Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (5 lettori)
- Creatore Discussione Imark
- Data di Inizio
- Stato
fabriziof
Forumer storico
A dar man forte ai mercati anche Fitch, che ha dichiarato che l´esposizione delle banche tedesche alla Grecia è gestibile, aggiungendo che attualmente non prevede nessun movimento sul rating degli istituti tedeschi come riflesso della loro esposizione verso il debito ellenico. L´agenzia di valutazione vede un potenziale rischio di contagio qualora vi fosse una ristrutturazione del debito di Atene. In questo quadro a Piazza Affari il Ftse Mib ha guadagnato l´1,13% a 20.815 punti, mentre il Ftse All Share è avanzato dell´1,03% a quota 21.586.
tommy271
Forumer storico
Greece's Eurobank Net Profit Jumps On Sale Of Polish Unit
By Alkman Granitsas
Of DOW JONES NEWSWIRES
ATHENS (Dow Jones)--EFG Eurobank Ergasias SA (EUROB.AT), Greece's second-largest lender by assets, Wednesday reported a surprise EUR74 million first-quarter net profit, buoyed by the recent sale of its Polish operations.
The bank said it had realized a total profit of EUR230 million from the sale, but had set aside more than half that total--EUR130 million--into a special reserve to cover adverse developments in its securities portfolio.
"Capitalizing on our strategic initiative in the Polish market, we managed a substantial improvement to our capital adequacy ratios, and created a collective reserve to cover future prospective risks, while, at the same time, we managed to record a profit of EUR74 million," Chief Executive Officer Nicholas Nanopoulos said.
The bank said its total Tier 1 Ratio after the sale rose to 11.9% at the end of the first quarter, up from 11.0% a year earlier. The bank didn't give details for its Core Tier 1 ratio, a narrower measure of its capital adequacy.
The net profit for the three months to March 31, compares with a EUR16 million net profit from a year earlier, which came after a one-off EUR45 million tax on banks imposed by the Greek government, and beat market expectations of a EUR2.6 million loss.
But excluding the gains from that sale, Eurobank's overall results appeared weak, with net interest income--the difference that the bank earns between its loans and deposits--slipping 2.2% to EUR503 million and below market expectations of EUR545 million.
Higher provisions also weighed, with the bank increasing its impairment losses 3.7% from a year earlier to EUR335 million--but below market forecasts of EUR351 million.
Eurobank is more exposed to non-performing loans than peers because its loan book is weighted to consumer lending products that are more sensitive to the recession in Greece.
Eurobank is the second Greece's four main banks to report first-quarter results, which are being closely watched for signs of further deterioration in problem loans and set against a background of slumping loans growth and slipping deposits.
On Tuesday, rival lender Alpha Bank AS (ALPHA.AT) reported a first-quarter net profit of EUR10.5 million, broadly in line with market expectations.
National Bank of Greece SA (NBG) and Piraeus Bank SA (TPEIR.AT) are also due to announce their results this week.
Eurobank shares closed Wednesday up 1.2% at EUR3.26.
***
Corporate.
By Alkman Granitsas
Of DOW JONES NEWSWIRES
ATHENS (Dow Jones)--EFG Eurobank Ergasias SA (EUROB.AT), Greece's second-largest lender by assets, Wednesday reported a surprise EUR74 million first-quarter net profit, buoyed by the recent sale of its Polish operations.
The bank said it had realized a total profit of EUR230 million from the sale, but had set aside more than half that total--EUR130 million--into a special reserve to cover adverse developments in its securities portfolio.
"Capitalizing on our strategic initiative in the Polish market, we managed a substantial improvement to our capital adequacy ratios, and created a collective reserve to cover future prospective risks, while, at the same time, we managed to record a profit of EUR74 million," Chief Executive Officer Nicholas Nanopoulos said.
The bank said its total Tier 1 Ratio after the sale rose to 11.9% at the end of the first quarter, up from 11.0% a year earlier. The bank didn't give details for its Core Tier 1 ratio, a narrower measure of its capital adequacy.
