Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (10 lettori)

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tommy271

Forumer storico
ND leader addresses Economist conference





Main opposition New Democracy (ND) party leader Antonis Samaras, addressing the Economist's conference at an Athens seaside resort on Wednesday evening, gave a reply to European Union officials, terming as "improper intervention" their recent appeals for consensus among the political forces in Greece.

"The country has a constitution, institutions and a government as well as an opposition and dignity. In any case, it appears that the tones are falling from Brussels on an improper intervention which does not fit neither with Europe nor with democracy. And, in any case, we do not negotiate the constitutional order of our country, we don't even discuss it. And on this, I am certain, all agree. I shall say nothing more on this, nor is it necessary."

Samaras also cut short the discussion on consensus, saying "nobody has the right to place his failure on someone else. We disagreeed with government policy since last year. We warned of its failure. And now that it has been proved that our criticism was correct, now that more and more are confessing this failure, shall we say 'yes' to the continuation of a mistake? I am obliged, as the opposition, to consent to the mistake? On what grounds?".

He added that the opposition does not exist to consent to the government's mistakes but to formulate alternative solutions.

Samaras further said that the basis for the country's exit from the crisis is the proposal he submitted, last week, at the Zappion Hall on the restarting of the Greek economy, that must be taken in its entirety to produce results and not fragmentally. He clarified, however, that "it will be lost in its entirety if it is not adopted in its entirety, if there is no restarting totally with a creative shock. However the government does not accept this. It accepts, as it says, 'some others'. What can we do with the 'others'".

The ND leader said that Greece is in the eye of the global cyclone and a year after the implementation of the memorandum its position has worsened and added that "the main reason for the failure was the plan itself" and explained that the implementation of measures of harsh austerity with a decrease in public expenditures and an increase in taxes worsened the recession.

"We are the first to want our country to avoid bankruptcy. The policy being applied today, however, is leading us to bankruptcy,"
Samaras said.

(ana.gr)

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La posizione dell'opposizione di centro-destra.
 

tommy271

Forumer storico
Altra giornata sensibilmente tesa, quella di ieri, sul fronte degli spread/bund sul decennale.
Oltre ai nostri soliti greci, il vento di perturbazione si sposta sulla penisola iberica con la Spagna particolarmente debole, verso un livello record di differenziale.
Mercoledì ad Atene è iniziato il processo che condurrà alla vendita dei gioielli di famiglia con la nomina degli advisor. La Troika ha chiesto che la manovra sia supportata anche dalle forze di opposizione di centrodestra.
Per il resto il dibattito accademico si sposta sul "reprofiling", con i giocatori di CDS sempre più tesi.

Grecia 1282 pb. (1267)
Irlanda 729 pb. (747)
Portogallo 625 pb. (616)
Spagna 225 pb. (222)
Italia 162 pb. (162)
Belgio 110 pb. (108)
 

tommy271

Forumer storico
Government unclear on public sector sackings



Mixed messages from ministers as IMF warns program will be derailed without speedier
reforms


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As the International Monetary Fund’s top official in Athens warned on Wednesday that Greece’s deficit reduction program was at risk of running “off track” without further structural reforms, the government, embroiled in an argument about whether political consensus is needed for reforms, suggested it might not sack civil servants as part of its package of measures.
The IMF’s chief of mission in Athens, Poul Thomsen, warned at a conference that Greece has to “reinvigorate” its structural reforms if it is to meet its targets.
Finance Minister Giorgos Papaconstantinou, at the same Economist conference, said that Greece would adopt extra measures this year to slash another 6 billion euros from public spending. But he was less clear on whether the government will meet one of the demands put forward by the IMF and the European Union, which is to drastically reduce the amount of people working in the public sector.
Earlier in the week, Interior Minister Yiannis Ragousis had suggested that thousands of civil servants could lose their jobs as part of the departmental transfers that are taking place, but Papaconstantinou seemed to muddy the waters by saying that bureaucrats could be fired if a public body is shut down or merged.
The government’s position seemed even less clear when Ragousis told Parliament there would be no public sector sackings because savings had to be made by not renewing short-term contracts. Ragousis said this policy led to a reduction of 50,000 employees in the civil service.
However, Deputy Prime Minister Theodoros Pangalos, who spoke to Skai TV, indicated that public servants who are not on permanent deals would have to go through an evaluation process run by the Supreme Council for Personnel Selection (ASEP). Anyone deemed unqualified would be denied a position, said Pangalos.
The deputy prime minister was also critical of comments by EU Economic and Monetary Affairs Commissioner Olli Rehn, who called for political consensus over the reforms in Greece. “His comments suggest that he is trying to attach political terms to the administrative relationship between the EU and Greece but this is not correct and makes things worse,” said Pangalos. “It is only natural that if political terms are added, we will tell him to get his hands off.”






