Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1

[tommy271]

I TITOLI DEI GIORNALI:

The economy with the new package of measures anticipated by the memorandum mostly dominated the main front-page items in Athens' newspapers on Sunday.



AVGI: "He is buying time, he is sinking the country"

AVRIANI: "The extensive looting of public property is beginning".

ELEFTHEROTYPIA: "Tax evaders on plumes".

EPOCHI: "The solution must be given outside Parliament-Daily resistance in squares and streets"

ETHNOS: "Reversals and sacrifices coming with new Memorandum".

KATHIMERINI: "Pressure from inside PASOK and from Europe on New Democracy".

LOGOS: "The big trick with the country's silverware".

RIZOSPASTIS: "In the strike with PAME on Wednesday June 15".

TO PARON: "Elections or chaos".

PROTO THEMA: "4 Venizelos bombs".

REAL NEWS: "No one wants to rule".

VIMA: "We shall not give an alibi to those wanting us out of the euro".

VRADYNI: "Be pensioned off and gain".

(ana.gr)

 

[tommy271]

Grecia: Weidmann, euro resisterebbe a default

Il presidente della Bundesbank, Jens Weidmann, ha chiesto al governo tedesco di concordare un piano di salvataggio della Grecia, senza l'ausilio della Bce, che alleggerisca l'onere del debito del paese ellenico. Secondo il numero uno della banca centrale tedesca, che ha rilasciato oggi un'intervista al domenicale Welt am Sonntag, l'euro sarebbe comunque in grado di sopportare l'eventuale default della Grecia.

Weidmann - riporta Bloomberg - ha ricordato che la Bce non ha voluto inserire il piano di emergenza di acquisto di bond in un 'programma duraturo' e che l'attuazione di misure di austerità e di privatizzazioni messe in campo dal governo di Atene è stata fondamentale per evitare il default.

"Se gli impegni non saranno rispettati questo annullerà eventuali ulteriori aiuti - ha spiegato Weidmann - e ne deriverebbero conseguenze economiche drammatiche per il paese. Non penso che questo sarebbe ragionevole e metterebbe in difficoltà gli stessi paesi partner. Ma le prospettive per l'euro, anche in questo caso, rimarrebbero stabili".

sda-ats


(swissinfo.ch)

 

[tommy271]

EU chief confident of Greek aid package by end of month

• From: AFP
• June 13, 2011 12:00AM

HERMAN Van Rompuy says he is confident a new aid package for debt-ridden Greece can be agreed by the end of the month.

"We are working on additional European financial means for Greece," the European Union President told a news conference in Nizhny Novgorod after a summit meeting with Russian leaders.
"As in the past, we will have a positive outcome and we will reach agreement by the end of the month.
"If you ask me if I am confident, my answer is yes, I am confident."
Mr Van Rompuy said the parties were also working "on some form of private sector involvement" to avoid a "default or credit event".
The EU summit from June 23 to 24 is shaping up to focus primarily on a new rescue for Greece, following its E110 billion ($149bn) EU-IMF bailout last year.
Germany and the European Central Bank have been at loggerheads over whether to force Greek bondholders to participate in a fresh rescue.

 

[METHOS]

FINANZA/ Ecco il "patto" di Vienna che può salvare la Grecia

 

[tommy271]

NSIGHT-Lessons for Greece from Latin American debt crises






Sun Jun 12, 2011 6:33pm EDT

* Uruguay-style debt reprofiling an alternative for Greece
* Reprofiling would lock in private sector, buy time
* Market impact seen lower than outright default (Clarifies that extension of Uruguay's debt was a bond swap, paragraph 3; adds details on ISDA position that a voluntary debt exchange would not trigger Greece's CDS contracts, paragraphs 21-22)