The net profit for the three months to March 31, compares with a EUR16 million net profit from a year earlier, which came after a one-off EUR45 million tax on banks imposed by the Greek government, and beat market expectations of a EUR2.6 million loss.
But excluding the gains from that sale, Eurobank's overall results appeared weak, with net interest income--the difference that the bank earns between its loans and deposits--slipping 2.2% to EUR503 million and below market expectations of EUR545 million.
Higher provisions also weighed, with the bank increasing its impairment losses 3.7% from a year earlier to EUR335 million--but below market forecasts of EUR351 million.
Eurobank is more exposed to non-performing loans than peers because its loan book is weighted to consumer lending products that are more sensitive to the recession in Greece.
Eurobank is the second Greece's four main banks to report first-quarter results, which are being closely watched for signs of further deterioration in problem loans and set against a background of slumping loans growth and slipping deposits.
On Tuesday, rival lender Alpha Bank AS (ALPHA.AT) reported a first-quarter net profit of EUR10.5 million, broadly in line with market expectations.
National Bank of Greece SA (NBG) and Piraeus Bank SA (TPEIR.AT) are also due to announce their results this week.
Eurobank shares closed Wednesday up 1.2% at EUR3.26.
***
Corporate.
Ultima modifica:
Gaudente
Forumer storico
Semplicemente io non ho ne' euro ne' tds europei.
lorixnt2
Hari Seldon's fan
tommy271
Forumer storico
ECB's Weidmann: Debt restructuring could trigger contagion
Published: Wednesday, 25 May 2011 | 11:39 AM ET
FRANKFURT - Extending payback deadlines on Greece's EU/IMF aid could trigger problems in other high debt countries and undermine future support packages, new Bundesbank head and ECB policymaker Jens Weidmann said on Wednesday.
Weidmann, who took over from Axel Weber as head of the Bundesbank at the start of this month, said in an interview with German newspaper Frankfurter Allgemeine Zeitung that the German central bank was not opposed to the idea of a debt restructuring in principle, but that such a move could have consequences.
"Lengthening debt maturities helps only to a limited degree. There is also the risk that an after-the-fact forced maturity extension would amount to default and have contagion effects on other countries," Weidmann said.
"A soft restructuring could lead to troubles in other euro zone countries' banking systems, when the credibility of other aid programs would be questioned."
Weidmann is currently being squeezed between his former employer the German government, which argues bond holders should swallow losses if a borrowing country does not pay, and the ECB where he is now a policymaker, which remains vehemently opposed to a restructuring.
One of the possible reasons for the ECB's fierce opposition is that it is estimated to have bought around 40-45 billion euros of Greek debt last year under its Securities Markets Program which was openly criticized by Weidmann's predecessor, Weber.
Weidmann warned a Greek restructuring would hit the ECB and trample over the rules of monetary union.
"In principle, the consequences of fiscal policy mistakes may not be pushed to central banks. In the end, this would lead to a monetization of debt."
"The danger of soft restructuring is also that the pressure to economic adjustment of indebted countries decreases. It would be the wrong signal and would further undermine trust in public finances in the euro zone," he added.
POLICY NORMALISATION
Despite the intensifying debt restructuring debate, the ECB is currently expected to raise euro zone interest rates to 1.5 percent in July, having ended almost two years of record low rates by hiking them to 1.25 percent in April.
Weidmann bolstered that view. "I will not prejudge the policy decisions of the ECB Governing Council. I'll just note that the monetary policy stance currently continues to be expansionary," he said.
"In that respect, we have two tasks in front of us: normalization of non-standard measures and normalization of the interest rate."
He pinpointed concerns about the impact of higher energy and commodity prices on inflation.
Raw material prices "show up in consumer price and worry us, because there can be second-round effects. If they come to be, that would be a notable danger to price stability," he said.
