Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (8 lettori)

[tommy271]

New Medium-Term Program Revealed



Greek Finance Minister Giorgos Papakonstantinou presented on Thursday a 123-page explanatory report of the new Budget -substantially the medium-term program- including tough austerity measures of €28.3b. However, no details are described, as they are mentioned with short phrases and figures.

The law bill will be passed in a single article, which includes provisions of voting for new measures to adjust deviations in revenue and expenditure for each ministry.

Cuttings of social benefits, pensions and tax allowances, equation of taxation on fuel and heating oil, and changes in single payroll are still not clarified.

Moreover, the public organisations to shutdown or merge are not listed.

However, it provides measures of reduction of contractors, increase of transport fares and tariffs, change of social beneficiaries, excise taxes and reduction of €700m in the Public Investment Program.

Regarding privatisations, the government’s plan is much more detailed. It published lists of government, tourist and other buildings to be developed and a revised list of privatisations.

The program refers to committing to privatisations of €5b in 2011 and €50b by 2015. The government will announce initiatives for the development of real estate assets.

It proceeds with the establishment of an Agency for Privatisation (Public Property Fund). This will obtain the ownership of state assets under privatisation.

The Fund will be governed under the Greek law, and will be staffed by “pundits of experience and expertise in privatisations and its administration will have the approval of the House.” The European Union and Eurozone member-states may assign two observers, “who will not participate in the administration of the Fund”.

(capital.gr)

 

[tommy271]

ASE Moves Upwards, Turnover Remains Thin



The Athens Stock Exchange moves cautiously on Friday, with the limited investment interest focusing on banks and FTSE20 shares, while the forecasts on the new medium-term package tabled yesterday is at the centre of attention.

Yesterday΄s promising end provides the grounds for a positive open during today΄s session, as we consider that the gradual rise of trading volume towards the close of the session derives from institutional portfolios that saw yesterday΄s hyperbole as an opportunity to partially increase short-term positions”, said Pegasus Securities in its morning report.

Pegasus considers that the gradual change of Germany΄s stance on Greece΄s 2nd bailout will be perceived as positive news from the market “although there have been no constructive developments in the medium-term plan front”.

“The announcement of the Medium Term Fiscal Consolidation Plan and its targets is not expected to alter the market’s sentiment in the short-term as most of the targets were already communicated”, said Marfin Analysis, adding that news on the new support Plan from the EU could be the catalyst.

Across the board, the General Index is at 1,271.13 units, up 0.67%. The turnover stands at €31.5m, while at total amount of 57 shares rise, 51 decline and 41 remain unchanged.

Banks are at 969.32 units, with profits of 1.29%.

MIG and Ellaktor top FTSE20, rising by 5.08% and 4.82%, while Mytilineos and Hellenic Petroleum gain 2.24% and 2.13% respectively. On the other hand, ATEbank falls by 3.45%.

(capital.gr)

 

[tommy271]

Greece might submit law to lower VAT rates in Sept-finmin






ATHENS, June 10 | Fri Jun 10, 2011 6:26am EDT

ATHENS, June 10 (Reuters) - Greece might submit a law in September to lower VAT rates and corporate taxation, its Finance Minister said on Friday.
"The reviewed economic programme allows for the government to submit in September a comprehensive proposal for a simplified tax system with fewer and lower VAT rates and a further reduction to what has already been done to corporate taxation," Finance Minister George Papaconstantinou told reporters.
Papaconstantinou, who presented the country's mid-term fiscal plan, said the new measures are expected to be voted by the parliament by the end of the month.

 

[Nobody's]

Grecia, cds 5 anni in rialzo 25pb su incertezza ristrutturazione

Reuters - 10/06/2011 12:54:12

LONDRA, 10 giugno (Reuters) - Il costo di assicurare il debito pubblico greco contro il rischio di default è in rialzo, a causa dell'incertezza sul piano di ristrutturazione, mettendo sotto pressione anche Spagna, Portogallo e Irlanda.

I credit default swaps (CDS) a 5 anni sulla Grecia salgono di 25 punti base a 1,545, secondo Markit.

Significa che il costo di assicurare 10 milioni di euro è pari a 1,545 milioni.

I cds spagnoli salgono di 9 punti base a 269, quelli portoghesi di 12 punti a 725, gli irlandesi di 8 punti a 695.

 

[Nobody's]

Grecia potrebbe proporre misura taglio Iva a settembre - minFin

Reuters - 10/06/2011 12:47:23

ATENE, 10 giugno (Reuters) - La Grecia potrebbe presentare già a settembre al parlamento la proposta di legge volta alla riduzione dell'Iva e della tassazione sulle società.

