Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (13 lettori)

[tommy271]

I TITOLI DEI GIORNALI:


The new tax measures on businesses and real estate and the Indignants' movement were the main front-page headlines in Athens' dailies on Tuesday.


ADESMEFTOS TYPOS: "The new measures cause storms..."

AVRIANI: "MPs pressuring Venizelos to take initiatives to halt Papandreou's downfall, save PASOK from dissolution and save the state property from sell-off".

DIMOKRATIA: "Papandreou with broken brakes - Losing control at all levels".

ELEFTHEROS: "Katseli lambasts Papandreou's economic policy, sounds warning bell over repercussions of measures being advanced by government if not combined with developmental prospects".

ELEFTHEROS TYPOS: "Tax annihilation of businesses, real estate".

ELEFTHEROTYPIA: "Guillotine to salaries from 1,300 euros".

ESTIA: "The final blow to the economy".

ETHNOS: "Wagers and dilemmas for Papandreou".

NAFTEMPORIKI: "How the Troika supervisors will be 'installed'."

TA NEA: "Cuts of up to 40 percent in public sector salaries".

VRADYNI: "The tax-bulldozer demolishes real estate".


(ana.gr)

 

[tommy271]

EU's Barnier: Second Aid Plan For Greece Includes Asking Private Creditors To Keep Exposure



PARIS (Dow Jones)--European Commissioner Michel Barnier said a second aid plan for Greece includes asking private creditors to keep their exposure to Greek debt at present levels for the coming years, French newspaper Le Monde reported Tuesday.
The plan is "fair" and the contribution from private creditors would be significant, said Barnier, commissioner for the single market, according to Le Monde. He added that for both the European Commission and the European Central Bank, a Greek debt restructuring is not on the agenda, the newspaper reported.
Barnier also said he supports the proposal by European Central Bank President Jean-Claude Trichet to create a common finance minister for the euro zone. The new minister would take over the functions of the current European commissioner for economic and monetary affairs and would also assume authority over some fiscal matters and financial services, he said, according to Le Monde.
The European Commission, the European Union's executive branch, will keep asking European countries to make efforts to reach budget equilibrium, Barnier said. He suggested France should hand over its growth targeting to an independent authority so these targets would gain credibility.



More information at www.lemonde.fr

 

[tommy271]

Greece talks differ from Vienna Initiative -Nowotny






VIENNA, June 14 | Tue Jun 14, 2011 6:16am EDT

VIENNA, June 14 (Reuters) - It is sensible to coordinate help for Greece but it is important to distinguish between what is being talked about now and the original Vienna Initiative, European Central Bank (ECB) policymaker Ewald Nowotny said.
"It makes a lot of sense with respect to coordination but one has to see the differences between the original Vienna Initative and the discussion that is going on now," Nowotny, who sits on the ECB's Governing Council, told reporters on Tuesday.
The original initiative was an agreement at the height of the global financial crisis between the European Central Bank, the European Bank for Reconstruction and Development, regulators and banks with subsidiaries in central and eastern Europe.
Parent bank groups publicly committed to maintain their exposures and recapitalise their subsidiaries in central and eastern European countries as part of financial aid packages from the European Union and the International Monetary Fund.

 

[tommy271]

La Borsa ad Atene si mantiene ancora in verde, ma prevalgono le prese di beneficio: indice ASE a 1257 punti + 0.37%.
I nostri spread sprofondano senza opporre resistenza: attualmente intorno a 1472 pb.

 

[Nobody's]

1473,5

 

[tommy271]

G.Provopoulos: Core Tier 1 At 10%



Bank of Greece Governor Giorgos Provopoulos informed bankers for the retention of minimum levels of the Core Tier 1 at 10% since early 2012.
Sources told Capital.gr that the main core equity would include preference shares.

The strengthening of the minimum capital adequacy indices is a result of movement at a European level, as Portugal has already decided to increase Core Tier 1 to 9% in 2011 and 10% in 2012, while Spain has defined the index to 8-10%.

During the meeting with the bankers, the governor informed that the Bank of Greece in cooperation with an international consultancy firm would review a sample of the loan portfolio of Greek banks and the index of non-performing loans under Basel Pillar II. The process will be completed by the end of November 2011.

(capital.gr)

 

[Nobody's]

Nulla dal fronte EU...vero Tommy?

Forse stasera si incontrano.....

Magari qualche rassicurazione.....

