Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (32 lettori)

[tommy271]

EU increases the pressure on Greece



Athens vows to hit targets as creditors focus on confidence, austerity votes in Parl’t

'

As Greece’s international creditors ramped up the pressure on the government to win a confidence vote in its new Cabinet, due on Tuesday night, and to push a new raft of austerity measures through Parliament next week, Prime Minister George Papandreou vowed that Athens would do all that is expected of it.
“We are determined as a country, as a government, to be on track with the program, to move forward and to do what is necessary,” Papandreou said after talks with European Council President Herman Van Rompuy in Brussels.
Van Rompuy reiterated his support for the government’s austerity drive but highlighted the need for “Greece to make further adjustment efforts” to secure funding and stressed the importance of the Greek PM reaching a cross-party agreement with political rivals. “National consensus is a prerequisite for success,” he said.
Ministers from some EU member states also ramped up the pressure. “We are waiting for a decision from the Greek Parliament. We are calling for not just the government, but the Greek opposition to support the plan,” said Belgian Finance Minister Didier Reynders.
Papandreou, who has made several unsuccessful attempts to win the backing of opposition parties, indicated that his government would keep trying for consensus at home but said he was hopeful of the continued solidarity of its EU peers.
“We do hope that the European Union will also have the similar will, a unity of purpose to not only support what Greece is doing, but also show the necessary strength for a crisis which has obviously not only reached Greek dimensions but a wider European dimension,” he said.
Papandreou’s comments came just a few hours after a surprise decision by eurozone finance ministers meeting in Luxembourg to delay the approval of a scheduled tranche of rescue funding for Greece, valued at 12 billion euros, until the confidence and austerity measure votes are secured.
Finance Minister Evangelos Venizelos, who continued talks with his eurozone peers in Luxembourg on Monday, said the measures had to be approved if Greece is to regain the trust of its EU partners and secure funding. A decision on a possible second bailout for Greece was put off until July 3.
“There is an immediate and urgent need to restore the country’s credibility, as far as the implementation of the program is concerned,” Venizelos said from Luxembourg. “Each day is of extreme importance so we cannot afford to waste a single hour,” he added.






ekathimerini.com , Monday June 20, 2011 (22:52)

 

[METHOS]

Some ND deputies uneasy with party's stance




***
Come vi dicevo, anche all'interno di ND iniziano ad esserci prese di distanza verso Samaras.
Al momento, molto soft. Ma la pressione sarà crescente, anche dal PP europeo cui ND aderisce.

Già speriamo bene. Bravo Tommy continua a seguire da vicino la questione delle divergenze all'interno del ND perchè è vitale

 

[tommy271]

Già speriamo bene. Bravo Tommy continua a seguire da vicino la questione delle divergenze all'interno del ND perchè è vitale

Sul voto di fiducia, probabilmente voteranno contro.
Ma sul voto della prossima settimana, quello sul "pacchetto" di emergenza, potremmo aspettarci qualche sorpresa.
Magari anche solo delle astensioni ... ma Samaras rimarrebbe spiazzato.

 

[tommy271]

Greece decisions to be made in July

IMF warns Europe’s debt crisis has potential to crush region’s outlook unless efforts are picked up

As the International Monetary Fund called for faster action on the eurozone’s debt crisis, European Union finance ministers agreed during a meeting on Monday that they would decide in early July the main outlines of a second bailout for Greece, including private sector contributions.
“We have agreed today that the contribution [of the private sector] must be voluntary, but... Greece also has to deliver,” said the head of the Eurogroup, Jean-Claude Juncker.
“If you aim for a voluntary private contribution, you can’t fix what size it must be beforehand. That also has to be discussed with private creditors.”
Juncker also emphasized that Greece had to keep its side of the agreement by passing further austerity measures.
New emergency talks for a second bailout for Greece were set for July 3.
In a call to pick up the pace of decisions being made on Greece, the IMF warned on Monday that Europe’s debt crisis has the potential to crush the otherwise positive economic outlook for the region unless policymakers step up efforts to resolve it.
“A broadly sound recovery continues, but the sovereign crisis in the periphery threatens to overwhelm this favorable outlook, and much remains to be done to secure a dynamic and resilient monetary union,” the Washington-based fund said in a statement.
“Failure to undertake decisive action could rapidly spread the tensions to the core of the euro area and result in large global spillovers.”
The IMF said policymakers should scale up Europe’s rescue fund and extend its potential uses “to secondary market purposes and term funding guarantees.”
That echoes proposals by the European Central Bank, which wants the rescue fund to purchase government bonds on the secondary market.
Meanwhile, euro-area governments stripped their permanent debt crisis mechanism of preferred-creditor status for any loans to Greece, Ireland and Portugal to help the countries return to bond markets. They also expanded their current 440-billion-euro fund.
The decision by finance ministers marks a policy reversal from a March agreement to give the European Stability Mechanism preferred status covering aid for all euro-area countries.
Such seniority would have given the ESM, due to be established in mid-2013, priority over private investors in any payout after a default.






