Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
- Creatore Discussione Imark
- Data di Inizio
- Stato
tommy271
Forumer storico
Greece needs 40 pct of debt forgiven-German wiseman
Thu May 26, 2011 7:54am EDT
* Other 60 pct needs to be swapped for euro bonds
* Comprehensive solution needed for all periphery states
HAMBURG, May 26 (Reuters) - Greece needs creditors to take a haircut of 40 percent and swap the remainder of its debt for some form of jointly-issued euro zone bonds as part of an overall package encompassing other struggling states, a German government advisor said.
"One needs a comprehensive concept that decides just how much debt states like Greece, Ireland, Portugal, Spain and Italy can sustainably bear," said Peter Bofinger, an economist who sits on a five-person advisory panel known as the "wisemen".
"That requires an enormous effort, but it is necessary," he added, speaking to journalists in Hamburg on Wednesday evening.
Bofinger, generally considered to be a Keynesian, has supported a type of economic rebuilding programme akin to the Marshall Plan instituted in Germany after the second world war.
The German government has said repeatedly that it does not want to go forward with restructuring of Greek debt in the near term although European policymakers continue to discuss some other form of "soft restructuring".
On Wednesday, he reaffirmed his calls for an investment plan to stimulate economic activity otherwise lost as a result of Greece's draconian austerity programme.
In an interview published on Thursday, German Finance Minister Wolfgang Schaeuble also said Greece needed a mid- to long-term growth strategy.
"One puzzle piece could be EU investments in expanding the power grid to take stronger advantage of solar energy in Greece," he told Handelsblatt.
***
Economisti ...
Thu May 26, 2011 7:54am EDT
* Other 60 pct needs to be swapped for euro bonds
* Comprehensive solution needed for all periphery states
HAMBURG, May 26 (Reuters) - Greece needs creditors to take a haircut of 40 percent and swap the remainder of its debt for some form of jointly-issued euro zone bonds as part of an overall package encompassing other struggling states, a German government advisor said.
"One needs a comprehensive concept that decides just how much debt states like Greece, Ireland, Portugal, Spain and Italy can sustainably bear," said Peter Bofinger, an economist who sits on a five-person advisory panel known as the "wisemen".
"That requires an enormous effort, but it is necessary," he added, speaking to journalists in Hamburg on Wednesday evening.
Bofinger, generally considered to be a Keynesian, has supported a type of economic rebuilding programme akin to the Marshall Plan instituted in Germany after the second world war.
The German government has said repeatedly that it does not want to go forward with restructuring of Greek debt in the near term although European policymakers continue to discuss some other form of "soft restructuring".
On Wednesday, he reaffirmed his calls for an investment plan to stimulate economic activity otherwise lost as a result of Greece's draconian austerity programme.
In an interview published on Thursday, German Finance Minister Wolfgang Schaeuble also said Greece needed a mid- to long-term growth strategy.
"One puzzle piece could be EU investments in expanding the power grid to take stronger advantage of solar energy in Greece," he told Handelsblatt.
***
Economisti ...
tommy271
Forumer storico
A Quadruplex Blow To Salaries, Pensions, Gratuities, Benefits
Further cuts in main pensions, faster reduction of supplementary pensions, increase of contributions, cuts in healthcare costs and fight against contribution evasion are included in the plan of the Labour Ministry, in order to ensure the fifth instalment of the aid loan.
These decisions are part of a partnership agreement, according to ministry officials. Greece should achieve the objective of reducing the state deficit to 7.5% of GDP at the end of the year, while the international lenders should resolve their differences in order to proceed with the release of the fifth aid tranche.
Under this “agreement”, the Ministry of Labour has to save €9.5b by 2015, of which €2.73b within 2011.
Under the plans, which have not been finalized yet, as the quantification of several objectives is pending, the additional €1.23b measures are related to:
A) Further reduction of healthcare costs, referring to a total decrease of €260m in expenditure.
B) Cuts in social benefits in order to save €345m.
C) Strong reductions in pensions by €245m, through temporary measures or reforming of benefits.
D) Increase of contributions for all employees, resulting in an increase of €380m in revenues. A special solidarity levy of 1% will apply to civil servants, while in the private sector the corresponding increase will be share to both the employer and the employee.
(capital.gr)
Further cuts in main pensions, faster reduction of supplementary pensions, increase of contributions, cuts in healthcare costs and fight against contribution evasion are included in the plan of the Labour Ministry, in order to ensure the fifth instalment of the aid loan.
These decisions are part of a partnership agreement, according to ministry officials. Greece should achieve the objective of reducing the state deficit to 7.5% of GDP at the end of the year, while the international lenders should resolve their differences in order to proceed with the release of the fifth aid tranche.
Under this “agreement”, the Ministry of Labour has to save €9.5b by 2015, of which €2.73b within 2011.