 

[tommy271]

Efsf, atteso domani lancio secondo bond, 5 mld a 10 anni

martedì 14 giugno 2011 13:05






LONDRA, 14 giugno (Reuters) - E' atteso per domani il lancio del secondo bond del programma Efsf per l'ammontare di 5 miliardi di euro a 10 anni annunciato venerdì.
Il nuovo bond dell'European Financial Stability Facility, per il quale è vista una forte domanda, è il primo a supporto del programma di assistenza per il Portogallo. Un altro bond, sempre a a supporto del Portogallo, è atteso entro il 15 luglio per l'ammontare di 3 miliardi con la durata di 5 anni.
L'operazione, che ha rating tripla A da tutte e tre le agenzie di rating, è condotta da Barclays Capital, Deutsche Bank e HSBC.
L'Efsf aveva collocato la sua prima tranche lo scorso gennaio, quando aveva collocato 5 miliardi di euro per la durata di 5 anni nel quadro del supporto finanziario all'Irlanda.
In quell'occasione le richieste erano state pari a oltre 45 miliardi di euro provenienti da 500 investitori. Venne collocato a 6 punti base sul tasso del midswap, mentre in questi giorni quota 4,5-2,5 pb.
I dealer si aspettano che il nuovo bond venga offerto in linea con le quotazioni dei bond dell'Unione Europea.
L'ipotesi è di uno spread di 14 punti base sopra il tasso del midswap, in linea con le quotazioni del bond dell'Unione Europea da 4,75 miliardi di euro, cedola 3,5% con scadenza giugno 2021. In questo caso vi corrisponderebbe uno spread sul bund decennale di 46,5 punti base.
Un comunicato del mese scorso, che pianificava le emissioni obbligazionarie entro il 15 luglio per coprire le prime tranche di prestiti a Portogallo e Irlanda per un totale di 15,3 miliardi di euro, diceva che i pagamenti della parte restante dell'anno saranno soggetti alle richieste di Portogallo e dell'Irlanda e alle revisioni trimestrali congiunte di Ue, Fmi e Bce. Nel secondo semestre sono in programma altri due bond, con un obiettivo di 3-5 miliardi per ogni operazione.
L'Ue poi potrebbe completare la copertura delle proprie esigenze di finanziamento con emissioni minori, sia attraverso prestiti sindacati sia attraverso transazioni mirate.

 

[tommy271]

Nulla dal fronte EU...vero Tommy?

Forse stasera si incontrano.....

Magari qualche rassicurazione.....

Non forse ... oggi pomeriggio si incontrano i Ministri delle Finanze.
Non è prevista nessuna decisione operativa (queste saranno decise al prossimo vertice di settimana prossima), ma ogni probabilità verrà stilato un documento a sostegno della Grecia.
Sarà una discussione molto riservata.

 

[tommy271]

UPDATE: Non-Core Euro-Zone Funding Costs Rise As Greek Woes Intensify



(Adds analysts' comments, context to Spanish, Italian, Greek, Belgian debt sales throughout.)
By Emese Bartha



Of DOW JONES NEWSWIRES
Funding costs of several euro-zone non-core issuers predominantly rose Tuesday as Greece's latest downgrade added fresh pressure to the European debt crisis.
Spain, Greece and Belgium sold short-term debt, while Italy sold the maximum targeted EUR3.5 billion of a five-year government bond.
These tenders took place one day after Standard and Poor's Ratings Services cut Greece's ratings by three notches to CCC, making it the lowest-rated government debt in the world, saying that the likelihood of one or more defaults over the next 12 months is significantly higher amid efforts by its creditors to close an emerging financing gap.
Markets differentiate between the bailout three, Greece, Ireland and Portugal on the one hand, and 'tier 2' Italy, Spain and Belgium on the other. The interwoven nature of the European debt crisis, however, means that pressure tends to grow on non-core issuers at times when fresh Greece-related fears hit the markets.
"The decoupling is still there for now with Spain and Italy doing well in their refinancing programme so far with almost 50% of the expected needs already raised in the market," said Jean Francois Robin, a strategist at Natixis.
Greece sold EUR1.625 billion of 26-week T-bills, including a 30% non-competitive tranche above the EUR1.25 billion offer size. It paid a uniform yield of 4.96%, compared with 4.88% at the previous sale May 10. The coverage ratio, a gauge of investor demand, fell to 2.58 from 3.58.
While closely-watched, the tender was only a limited litmus test as the T-bills effectively replace domestic bank holdings as they roll off, said Richard McGuire, senior fixed income strategist at Rabobank, calling the results as mixed with a marked decline in coverage ratio.
Spain sold EUR5.418 billion in 12- and 18-month Treasury bills, near the maximum targeted EUR5.5 billion, and the offer attracted a hefty total EUR17 billion in bids, implying a more than three-fold coverage. The higher yields, however, are "a reflection of the current tensions in the peripheral universe," said UniCredit strategist Chiara Cremonesi.
Spain's 12-month average yield rose to 2.695% from 2.546% previously May 17. The 18-month average yield increased to 3.260% from 3.095%.
Italy paid a yield of 3.90% on the BTP April 2016, seen pre-auction as cheap versus neighboring BTPs, compared with 3.77% at the previous auction May 13 in what Commerzbank strategist David Schnautz said was a cautious auction with only one bond on offer.
The bid-to-cover ratio was a low 1.28 compared with 1.45 previously but Schnautz said "key...to get the job done as this is not the time to expect stellar-looking results."
Belgium sold EUR2.323 billion in Treasury certificates, with its 12-month paper being the only one in Tuesday's euro-zone supply with falling yield.
Spanish Treasury: www.tesoro.es
Italian Treasury: Dipartimento del Tesoro -
Greek Treasury: www.pdma.gr
Belgian Debt Agency: www.debtagency.be



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Uno sguardo su tutta la periferia.