ekathimerini.com , Monday June 20, 2011 (21:39)

 

[tommy271]

Fitch sees risk of Greece, U.S. debt defaults



Mon, Jun 20 2011








A man walks past a placard by the Civil Servants Confederation (ADEDY) calling people to participate in a rally against austerity in downtown Athens June 20, 2011.
Credit: Reuters/Yiorgos Karahalis





By Masayuki Kitano
SINGAPORE | Tue Jun 21, 2011 8:06am BST

SINGAPORE (Reuters) - Fitch Ratings warned it would treat a voluntary rollover of Greece's sovereign bonds in any rescue package as a default and would cut the credit rating, keeping pressure on European policymakers who intend to outline a new plan by mid July.
Fractious euro zone finance ministers are trying to patch together a second aid package for Greece, with more official loans and, for the first time, a contribution by private investors of Greek government bonds.
"The essence of the problem ... is that Greece needs new money," Andrew Colquhoun, head of Asia-Pacific sovereign ratings with Fitch, said at a conference in Singapore.
"Fitch would regard such a debt exchange or voluntary debt rollover as a default event and would lead to the assignment of a default rating to Greece," he said.
Fitch said it also saw risks of a debt default in the United States, whose top-rated bonds may suffer if the country doesn't lift its fiscal borrowing ceiling, as several developed countries struggle to deal with increased debt built up during the global financial crisis.
Greece has rattled financial markets as the Athens government and European policymakers try to avert the first debt default by a euro zone country.
Fitch's comments on Greece caused the euro to cut some gains on the day in Asian trade, although the reiteration of risks surrounding U.S. Treasuries kept the single currency from dropping more against the dollar.
After two days of crisis talks in Brussels, euro zone finance ministers issued Athens an ultimatum, saying the government, parliament and broader society had until July 3 to approve new steps in order to get the next instalment of the 110 billion in European Union and International Monetary Fund aid agreed in May 2010.
Greek Prime Minister George Papandreou faces a confidence vote on Tuesday, a hurdle he must clear to push forward with securing support for the austerity package that is the condition for the instalment of 12 billion euros.
Euro zone ministers said they were also ready to put together a second loan package for Greece of around 120 billion euros (106 billion pounds), to support the country longer term.
It would include investors making voluntary purchases of new Greek bonds as existing ones mature. Fitch estimates that Greece has a funding gap of around 80 billion euros to mid 2014.


DEFAULT RISKS
A month ago Fitch downgraded Greece's credit rating three notches to B plus and warned it could cut the rating further into junk territory. At the time, the rating agency said an extension of the maturity of existing bonds would be considered a default.
Fitch is not alone in warning that the EU's ideas may be propelling Greece towards a debt default.
Standard & Poor's cut Greece's rating to CCC from B on June 13, and warned that any attempt to restructure the country's debt would be considered a default. It reiterated that point in comments to German newspaper Die Welt, due to be published on Tuesday.
Moody's has a Caa1 rating on Greece's sovereign debt, which implies a 50 percent chance of a default within three to five years.
As European policymakers scramble to avoid a Greek debt default, derivatives traders called on them not to deliberately avoid triggering a credit event in the credit default swap market, otherwise investors may view the instruments as ineffective gauges of default risk.
It could force investors to stop using CDS as a way to hedge their risk, they said.
The euro area debt crisis has already prompted Greece, Ireland and Portugal to seek financial rescue. Concern that Greece may be heading for a debt default is growing, leading to some tightening of credit markets and conference calls on Sunday and Monday by G7 finance ministers.
Washington says the Greek crisis could pose a risk to the fragile global recovery following the financial crisis.
The United States, alongside the likes of Japan and Britain, has its own fiscal debt worries.
Colquhoun reiterated that Fitch would place the U.S. sovereign rating on watch negative if Congress did not raise the federal government's borrowing ceiling by August 2. The U.S. Treasury Department says Congress must raise the $14.3 trillion (8.8 trillion pound) debt ceiling by then to avoid a potential default.
If the U.S. government misses an August 15 coupon payment, Fitch would place the rating on restricted default. Members of the U.S. Republican party have flirted with the idea of a U.S. default as an acceptable price to pay if it forces the White House to cut spending sharply in negotiations over raising the national debt limit.
Still, Colquhoun said it believed the debt ceiling would be raised and a default would be avoided.
Fitch made similar comments earlier this month and Moody's and S&P have issued warnings along the same lines. But Fitch was the first major ratings agency to say U.S. Treasury securities could be downgraded, even for a short period.
U.S. lawmakers working to rein in rising debt said on Monday that they will have to make substantial progress this week to ensure the country retains its top-notch credit rating.