By Walter Brandimarte


NEW YORK, June 12 (Reuters) - European policymakers scrambling to find a solution to Greece's debt crisis should probably look to Latin America.
Uruguay, for example, was able to pull off one of the smoother sovereign debt restructurings of the past decade. For Greece, its strategy would be an alternative to both an Argentine-style default and serial government bailouts that are increasingly harder to swallow for euro zone taxpayers.
When Uruguay could no longer afford to pay its debts in 2003, it asked creditors to participate in a bond swap that would extend for five years the maturities in half of its international bonds, keeping their face value and coupon untouched.
Fearing the alternative would be far worse, 90 percent of the creditors agreed to the bond exchange, concluded in May 2003. A few months later, Uruguay was back to international capital markets. By "reprofiling" its debt, the country got the financial relief and the time it needed to implement essential reforms in its banking system.
To be sure, Greece's problems are far worse than those Uruguay had, experts on Latin American debt crises say. It is still to be seen whether the Greeks would be able to implement privatizations and painful reforms, even if five more years were given to them.
But a "soft restructuring" of Greece's debt is worth trying, especially when billions of euros of Greece's debt continue to migrate from the private sector to the books of institutions backed by richer European countries.
"If I was sitting where Ms. (Angela) Merkel is, I would say, 'This is not a game I want to play,'" said Lee Buchheit, a partner at law firm Cleary Gottlieb Steen & Hamilton, who advised Uruguay during its debt restructuring.
"I would much rather grab those private-sector creditors by the nose and hold them in until we find out what has to be done, down the road, to finally resolve this problem," he said at a recent conference organized in New York by EMTA, an industry group formerly known as the Emerging Markets Trade Association.
If it turns out that Greece eventually needs to default, he added, it is just fair for the German chancellor to want "the private sector under that sword, not the German taxpayer."
Buchheit cited the example of the Latin American debt crisis of the 1980s, which started when Mexico was unable to pay its creditors in 1982.
At the time, he recalled, U.S. bank executives flew to Washington to ask then-Treasury Secretary James Baker to extend loans to the neighboring country so that the Mexican government could pay them back. Instead, Baker forced private creditors to stay in.
"Seven years went by, during which time they (the banks) built up their loan loss reserve provisions and finally that sword did fall, said Buchheit.
The attorney helped create the Brady plan that resulted from the 1989 re-emergence of the Mexican crisis.
The plan, named after U.S. Treasury Secretary Nicholas Brady, allowed developing economies to restructure their debt by issuing new bonds, many of them backed by U.S. Treasury securities, in exchange for structural reforms.

 

[tommy271]

Crisi debito Ue limitata a Grecia, Irlanda, Portogallo - Gurria

lunedì 13 giugno 2011 08:12






NUOVA DELHI, 13 giugno (Reuters) - La crisi debitoria europea sembra limitata a Irlanda, Grecia e Portogallo. Lo ha detto il segretario generale dell'Ocse Angel Gurria.
Gurria ha aggiunto di non aspettarsi che altri paesi europei, oltre ai tre menzionati, richiederanno sostengno finanziario all'Ue e al Fmi.

 

[tommy271]

EURO GOVT-Bunds creep lower, Greek fallout to support






LONDON, June 13 | Mon Jun 13, 2011 2:18am EDT

LONDON, June 13 (Reuters) - Bund futures crept lower on Monday after a sharp rally in the previous session but disagreements over a solution to the Greek debt crisis and concerns over the global economy should limit the downside.
The September Bund future FGBLU1 was 10 ticks lower at 125.78 as investors cashed in on 70 ticks of gains in the previous session.
But a stalemate over the form which a Greek debt restructuring should take would likely continue to offer the market some support as investors also braced for a bout of economic data out of the United States this week.
"The stand-off between politicians and (ECB President Jean-Claude) Trichet continues," said a trader in London.
"Bunds are well-underpinned for some time."
German lawmakers last week backed more aid for Greece in a non-binding vote after getting assurances from Finance Minister Wolfgang Schaeuble that private creditors would share the costs of a new rescue package, but rating agencies have warned against the consequences of a debt restructuring.
Safe-haven assets could also find support from a series of U.S. data this week which will show whether the economy is struggling with a soft-patch or a downturn.

"The risk is that we continue to see the data slowing down a bit. It's another potential support for the market," the trader added.

 

[tommy271]

Forex - EUR/USD lower as Greece uncertainty continues

2011-06-13 06:32:33 GMT (Forex Pros)










http://www.forexpros.com/news/forex...inty-continues-217079#add_comment_form_anchor

Forex Pros – The euro slipped to a seven-day low against the U.S. dollar on Monday, as uncertainty over whether bond holders would take part in a restructuring of Greek debt continued, with European Union policymakers no closer to an agreement.

EUR/USD hit 1.4322 during late Asian trade, the pair’s lowest since May 31; the pair subsequently consolidated at 1.4345, dipping 0.02%.

The pair was likely to find support at 1.4256, the low of May 30 and resistance at 1.4550, last Friday’s high.

On Sunday, Eurogroup chairman Jean- Claude Juncker said a bailout for Greece must include “voluntary” investor participation and meet the approval of central bankers.

However, the European Central Bank remains opposed to any restructuring of Greek sovereign debt.

Late last week, ECB President Jean-Claude Trichet said he would continue to resist any move to restructure the country's debt and warned that imposing losses on creditors would be the same as default.

Meanwhile, on Friday, Greek Finance Minister George Papaconstantinou said his country expects its euro zone partners to cover its financing needs with a new loan for the next two or three years.

The euro was also lower against the pound, with EUR/GBP slipping 0.05% to hit 0.8836.

Later in the day, ECB President Jean Claude Trichet was to speak at an event in London.

 

[Baro]

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[EDESMO]

Grecia

Websim - 13/06/2011 08:56:39

Domani l'Eurogruppo dovrà dire una parola definitiva su come e quando avviare il secondo piano di aiuti per la Grecia. La Germania spinge affinché i privati siano chiamati a fare la loro parte. Ma per la Ue l'adesione deve essere volontaria. (La Stampa p 24)