tommy271
Forumer storico
Prenotati.
Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
- Creatore Discussione Imark
- Data di Inizio
- Stato
Prenotati.
giub
New Membro
Penso anch'io...anzi, da quel che si dice aprirà una linea di credito illimitata anche sulle nuove emissioni greche garantite con CW Karlsberg Brauerei.L'Angela ha detto che ha fiducia nella Grecia e nei suoi sforzi, sono sicuro che non avrà problemi a mettere una firmetta.
PS: la Würzburger Hofbräu è già stata data in pegno per garantire i bond irlandesi......
tommy271
Forumer storico
ECB’s Tumpel Says to Be Seen Whether More Greek Measures Due
By Zoe Schneeweiss - May 13, 2011 12:00 PM GMT+0200
Fri May 13 10:00:00 GMT 2011
European Central Bank Executive Board member Gertrude Tumpel-Gugerell said it is to be seen whether additional measures need to be taken on Greece.
As part of its 110 billion-euro ($157 billion) bailout Greece lowered spending, increased taxes and agreed to sell state-owned companies, Tumpel-Gugerell told reporters in Vienna today. “The question is how successful Greece is in levying taxes” and “how Greece has progressed in privatizing state- owned companies,” she said. “If the plan hasn’t quite been reached, then corrections have to be made, then additional measures have to be taken.”
Tumpel-Gugerell said one can “assume” that no new plans would be made for Greece before the results from the current evaluation were presented.
She declined to comment on whether the next tranche of payments to Greece may be delayed on a potential new program, saying “there are some weeks time” before the funds were due. “We are waiting for the results and then one will see what the conclusions are.”
The question whether Greece will be able to refinance itself via the markets is “part of the evaluation that currently is under way,” she said. “I think we should wait for the analysis.”
By Zoe Schneeweiss - May 13, 2011 12:00 PM GMT+0200
Fri May 13 10:00:00 GMT 2011
European Central Bank Executive Board member Gertrude Tumpel-Gugerell said it is to be seen whether additional measures need to be taken on Greece.
As part of its 110 billion-euro ($157 billion) bailout Greece lowered spending, increased taxes and agreed to sell state-owned companies, Tumpel-Gugerell told reporters in Vienna today. “The question is how successful Greece is in levying taxes” and “how Greece has progressed in privatizing state- owned companies,” she said. “If the plan hasn’t quite been reached, then corrections have to be made, then additional measures have to be taken.”
Tumpel-Gugerell said one can “assume” that no new plans would be made for Greece before the results from the current evaluation were presented.
She declined to comment on whether the next tranche of payments to Greece may be delayed on a potential new program, saying “there are some weeks time” before the funds were due. “We are waiting for the results and then one will see what the conclusions are.”
The question whether Greece will be able to refinance itself via the markets is “part of the evaluation that currently is under way,” she said. “I think we should wait for the analysis.”
Grisù
Forumer attivo
First State asset portfolio ready - Troika asks for €6bn of new measures
According to press reports, the first portfolio of assets is prepared, while a second one will follow before year end. The portfolio of assets will be used to attract private investments. The reports claim that in the next few days, the government will be presenting the plan to the Troika. Former ECB VP and currently PM's advisor Papademos said that the assets owned by the State are much bigger than €50bn, but it is a question on how quickly they can be mobilized. Papademos said that the privatization program is both ambitious and realistic, and revealed that further details on it will be announced within the next 10 days. Troika, which currently investigates the implementation of the fiscal consolidation program, reportedly said that the extra measures required for achieving the FY11 targets should be €6bn instead of €3bn the government initially assumed. Note that the Troika is currently meeting with all the Ministers in order to get a clear picture of the implementation of the reforms agreed with the program. Minister of Interior Ragousis, after meeting with the Troika, said that the 1 hiring for every 5 retirements rule will be changed to 1 for 10, in order to further contain public sector costs.