 

[C.Bonacieux]

Per quel che può contare, ho sentito ieri pomeriggio Focus Economia su radio24, hanno parlato per un po' della Grecia, e tanto il conduttore Barisoni, quanto la corrispondente da Bruxelles del sole24ore hanno detto, ridetto e ribadito cento volte di dare per scontato il salvataggio della Grecia, anche se obtorto collo, perché un suo default sarebbe costato più del suo salvataggio.

 

[tommy271]

Bond euro aprono poco variati, attesa per voto fiducia in Grecia

martedì 21 giugno 2011 09:00



LONDRA, 20 giugno (Reuters) - Poco variati in apertura di
seduta i futures Bund, in attesa del voto di fiducia del
parlamento di Atene alla nuova formazione di governo varata dal
primo ministro greco George Papandreou.

Un'eventuale bocciatura del rimpasto - che Papandreou ha
voluto per rafforzarsi in vista dell'approvazione del nuovo
piano di austerità del paese - metterebbe a rischio il pagamento
dei 12 miliardi di euro della prossima tranche di aiuti alla
Grecia, avvicinando un possibile default del paese.

Ma anche nel caso di fiduca all'esecutivo, il sollievo
sarebbe di breve durata - spiegano gli operatori - visto che
rimane aperto il dibattito su come coinvolgere i creditori
privati in un secondo piano di aiuti alla Grecia e visto che
Fitch ha chiarito che considererà alla stregua di un default un
'rollover' dei titoli greci detenuti dal settore privato, anche
se su base volontaria.

"Il mercato attribuisce una probabilità più o meno del 90% a
un voto favorevole a Papandreou" spiega un trader. "Se non passa
avremo dei guai, ci sarà un reazione violenta del mercato, ma
fino al voto si galleggerà".

In tale contesto particolare attenzione va alle aste della
mattinata dalla periferia di eurozona: 1,25 miliardi di euro a
13 settimane proprio dalla Grecia e fino a 3,25 miliardi di euro
a tre e sei mesi dalla Spagna.

In relazione al voto del parlamento greco "il rischio di un
esito negativo non è trascurabile" scrive Commerzbank in una
nota. "Alla luce delle consueguenze potenzialmente drastiche, ci
aspettiamo che i Bund rimangano in range nel corso della seduta
di oggi e ribadiamo il nostro consiglio di non prendere
posizioni sullo spread, man mano che ci si avvicina al voto".

 

[METHOS]

Per quel che può contare, ho sentito ieri pomeriggio Focus Economia su radio24, hanno parlato per un po' della Grecia, e tanto il conduttore Barisoni, quanto la corrispondente da Bruxelles del sole24ore hanno detto, ridetto e ribadito cento volte di dare per scontato il salvataggio della Grecia, anche se obtorto collo, perché un suo default sarebbe costato più del suo salvataggio.

Fin dall'inizio ho sempre pensato che un default greco avrebbe portato a far barcollare altri stati, per cui è meglio mollare ora un pò di soldi che trovarsi in un caos probabilmente ingestibile dopo.

Ovviamente gli inglesi non son d'accordo ma quando è toccato a loro i soldi li hanno tirati fuori per le loro banche disastrate. Peccato perchè potevano darci un esempio concreto di come dalle chiacchere sui massimi sistemi perfetti si poteva passare ai fatti....

 

[ficodindia]

Alcuni titoli demagogici dei giornali greci.

Certa stampa, non solo greca, non ha capito, o fa finta di non capire per evidenti motivi di tiratura, che lo scontro non è tra il popolo greco ed il Governo, bensì tra il popolo greco, almeno quello manipolabile mediaticamente e l'UEM/FMI. Per cui il seguente titolo ne è un esempio:

ADESMEFTOS TYPOS: "All-front attack against prime minister George"
Athens Newspaper Headlines

Da parte sua, ND concorre pesantemente a questa campagna mediatica demagogica e fuorviante.
Come andrà a finire? Credo che alla fine il piano sarà approvato a meno che la Grecia non voglia precipitare nel baratro.

 

[Gaudente]

Buongiorno a tutti e......

YouTube - ‪Troy Discorso di Achille ai Mirmidoni‬‏

Certo che sei proprio senza vergogna.

Continui a sputtanare soldi sui GGB greci per non ammettere lo sbaglio commesso all'entrata, e ne meni pure vanto paragonando il tuo stare flaccidamente stravaccato davanti ad un monitor ad un gesto eroico.