"What concerns us are inflation expectations. Long-term expectations ... have increased somewhat. They are still anchored, but we are looking at them carefully."
(Reuters)
Published: Wednesday, 25 May 2011 | 11:39 AM ET
FRANKFURT - Extending payback deadlines on Greece's EU/IMF aid could trigger problems in other high debt countries and undermine future support packages, new Bundesbank head and ECB policymaker Jens Weidmann said on Wednesday.
Weidmann, who took over from Axel Weber as head of the Bundesbank at the start of this month, said in an interview with German newspaper Frankfurter Allgemeine Zeitung that the German central bank was not opposed to the idea of a debt restructuring in principle, but that such a move could have consequences.
"Lengthening debt maturities helps only to a limited degree. There is also the risk that an after-the-fact forced maturity extension would amount to default and have contagion effects on other countries," Weidmann said.
"A soft restructuring could lead to troubles in other euro zone countries' banking systems, when the credibility of other aid programs would be questioned."
Weidmann is currently being squeezed between his former employer the German government, which argues bond holders should swallow losses if a borrowing country does not pay, and the ECB where he is now a policymaker, which remains vehemently opposed to a restructuring.
One of the possible reasons for the ECB's fierce opposition is that it is estimated to have bought around 40-45 billion euros of Greek debt last year under its Securities Markets Program which was openly criticized by Weidmann's predecessor, Weber.
Weidmann warned a Greek restructuring would hit the ECB and trample over the rules of monetary union.
"In principle, the consequences of fiscal policy mistakes may not be pushed to central banks. In the end, this would lead to a monetization of debt."
"The danger of soft restructuring is also that the pressure to economic adjustment of indebted countries decreases. It would be the wrong signal and would further undermine trust in public finances in the euro zone," he added.
POLICY NORMALISATION
Despite the intensifying debt restructuring debate, the ECB is currently expected to raise euro zone interest rates to 1.5 percent in July, having ended almost two years of record low rates by hiking them to 1.25 percent in April.
Weidmann bolstered that view. "I will not prejudge the policy decisions of the ECB Governing Council. I'll just note that the monetary policy stance currently continues to be expansionary," he said.
"In that respect, we have two tasks in front of us: normalization of non-standard measures and normalization of the interest rate."
He pinpointed concerns about the impact of higher energy and commodity prices on inflation.
Raw material prices "show up in consumer price and worry us, because there can be second-round effects. If they come to be, that would be a notable danger to price stability," he said.
"What concerns us are inflation expectations. Long-term expectations ... have increased somewhat. They are still anchored, but we are looking at them carefully."
(Reuters)
Gaudente
Forumer storico
neanche quelli, ma non perche' siano a rischio default, semplicemente perche' non rendono nulla.neanche tedeschi gau?
lorixnt2
Hari Seldon's fan
Bene. Ti ringrazio
. Non posso continuare in questo thread perché andrei pesantemente off topic. Thx anyway
tommy271
Forumer storico
Greek PM says Greece must deal with own crisis
PARIS | Wed May 25, 2011 11:30am EDT
PARIS May 25 (Reuters) - Greek Prime Minister George Papandreou said on Wednesday it was primarily down to Greece to tackle its debt problems.
"It is a Greek responsibility to deal with our own crisis first and foremost," Papandreou told a forum at the OECD in Paris.
The European Union and the IMF say Athens has fallen behind with its bailout programme and are demanding tougher savings measures, revenue increases and privatisations before they will release the next tranche of aid, due next month.
PARIS | Wed May 25, 2011 11:30am EDT
PARIS May 25 (Reuters) - Greek Prime Minister George Papandreou said on Wednesday it was primarily down to Greece to tackle its debt problems.
"It is a Greek responsibility to deal with our own crisis first and foremost," Papandreou told a forum at the OECD in Paris.
The European Union and the IMF say Athens has fallen behind with its bailout programme and are demanding tougher savings measures, revenue increases and privatisations before they will release the next tranche of aid, due next month.
- Stato