According to press reports, the first portfolio of assets is prepared, while a second one will follow before year end. The portfolio of assets will be used to attract private investments. The reports claim that in the next few days, the government will be presenting the plan to the Troika. Former ECB VP and currently PM's advisor Papademos said that the assets owned by the State are much bigger than €50bn, but it is a question on how quickly they can be mobilized. Papademos said that the privatization program is both ambitious and realistic, and revealed that further details on it will be announced within the next 10 days. Troika, which currently investigates the implementation of the fiscal consolidation program, reportedly said that the extra measures required for achieving the FY11 targets should be €6bn instead of €3bn the government initially assumed. Note that the Troika is currently meeting with all the Ministers in order to get a clear picture of the implementation of the reforms agreed with the program. Minister of Interior Ragousis, after meeting with the Troika, said that the 1 hiring for every 5 retirements rule will be changed to 1 for 10, in order to further contain public sector costs.
giub
New Membro
Nessuno chiede alla Grecia di ripagare il suo debito in pochi mesi....gli si chiede unicamente di non aumentarlo ancora....e per l'anno scorso il deficit era ancora oltre il 10%...inoltre si chiede di rinunciare ai giielli di famiglia....tu rinunceresti a fare il padrone di un'azienda (non tua) che fattura miliardi di euro perchè te lo chiede la Merkel?
Ultima modifica:
tommy271
Forumer storico
EU Commission: Greek Austerity Plan Weighs Heavily On Economy
PARIS (MNI) - The fiscal austerity plan being implemented by Greece is weighing heavily on the country's economy, leading to a sharp decline in consumption, investment, employment and growth, the European Commission said in its Spring Forecasts released Friday.
However, the impact of the budget cuts and higher taxes is already beginning to lighten, the forecasts show. Greek GDP is expected to shrink by 3.5% this year, after a 4.5% slump in 2010, and will return to growth (+1.1%) in 2012, the Commission said.
"In the short term, fiscal tightening will have a strong contraction impact on economic activity, on the back of cuts in public wages, an increasing tax burden and ensuing declining disposable income and public spending," the Commission's report said. "However, credible fiscal adjustment efforts and determined implementation of structural reforms should boost confidence and improve sentiment."
The return to growth will be lead by trade, as exports rise in response to lower wages and imports decline on the back of slumping employment and wages, the Commission predicted. Private domestic consumption will lag growth, contracting by 6.4% this year and by 2.2% in 2012. Business investment is expected to plummet by a whopping 16.6% before flattening out to a more modest -1.9% next year. Public investment is expected to eke out a fractional gain of 0.1% after -2.6% this year.
On the bright side, the squeeze on demand and wages should reduced consumer inflation in Greece quite sharply. HICP is projected at 2.4% this year, after 4.7% in 2010, and expected to decelerate to just 0.5% next year.
"There is evidence of strong downward pressure on labour costs, in particular non-basic pay, as the cuts in public sector wages spill over to the private sector and firms endeavor to recover competitiveness, and to absorb indirect taxes in their margins and costs," the report said.
At the same time, unemployment is on an upward slope, expected to hit 15.2% this year and 15.3% in 2012 after 12.6% last year.
Despite that, the Commission prescribes yet more budget-cutting measures this year, noting that Greece has not met its targets. It noted that Greece's 2010 general government deficit was at 10.5% of GDP, 2.75 percentage points higher than the ceiling set under the terms of its EMU-IMF bailout plan in May of last year.
"The fiscal slippage recorded in 2010 stems from the worse-than-expected revenue performance, only partly compensated for by lower expenditure; the sector reclassification of public enterprises and their inclusion in general government; and the significantly worse-than-estimated fiscal position of social security and local authorities," the Commission noted.
The government deficit is expected to decline only 1 percentage point this year to 9.5%, higher than originally planned, and then only marginally next year to 9.3%, the Commission's forecasts show. The previous projections had put the Greek deficit at 7.6% this year and 7.4% in 2012.
The Commission noted that the upward revision of the 2011 budget deficit forecast stemmed mainly from a first quarter shortfall in tax collection and a downward revision to savings generated by fiscal measures in the state budget.
"While the Government has confirmed its commitment to meet the deficit target, fully recouping the slippage of 2010, it has not yet announced any additional measures. Based on current trends and the budgetary execution so far, additional measures will be needed to ensure that the 2011 deficit ceiling is respected," the Commission said.
(imarketnews.com)
***
Da leggere.
Le previsioni della Commissione Europea.
PARIS (MNI) - The fiscal austerity plan being implemented by Greece is weighing heavily on the country's economy, leading to a sharp decline in consumption, investment, employment and growth, the European Commission said in its Spring Forecasts released Friday.
However, the impact of the budget cuts and higher taxes is already beginning to lighten, the forecasts show. Greek GDP is expected to shrink by 3.5% this year, after a 4.5% slump in 2010, and will return to growth (+1.1%) in 2012, the Commission said.