Under the plans, which have not been finalized yet, as the quantification of several objectives is pending, the additional €1.23b measures are related to:
A) Further reduction of healthcare costs, referring to a total decrease of €260m in expenditure.
B) Cuts in social benefits in order to save €345m.
C) Strong reductions in pensions by €245m, through temporary measures or reforming of benefits.
D) Increase of contributions for all employees, resulting in an increase of €380m in revenues. A special solidarity levy of 1% will apply to civil servants, while in the private sector the corresponding increase will be share to both the employer and the employee.
(capital.gr)
Orwell
Forumer attivo
... mancava Krugman
Grecia:Krugman,uscita da euro al 50% - Top News - ANSA.it
Grecia:Krugman,uscita da euro al 50% - Top News - ANSA.it
tommy271
Forumer storico
Certo che tra teoria e praxis, c'è la Grecia in mezzo ...
A nostro favore depone il fatto che questi non sono mai diventati miliardari ...
joubert
Nuovo forumer
tommy271
Forumer storico
Piena sintonia con Alessandro Fugnoli: L'antitragedia, il debito greco, l'oracolo le sirene.
http://www.kairospartners.com/drupal/sites/default/files/newsletter/Lantitragedia-RN-26.05.11.pdf
http://www.kairospartners.com/drupal/sites/default/files/newsletter/Lantitragedia-RN-26.05.11.pdf
giub
New Membro
ah ecco non conta
certo che poi fa dftl di gente che ha detto mink.iate ne è passata parecchia
anche in passato ci sono sempre stati....e si sono regolarmente riciclati....
Tanto daranno la colpa a questo e quello, ad un evento "imprevisto", ad un aggravarsi della situazione, ad una situazione, ad un comportamento...
tomcat
Forumer attivo
mi sembra ineccepibile!
tommy271
Forumer storico
Greek PM makes fresh bid for political consensus
Thu May 26, 2011 9:29am EDT
* Leaders to meet Friday
* EU has told Greece needs consensus to get extra aid
* Workers at state firms to strike June 15
* PM considers cabinet reshuffle if gets consensus - report
ATHENS, May 26 (Reuters) - Prime Minister George Papandreou has invited Greek political party leaders to meet on Friday in a fresh bid to reach consensus on austerity measures needed to exit a debt crisis.
EU policymakers have warned he must get broad political backing for debt-cutting measures to get the extra cash Greece needs to plug funding shortfalls, demanding the kind of consensus achieved in crisis-hit Ireland and Portugal.
"The president's office told us that the prime minister has asked for this meeting and that the finance minister and the foreign minister will also be present," a spokesman for the Left Coalition party told Reuters on Thursday.
A spokesman for main opposition conservative New Democracy said leader Antonis Samaras would attend the meeting.
Government officials were not immediately available for comment. State TV Net said the meeting would be chaired by Greek President Karolos Papoulias.
Opposition parties have so far rejected the latest austerity policies aimed at pulling Greece out of a severe debt crisis, saying they will stifle an economy already deep in recession.
The Kathimerini daily reported earlier on Thursday, without naming sources, that the prime minister was considering reshuffling his cabinet to include officials suggested by the opposition if it backs his austerity policies.
Athens kick-started a stalled privatisation programme on Monday and promised tougher austerity measures and tax hikes to meet EU/IMF conditions for the release of a 12 billion euro loan tranche in June, vital to keep Greece from defaulting.
But Samaras refused to offer his support
Thu May 26, 2011 9:29am EDT
* Leaders to meet Friday
* EU has told Greece needs consensus to get extra aid
* Workers at state firms to strike June 15
* PM considers cabinet reshuffle if gets consensus - report
ATHENS, May 26 (Reuters) - Prime Minister George Papandreou has invited Greek political party leaders to meet on Friday in a fresh bid to reach consensus on austerity measures needed to exit a debt crisis.
EU policymakers have warned he must get broad political backing for debt-cutting measures to get the extra cash Greece needs to plug funding shortfalls, demanding the kind of consensus achieved in crisis-hit Ireland and Portugal.
"The president's office told us that the prime minister has asked for this meeting and that the finance minister and the foreign minister will also be present," a spokesman for the Left Coalition party told Reuters on Thursday.
A spokesman for main opposition conservative New Democracy said leader Antonis Samaras would attend the meeting.
Government officials were not immediately available for comment. State TV Net said the meeting would be chaired by Greek President Karolos Papoulias.
Opposition parties have so far rejected the latest austerity policies aimed at pulling Greece out of a severe debt crisis, saying they will stifle an economy already deep in recession.
The Kathimerini daily reported earlier on Thursday, without naming sources, that the prime minister was considering reshuffling his cabinet to include officials suggested by the opposition if it backs his austerity policies.
Athens kick-started a stalled privatisation programme on Monday and promised tougher austerity measures and tax hikes to meet EU/IMF conditions for the release of a 12 billion euro loan tranche in June, vital to keep Greece from defaulting.
But Samaras refused to offer his support
- Stato
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