ekathimerini.com , Wednesday May 18, 2011 (23:08)

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Il dibattito all'interno della compagine governativa.
 

tommy271

Forumer storico
Scant support for loan deal



Poll shows just 2 in 10 want gov't to respect EU-IMF pact



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Just under 20 percent of Greeks believe that the government should continue abiding by the terms of the EU-IMF loan memorandum and pay off all of Greece’s debt, a poll has found, while almost two-thirds of respondents believe the country will default at some point.
The Public Issue survey for Skai TV and Radio indicates that the percentage of Greeks who think Greece should restructure its debt has increased from 40 percent last September to 53 percent this month.
Similarly, 17 percent believe Athens should default, compared to 7 percent eight months ago. The percentage of those who think Greece should stick to the memorandum has fallen from 29 to 17.
In terms of who Greeks blame for the country’s debt and deficit problems, politicians are seen as the chief culprits, polling 33 percent.
Governments as a whole are regarded as the guilty parties by 21 percent, while 11 percent say that Greek citizens must accept the biggest share of the blame.






ekathimerini.com , Wednesday May 18, 2011 (22:34)

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Il sentimento popolare.
 

tommy271

Forumer storico
Nomura's Westaway Says Greek Restructuring is a Contagion Risk



Bloomberg May 18, 2011 04:00

May 18 (Bloomberg) -- A Greek debt restructuring involving losses for bondholders, or a haircut, carries more risks than benefits, Peter Westaway, chief European economist at Nomura International Plc said.
"The benefits of a haircut in Greece are exaggerated and the risks underestimated," Westaway said at a conference in Athens today. "Talk of restructuring is a distraction from getting Greece's fiscal policy back on track."
He said the most likely option for Greece was an extension of financial aid to 2015 and said a rescheduling or reprofiling of Greece's debt "is a way of buying time, that is something we favor."
The risk of any Greek restructuring would be that of contagion for Ireland and Portugal, Westaway said. While European integration stands at a critical juncture "there's strong political commitment in Europe to keep the show on the road, which investors overseas don't understand."
 
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tommy271

Forumer storico
Bond euro negativi, seguono Treasuries Usa in attesa aste

giovedì 19 maggio 2011 08:34




LONDRA, 19 maggio (Reuters) - Partenza con il segno meno per
l'obbligazionario europeo, la cui correzione segue quella dei
governativi Usa in attesa della nuova tornata di aste che vede
impegnate oggi Francia e Spagna.

Gli investitori guardano anche al debutto delle borse
europee che si prefigura positivo dopo la performance di Wall
Street ieri.

"L'elemento determinante per la mattinata sono le aste, il
cui effetto è potenzialmente negativo" commenta un operatore
londinese.

"Lo scenario di una ristrutturazione del debito greco
continua a sostenere almeno in parte il mercato ma i rendimenti
sembrano un po' tirati" aggiunge.


Sul fronte del primario gli appuntamenti con l'offerta
francese e spagnola saggeranno l'appetito degli investitori per
titoli 'core' e 'periferici'.

Parigi offre tra 7 e 8,5 miliardi di Btan e Oat a scadenza
2013-2016 insieme a 1,5-2 miliardi di indicizzati 2016, 2019 e
2027, mentre dal Tesoro spagnolo è invece in arrivo 3-4 miliardi
di carta a dieci e trent'anni.
 

tommy271

Forumer storico
Buongirno Tommy, ti leggo sempre con piacere. Quali sono oggi i tuoi pensieri? o meglio le convinzioni?

Proseguirà la tensione sui periferici, al momento si sta ancora discutendo per cercare - credo - una soluzione che vada incontro alle attese dei Ministri delle Finanze e della BCE: questione non semplice.
Nel frattempo non succederà nulla sino alla prossima sessione Eurogruppo/Ecofin di giugno.
A mio parere i prezzi scontano attualmente lo scenario più pessimista, specie su alcuni titoli.
 
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TORO2002

Nuovo forumer
Proseguirà la tensione sui periferici, al momento si sta ancora discutendo per cercare - credo - una soluzione che vada incontro alle attese dei Ministri delle Finanze e della BCE: questione non semplice.
Nel frattempo non succederà nulla sino alla prossima sessione Eurogruppo/Ecofin di giugno.
A mio parere i prezzi scontano attualmente lo scenario più pessimista, specie su alcuni titoli.

Mi trovo in portafoglio i seguenti: 2012 5,25% - 2013 4,60% - 2019 6%

che pensieri possono dare alle attuali condizioni? Grazie
 
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