"In the short term, fiscal tightening will have a strong contraction impact on economic activity, on the back of cuts in public wages, an increasing tax burden and ensuing declining disposable income and public spending," the Commission's report said. "However, credible fiscal adjustment efforts and determined implementation of structural reforms should boost confidence and improve sentiment."
The return to growth will be lead by trade, as exports rise in response to lower wages and imports decline on the back of slumping employment and wages, the Commission predicted. Private domestic consumption will lag growth, contracting by 6.4% this year and by 2.2% in 2012. Business investment is expected to plummet by a whopping 16.6% before flattening out to a more modest -1.9% next year. Public investment is expected to eke out a fractional gain of 0.1% after -2.6% this year.
On the bright side, the squeeze on demand and wages should reduced consumer inflation in Greece quite sharply. HICP is projected at 2.4% this year, after 4.7% in 2010, and expected to decelerate to just 0.5% next year.
"There is evidence of strong downward pressure on labour costs, in particular non-basic pay, as the cuts in public sector wages spill over to the private sector and firms endeavor to recover competitiveness, and to absorb indirect taxes in their margins and costs," the report said.
At the same time, unemployment is on an upward slope, expected to hit 15.2% this year and 15.3% in 2012 after 12.6% last year.
Despite that, the Commission prescribes yet more budget-cutting measures this year, noting that Greece has not met its targets. It noted that Greece's 2010 general government deficit was at 10.5% of GDP, 2.75 percentage points higher than the ceiling set under the terms of its EMU-IMF bailout plan in May of last year.
"The fiscal slippage recorded in 2010 stems from the worse-than-expected revenue performance, only partly compensated for by lower expenditure; the sector reclassification of public enterprises and their inclusion in general government; and the significantly worse-than-estimated fiscal position of social security and local authorities," the Commission noted.
The government deficit is expected to decline only 1 percentage point this year to 9.5%, higher than originally planned, and then only marginally next year to 9.3%, the Commission's forecasts show. The previous projections had put the Greek deficit at 7.6% this year and 7.4% in 2012.
The Commission noted that the upward revision of the 2011 budget deficit forecast stemmed mainly from a first quarter shortfall in tax collection and a downward revision to savings generated by fiscal measures in the state budget.
"While the Government has confirmed its commitment to meet the deficit target, fully recouping the slippage of 2010, it has not yet announced any additional measures. Based on current trends and the budgetary execution so far, additional measures will be needed to ensure that the 2011 deficit ceiling is respected," the Commission said.
(imarketnews.com)
***
Da leggere.
Le previsioni della Commissione Europea.
tommy271
Forumer storico
ELSTAT: Greece’s GDP Decreased By 4.8% In Q1 2011
The Hellenic Statistical Authority (ELSTAT) announced that the Gross Domestic Product for the 1st quarter of 2011 decreased by 4.8 % in comparison with the 1st quarter of 2010 and increased by 0.8 % in comparison with the 4th quarter of 2010, according to available seasonally adjusted data.
The Hellenic Statistical Authority (ELSTAT) announced that the Gross Domestic Product for the 1st quarter of 2011 decreased by 4.8 % in comparison with the 1st quarter of 2010 and increased by 0.8 % in comparison with the 4th quarter of 2010, according to available seasonally adjusted data.
giub
New Membro
non so come sono stati destagionalizzati, ma sarebbe una grande notizia avere qualche segno +
Ultima modifica:
tommy271
Forumer storico
EU calls for more Greek austerity steps in 2011
Fri May 13, 2011 6:41am EDT
* EU wants more budget cuts, revenue measures from Athens
* Greece budget deficit remains above called-for target
* Greek growth up in first quarter, offering some hope
(Adds quotes, background, details)
By Jan Strupczewski
BRUSSELS, May 13 (Reuters) - Greece must take additional steps to consolidate public finances this year because it is missing its deficit reduction targets, EU Economic and Monetary Affairs Commissioner Olli Rehn said on Friday.
Greece is struggling to put its public finances in order under a joint European Union and International Monetary Fund bailout programme under which Athens will get emergency loans of 110 billion euros over three years.
In return for the loans, Greece has committed to bring its budget deficit down to 7.6 percent of gross domestic product this year, 6.5 percent in 2012, 4.9 percent in 2013 and 2.6 percent in 2014.
"Because of weaker than expected growth last year, plus some fiscal slippages, there is need to take additional measures in fiscal consolidation still this year," Rehn told a news conference.
