Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1

Stato
Chiusa ad ulteriori risposte.
Greek PM: Ratings agencies running our lives


ATHENS, Greece (AP) — Greece's prime minister has lashed out at credit ratings agencies, as borrowing rates in the crisis-hit country at record levels threaten plans to return to the bond markets next year.
George Papandreou in a written statement posted on a government website early Friday said the agencies, instead of elected governments, "are seeking to shape our destiny and determine the future of our children."
Major rating agencies have all relegated Greek bond status to below investment grade amid the continuing debt crisis. The move has angered the government which argues the fiscal benefits of its austerity program are being ignored.
Yields on 10-year Greek bonds rose above 15 percent, compared with the German benchmark rate of 3.27 percent, before the Easter long weekend.


(Associated Presse)
 
IL SOLE 24 ore di oggi.pag.8

1303474650regr.jpg
 
In allegato il report completo di UBS

Consequences of a Greek debt restructuring
• We believe that Greece may need to restructure its debt by 2012,
but we can imagine that political dynamics may already trigger such
an event as early as this summer.
• We think that the ultimate recovery values of Greek government
bonds may be around 40% but highlight that bonds may drop to
levels around 25% following the announcement of a restructuring
decision. Therefore, we maintain our Sell recommendation as we
think bonds can lose much more from current levels.
• A restructuring would trigger renewed pressure on other weaker
countries and the still fragile European banking system. We discuss
the most exposed European banks in this note and try to identify
possible further contagion effects.
 

Allegati

Ultima modifica di un moderatore:
Stato
Chiusa ad ulteriori risposte.

Users who are viewing this thread

Back
Alto