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

[tommy271]

ECB's Paramo: Greece needs to grit teeth, Spain must convince






BARCELONA | Thu May 26, 2011 10:29am EDT

BARCELONA May 26 (Reuters) - Greece needs to grit its teeth and sell off more of its state assets to get its finances back in order, European Central Bank Executive Board member Jose Manuel Gonzalez-Paramo said on Thursday.
"It is absurd to talk of any country leaving the euro," Gonzalez-Paramo said during a Q&A session at a Spanish National Council conference. "The only solution for Greece is to grit its teeth and take measures to return to growth."
He added that Spain needed to ensure its various regional governments hit deficit-cutting targets to convince financial markets Spain would not be dragged into the debt crisis

 

[tommy271]

European Stocks Drop on Report IMF May Withhold Aid to Greece

May 26, 2011, 10:29 AM EDT

By Will Hadfield
May 26 (Bloomberg) -- European stocks retreated after the head of the group of euro-area finance ministers said the International Monetary Fund may not release its portion of aid to Greece next month.
Burberry Group Plc, the U.K.’s largest luxury retailer, tumbled 4.4 percent. Man Group Plc jumped 2.8 percent after the world’s biggest publicly traded hedge fund manager said profit fell less than estimated and client assets increased. Nobel Biocare Holding AG, the world’s second-largest maker of dental implants by sales, surged 7.1 percent after Morgan Stanley recommended the shares.
The Stoxx 600 lost 0.4 percent to 276.33 at 3:00 p.m. in London. Even so, the gauge has risen 5.4 percent from this year’s low on March 16 as investors speculated that company profits and government stimulus measures will keep the economic recovery on track.

 

[tommy271]

German 10-Year Yield Declines Below 3%; IMF May Not Give Greece Assistance

By Matthew Brown - May 26, 2011 4:05 PM GMT+0200 Thu May 26 14:05:27 GMT 2011

German government bonds extended their advance after Luxembourg Prime Minister Jean-Claude Juncker said the International Monetary Fund may not release its portion of aid for Greece next month.
The 10-year bund yield fell five basis points to 2.998 percent as of 3:03 p.m. in London, the first time below 3 percent since Jan. 14. Two-year yields were four basis points lower at 1.62 percent.
“There are specific IMF rules and one of those rules says that IMF can only take action when the refinancing guarantee is given over 12 months,” Juncker said today at a conference in Luxembourg. “I don’t think that the troika will come to the conclusion that this is given,” he said.



(Bloomberg)


***
Oggettivamente, non mi sembra una non-notizia ...

 

[tommy271]

IMF's Blanchard: Greece IMF Program Is 'More Or Less' On Track




RIO DE JANEIRO -(Dow Jones)- The International Monetary Fund's top economist on Thursday said the adjustment program for Greece is more or less on track, though changing market perceptions will prevent the country from returning to capital markets as planned in mid-2012.
Blanchard warned that whether or not Greece restructures its debt, the country will still need more official funding. "The notion that restructuring would be a magic bullet is clearly not right," Blanchard said in an interview on the sidelines of a conference on capital flows.
"Whether or not there is restructuring, the need for financing is there."
Additionally, "restructuring would also come with the risk of contagion, and that is something one has to be thinking about very, very hard," he said, The IMF assumed the adjustment program Greece is pursuing would lead to a "fairly large recession, and that's what has happened.
"It looks like it's a bit worse than predicted, maybe by 0.5%," Blanchard said. "You have to think of the Greek adjustment as a 10-year adjustment," Blanchard said.
"During these 10 years, I would be surprised if we knew for sure that it was going to work."
Blanchard said that the impact of a full-blown Greek debt crisis on European banks would be "substantial, but not enormous, and could be handled," and that there probably wouldn't be much spillover.
"I am relatively optimistic that it will not affect the world recovery in any substantial way," Blanchard said.



***
Mah, questo dice altro ...

 

[gualberto]

Juncker: Fmi potrebbe non rilasciare la sua parte di aiuti alla Grecia nel prossimo mese (Bloomberg)

Il presidente dell´Eurogruppo, Jean Claude Juncker, ha dichiarato che il Fondo Monetario Internazionale potrebbe non rilasciare la sua parte di aiuti alla Grecia nella tranche in programma il prossimo mese. E´ quanto si apprende dall´agenzia Bloomberg. Juncker ha inoltre dichiarato che la Grecia non riuscirà quest´anno a centrare gli obiettivi di bilancio che si era imposta e, di conseguenza, il governo di Atene deve avviare con urgenza il piano di privatizzazioni.

scusa è giusta questa traduzione?

 

[tommy271]

IMF: Focusing on next steps for Greece

Thu, May 26 2011, 14:32 GMT | Forex Live
By: Jamie Coleman

Greece facing difficult economic issues IMF can't lend without assurances Needs assurances from Greece before disbursement to Greece Goal is to get Greece on recovery path

 

[tommy271]

Juncker: Fmi potrebbe non rilasciare la sua parte di aiuti alla Grecia nel prossimo mese (Bloomberg)

Il presidente dell´Eurogruppo, Jean Claude Juncker, ha dichiarato che il Fondo Monetario Internazionale potrebbe non rilasciare la sua parte di aiuti alla Grecia nella tranche in programma il prossimo mese. E´ quanto si apprende dall´agenzia Bloomberg. Juncker ha inoltre dichiarato che la Grecia non riuscirà quest´anno a centrare gli obiettivi di bilancio che si era imposta e, di conseguenza, il governo di Atene deve avviare con urgenza il piano di privatizzazioni.

scusa è giusta questa traduzione?

Dice anche:
“There are specific IMF rules and one of those rules says that IMF can only take action when the refinancing guarantee is given over 12 months,” Juncker said today at a conference in Luxembroug. “I don’t think that the troika will come to the conclusion that this is given,” he said.

Ah, si ... I don't
In effetti gli spread sono sempre rimasti inchiodati...

 

[tommy271]

Deve essere il primo caldo di stagione , poi qui giocano sulle parole ...

 

[Ataru98]

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

Fugnoli è un grande.
Ciò che mi perplime del suo ragionamento è che prende in considerazione solo le due opzioni fondamentali: default o non default. Mentre invece per metterlo in quel posto a noi investitori si possono inventare tante opzioni mediane.

 

[Ataru98]

(continuo qui il commento a Fugnoli)

E' infatti la terza opzione che mi preoccupa di più.
Credo che se si dovesse decidere per riscadenzare i bond e sospendere il pagamento degli interessi, ci rimetteremmo solo noi investitori, seppur poco.
Il default non impedirebbe alle banche Greche di finanziarsi presso la BCE; le banche europee (e la stessa BCE) non avrebbero problemi di bilancio, in quanto il valore nominale dei bond in loro possesso non si ridurrebbe e potrebbero continuare ad utilizzarli come collaterali (infatti, se non sbaglio, la BCE può accettare come collaterali anche junk bond); la Grecia respirerebbe un po, non dovendo pagare gli interessi; BCE e FMI potrebbero versare qualche tranche di soldi in meno; i cittadini tedeschi sarebbero contenti del minimo di rigore preteso dai loro politici.
L'unico problema resterebbe il calo di fiducia nei TdS dei piigs, con inevitabile aumento dei relatvi spread, ma forse sarebbe gestibile e, comunque, non una tragedia.

Farnetico? Chi mi chiarisce dove sbaglio?