Lo annuncia il ministro delle Finanze.

"Il programma economico rivisto permette al governo di sottoporre in settembre all'esame del parlamento un'ampia proposta di semplificazione del sistema fiscale con un taglio dell'imposta sul valore aggiunto e un'ulteriore riduzione del carico fiscale sulle imprese" dice alla stampa il responsabile alle Finanze George Papaconstantinou.

Presentando il piano di medio termine per la correzione dei conti pubblici, il ministro annuncia di prevedere le misure vengano approvate dal parlamento entro fine mese.

 

[tommy271]

EU's van Rompuy expects new Greek bailout by end-June






NIZHNY NOVGOROD, Russia, June 10 | Fri Jun 10, 2011 6:15am EDT

NIZHNY NOVGOROD, Russia, June 10 (Reuters) - European Council President Herman Van Rompuy said on Friday he was confident a new bailout package for Greece would be agreed by the end of the month.
"We are working at different levels on the package. First of all, in Greece, on a package of measures correcting the fiscal slippage in 2011 and this is a rather important effort," Van Rompuy, who chairs EU leaders' summits, told a news conference.
"We are also working on some form of private sector involvement, creating no default or credit event," he said. "We are working on additional European financial means for Greece. As in the past, we will have a positive outcome and we will reach agreement by the end of the month. I am confident."

 

[Nobody's]

Sapevo se toccaco facevo guai....maledizione

 

[tommy271]

Greece to issue 1.25 bln eur of 26-week T-bills June 14






ATHENS, June 10 | Fri Jun 10, 2011 6:43am EDT



ATHENS, June 10 (Reuters) - Greece will auction 1.25 billion euros ($1.81 billion) of 26-week T-bills on June 14, continuing its plan of monthly short-term debt sales, the country's debt agency (PDMA) said on Friday.
The settlement date will be June 17. Only primary dealers will be allowed to participate and no commission will be paid.


***
Ritornano i nostri Bot/Greek.

 

[tommy271]

PM: Continouous decrease of deficits



ANA-MPA/'Our aim is the continuous decrease of the deficits" stressed prime minister George Papandreou on Friday in parliament during the "Hour of the prime minister", responding to current questions tabled by Popular Orthodox Rally (LAOS) president George Karatzaferis and Coalition of the Left parliamentary group leader Alexis Tsipras.

"Our fundamental goal is that we will not need increasingly more loans in order to survive," underlined Papandreou, adding: "This is my patriotic stance. No to creditors. We will change Greece'.

The premier said that the reduction of the deficit by 5 percent is a "record", adding that "hope indeed exists that in 2012 we will have a primary surplus". He also referred to deep changes, such as the privatisations, adding that these would be carried out "always with transparency and always at the best prices".

Papandreou further said that emphasis will be placed on competitiveness, quality and exports, but also on education and health services.

"The greatest social injustice and counter-incentive to development is tax evasion" he reiterated, adding that "our aim is a wider political system that is trusted by the people. The debt will become manageable and we will proceed with changes in order for our economy to become viable," the premier stressed.

On the country's future, he said "We will change Greece. Not only will we have a different Greece but we will also have solved the huge issue of the debt for the next generations, for a Greece never again come under supervision.

(ana.gr)

 

[Nobody's]

PM: Continouous decrease of deficits



ANA-MPA/'Our aim is the continuous decrease of the deficits" stressed prime minister George Papandreou on Friday in parliament during the "Hour of the prime minister", responding to current questions tabled by Popular Orthodox Rally (LAOS) president George Karatzaferis and Coalition of the Left parliamentary group leader Alexis Tsipras.

"Our fundamental goal is that we will not need increasingly more loans in order to survive," underlined Papandreou, adding: "This is my patriotic stance. No to creditors. We will change Greece'.

The premier said that the reduction of the deficit by 5 percent is a "record", adding that "hope indeed exists that in 2012 we will have a primary surplus". He also referred to deep changes, such as the privatisations, adding that these would be carried out "always with transparency and always at the best prices".

Papandreou further said that emphasis will be placed on competitiveness, quality and exports, but also on education and health services.

"The greatest social injustice and counter-incentive to development is tax evasion" he reiterated, adding that "our aim is a wider political system that is trusted by the people. The debt will become manageable and we will proceed with changes in order for our economy to become viable," the premier stressed.

On the country's future, he said "We will change Greece. Not only will we have a different Greece but we will also have solved the huge issue of the debt for the next generations, for a Greece never again come under supervision.

(ana.gr)