"How much will depend will the assessment on our mission currently in Athens. Yes, definitely there is a need to take further consolidation measures," he said.
The mission, which comprises representatives of the IMF, the European Central Bank and the Commission, is likely to finish work next week. It is also conducting an analysis of Greek debt sustainability, with debts forecast to rise to more than 160 percent of GDP next year.
The European Commission forecast on Friday that unless policies changed, Greece would have a budget deficit of 9.5 percent of GDP this year and 9.3 percent in 2012 -- well above the targets agreed in the EU/IMF programme.
Greek debt would rise to 157.7 percent of gross domestic product this year and to 166.1 percent in 2012, rather than be 145.2 and 148.8 percent as under the EU/IMF plan targets, the Commission forecast.
Rehn called on all political parties in Greece to support the tough austerity and structural reform programme.
Last Wednesday police fired teargas as some 20,000 protesters marched on the parliament as part of a 24-hour nationwide strike against the Socialist government's biting austerity drive. [ID:nLDE74A0SY]
"Greece is facing a serious situation and I call on all the political forces to show such kind of responsibility that is required in this very serious situation," Rehn said.
"This is a real credibility test of Greek political forces and ultimately a test of the political will of the Greek people," Rehn said.
He reiterated it was premature to talk about a second bailout programme for Greece to cover Greek financing gaps in 2012 and 2013, despite projections that Greece may need up to 65 billion euros more to tide itself over for those years.
Many economists expect some form of extra financing will be necessary for Greece as the country is unlikely to be able to return to markets next year as envisaged by the original bailout plan, set up in May 2010.
But Rehn said the situation of Greece would be discussed at the next meeting of euro zone finance ministers on Monday.
Fri May 13, 2011 6:41am EDT
* EU wants more budget cuts, revenue measures from Athens
* Greece budget deficit remains above called-for target
* Greek growth up in first quarter, offering some hope
(Adds quotes, background, details)
By Jan Strupczewski
BRUSSELS, May 13 (Reuters) - Greece must take additional steps to consolidate public finances this year because it is missing its deficit reduction targets, EU Economic and Monetary Affairs Commissioner Olli Rehn said on Friday.
Greece is struggling to put its public finances in order under a joint European Union and International Monetary Fund bailout programme under which Athens will get emergency loans of 110 billion euros over three years.
In return for the loans, Greece has committed to bring its budget deficit down to 7.6 percent of gross domestic product this year, 6.5 percent in 2012, 4.9 percent in 2013 and 2.6 percent in 2014.
"Because of weaker than expected growth last year, plus some fiscal slippages, there is need to take additional measures in fiscal consolidation still this year," Rehn told a news conference.
"How much will depend will the assessment on our mission currently in Athens. Yes, definitely there is a need to take further consolidation measures," he said.
The mission, which comprises representatives of the IMF, the European Central Bank and the Commission, is likely to finish work next week. It is also conducting an analysis of Greek debt sustainability, with debts forecast to rise to more than 160 percent of GDP next year.
The European Commission forecast on Friday that unless policies changed, Greece would have a budget deficit of 9.5 percent of GDP this year and 9.3 percent in 2012 -- well above the targets agreed in the EU/IMF programme.
Greek debt would rise to 157.7 percent of gross domestic product this year and to 166.1 percent in 2012, rather than be 145.2 and 148.8 percent as under the EU/IMF plan targets, the Commission forecast.
Rehn called on all political parties in Greece to support the tough austerity and structural reform programme.
Last Wednesday police fired teargas as some 20,000 protesters marched on the parliament as part of a 24-hour nationwide strike against the Socialist government's biting austerity drive. [ID:nLDE74A0SY]
"Greece is facing a serious situation and I call on all the political forces to show such kind of responsibility that is required in this very serious situation," Rehn said.
"This is a real credibility test of Greek political forces and ultimately a test of the political will of the Greek people," Rehn said.
He reiterated it was premature to talk about a second bailout programme for Greece to cover Greek financing gaps in 2012 and 2013, despite projections that Greece may need up to 65 billion euros more to tide itself over for those years.
Many economists expect some form of extra financing will be necessary for Greece as the country is unlikely to be able to return to markets next year as envisaged by the original bailout plan, set up in May 2010.
But Rehn said the situation of Greece would be discussed at the next meeting of euro zone finance ministers on Monday.
tommy271
Forumer storico
Destagionalizzati.
- Stato
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