significant portion--around EUR80 billion--of Greek sovereign debt, as does the ECB, the second IMF official said. But the policy instinct will be to lower the lending rates and reschedule the maturity for both the official sector debt--including the IMF and European Union loans--and the market's debt to spread the pain around, he added.
This IMF position would be a change from its stance that Greece will be able to recover if it strictly adheres to a multiyear austerity program in return for the bailout it received from the IMF and euro-zone partners last year.
The first official said euro-zone governments believe Greece will likely tap the European Financial Stability Facility next year to service its debt repayments as it will be unable to return to bond markets. Greece has to raise about €30 billion through long-term issuance.
Greece's entire debt at the end of last year was about €340 billion ($490 billion). About €80 billion is held by Greek banks and funds, and €50 billion by the ECB. The EU and the IMF have so far given the country about €50 billion as part of the €110 billion bailout loan.
The scenario to be examined first will involve extending debt repayments by as much as 30 years, the first official said, where private bondholders could be offered new bonds in exchange for old bonds with the same coupon, but with a longer maturity. Another scenario could involve reducing Greece's coupon payments and extending maturity dates.
The European Commission, the EU's executive arm, is conducting a "sustainability review" with the IMF and aims to complete it in late spring or early summer, EU economics commissioner Olli Rehn told Dow Jones on Friday. This review is a normal part of the commission's quarterly economic assessments, but "this time it is of particular importance," Rehn said.
MF Believes Greece Should Consider Debt Restructuring By 2012 - WSJ.com
By COSTAS PARIS and IAN TALLEY
WASHINGTON -- The International Monetary Fund believes Greece's debt is unsustainable and has told European government and central bank officials that Athens should consider restructuring by next year, three people familiar with the situation said Saturday.
"The IMF believes the debt situation in Greece is unsustainable," one of those people, who has direct knowledge of the matter, told Dow Jones Newswires. "Senior (IMF) officials have told the parties involved that restructuring should be considered soon," including the European Commission and euro-zone governments.
IMF spokesman William Murray denied the IMF was recommending a restructuring of all Greek debt including that held by private holders, but the IMF has said the fund has considered extending the loan repayment schedule for Athens, a form of restructuring.
"So far we're working with the program as it has been established," IMF Managing Director Dominique Strauss-Kahn said, speaking at a press briefing at the close of spring meetings here.
"For this program to work, we need two things: we need the country to do exactly as we said in the program, even if it's difficult," Mr. Strauss-Kahn said of Greece. "We also need our partners, namely the Europeans, to also do their homework in terms of crisis management."
Greece Finance Minister George Papaconstantinou said Greece isn't looking to restructure its debt. "The pain and cost of restructuring would be bigger than the benefits," he said at the spring meetings of the IMF. "Restructuring is not the position of the Greek government."
A second official familiar with the situation said a number of senior euro-zone officials, including finance ministers, have told the European Central Bank that they believe a restructuring of Greek debt will be necessary, but the response was that "such issues should not be discussed in the open."
"The ECB is flatly against any form of restructuring because of contagion fears. France is also against it," the second official said.
The first official said the IMF believes Greek bond maturities must be "substantially extended as a minimum first step." Reducing the principal that Athens must pay to its creditors may also have to be explored, the official said.
The IMF will most likely extend the repayment period of the around EUR30 billion it gave to Greece from three to seven years to align with the extension granted by the euro zone last month, the second official said.
The IMF has said it is open to moving its Greek loan program from its stand-by lending facility, which usually has a three-year repayment schedule, to its extended fund facility, which is for repayments up to 10 years. The board hasn't voted on the transition, but an IMF official said members are aware of negotiations and open to the proposal.
The extended fund facility was used by Argentina. Such a rescheduling of debt payments is essentially a type of restructuring.
"There is no other policy tool to get the debt sustainable except restructuring, unless you come out of the euro, which is extremely costly," said a second IMF official. He said the situation has gotten to the point where the IMF can no longer sign off on its quarterly review of its Greek program because it is difficult to say whether the debt is sustainable.
"Going into a soft restructuring you have to do it in away that the Greek banks are still solvent" because they still hold a significant portion--around EUR80 billion--of Greek sovereign debt, as does the ECB, the second IMF official said. But the policy instinct will be to lower the lending rates and reschedule the maturity for both the official sector debt--including the IMF and European Union loans--and the market's debt to spread the pain around, he added.
This IMF position would be a change from its stance that Greece will be able to recover if it strictly adheres to a multiyear austerity program in return for the bailout it received from the IMF and euro-zone partners last year.
The first official said euro-zone governments believe Greece will likely tap the European Financial Stability Facility next year to service its debt repayments as it will be unable to return to bond markets. Greece has to raise about €30 billion through long-term issuance.
Greece's entire debt at the end of last year was about €340 billion ($490 billion). About €80 billion is held by Greek banks and funds, and €50 billion by the ECB. The EU and the IMF have so far given the country about €50 billion as part of the €110 billion bailout loan.
The scenario to be examined first will involve extending debt repayments by as much as 30 years, the first official said, where private bondholders could be offered new bonds in exchange for old bonds with the same coupon, but with a longer maturity. Another scenario could involve reducing Greece's coupon payments and extending maturity dates.
The European Commission, the EU's executive arm, is conducting a "sustainability review" with the IMF and aims to complete it in late spring or early summer, EU economics commissioner Olli Rehn told Dow Jones on Friday. This review is a normal part of the commission's quarterly economic assessments, but "this time it is of particular importance," Rehn said.
MF Believes Greece Should Consider Debt Restructuring By 2012 - WSJ.com
ferdo
Utente Senior
Quanto citato sopra è in chiara contraddizione con quanto riportato prima soprattutto sulla sostenibilità del debito:
Transcript of a Press Briefing with IMF European Department Director Antonio Borges
...
Ultima modifica:
tommy271
Forumer storico
Quanto citato sopra è in chiara contraddizione con quanto riportato prima soprattutto sulla sostenibilità del debito:
Transcript of a Press Briefing with IMF European Department Director Antonio Borges
...
Ognuno dice la sua...
giub
New Membro
SI, MA QUELLO è DEBITO "JUNIOR" ed è scritto nella clausola di subordinazione che possono subire tagli di cedole/nominale anche senza default.........i nostri sono senior e il non pagamento di cedole comporta il default...chi gioca con i LOW TIER etc sa che ci sono regole diverse...
ciao
ciao
giub
New Membro
Porello...l'uomo ferito si sta vendicando....ma vedo che il PASOK è tutt'altra cosa (in meglio) rispetto al nostro PD di nota tendenza taffazziana....
- Stato
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