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

[PASTELLETTO]

Ora me lo leggo con calma, ma dalla prima impressione che ne ho ricevuto dalle premesse, se ora l' "informazione finanziaria" professionale riuscirà a diffondere una chiave di lettura di segno opposto e riesce a far rovesciare nuovamente i mercati azionari, allora devo ammettere che la speculazione finanziaria con la S maiuscola, ha spunti quasi artistici, a dir poco suggestiva.....
Signori, questi sono dei geni...dei grandi...Con un giù, su e di nuovo giù sono capaci di fare un movimento del 60% in una settimana
Ma la stampa finanziaria avrà mica qualche interesse a dare delle chiavi interpretative al mercato?
Ferro azzurro ama Anacott acciaio

Che è una novità.

 

[tommy271]

Vertice dell’Eurofruppo, verso la bancarotta tecnica per la Grecia | euronews, mondo

Con video.

 

[tommy271]

?? ???? - Selective default... ????? ?????? - o????????

Selective default per pochi giorni.

Utilizzate il tradurre, se non sapete il greco moderno.

 

[giub]

Text of eurozone debt crisis draft agreement

Here are the main points from the draft agreement being considered by eurozone leaders at an emergency summit aimed at providing new aid to Greece and preventing debt contagion:
COMMITTED TO ENSURE EURO STABILITY
"The recovery in the euro area is well on track and the euro is based on sound economic fundamentals. But the challenges at hand have shown the need for more far reaching measures. We reaffirm our commitment to the euro and to do whatever is needed to ensure the financial stability of the euro area as a whole. We also reaffirm our determination to reinforce convergence, competitiveness and governance of the Euro area."
NEW GREEK BAILOUT
"We agree to support a new programme for Greece and to provide an additional amount of up to (figure yet to be determined). This programme will be designed, notably through lower interest rates and extended maturities, to decisively improve the debt sustainability and refinancing profile of Greece. We call on the IMF to contribute to the financing of the new Greek programme in line with current practices.
"We have decided to lengthen the maturity of the EFSF (European Financial Stability Facility) loans to Greece to the maximum extent possible from the current 7.5 years to a minimum of 15 years."
'MARSHALL PLAN' FOR GREECE
"We call for a comprehensive strategy for growth and investment in Greece. Structural funds should be re-allocated for competitiveness and growth under a European 'Marshall Plan.' Member States and the Commission will mobilise all resources necessary in order to provide exceptional technical assistance to help Greece implement its reforms."
GRAVE SITUATION
"Greece is in a uniquely grave situation in the Euro area. This is the reason why it requires an exceptional solution. The financial sector has indicated its willingness to support Greece on a voluntary basis through a menu of options (bond exchange, roll-over, and buyback) at lending conditions comparable to public support with credit enhancement."
EURO NATIONS PLEDGE
"All other Euro countries solemnly reaffirm their inflexible determination to honour fully their own individual sovereign signature and all their commitments to sustainable fiscal conditions and structural reforms. The Euro area Heads of States or Government fully support this determination as the credibility of all their sovereign signatures is a decisive element for ensuring financial stability in the Euro area as a whole."
EFSF CRISIS FUND BOOST
"To improve the effectiveness of the EFSF and address contagion, we agree to increase the flexibility of the EFSF, allowing it to:
- intervene on the basis of a precautionary programme, with adequate conditionality;
- finance recapitalisation of financial institutions through loans to governments including in non programme countries;
- intervene in the secondary markets on the basis of an ECB analysis recognising the existence of exceptional circumstances and a unanimous decision of the EFSF Member States."
AUSTERITY PROGRAMMES
"We welcome the progress made on the implementation of the programmes in Ireland and Portugal and reiterate our strong commitment to the success of these programmes. The EFSF lending conditions we agreed upon for Greece will be applied also for Portugal and Ireland ...
"All euro area member states will adhere strictly to the agreed fiscal targets, improve competitiveness and address macro-economic imbalances. Deficits in all countries except those under a programme will be brought below 3.0 percent (of Gross Domestic Product) by 2013 at the latest. In this context, we welcome the budgetary package recently presented by the Italian government which will enable it to bring the deficit below 3.0 percent in 2012 and to achieve a balanced budget in 2014. We also welcome the ambitious reforms undertaken by Spain in the fiscal, financial and structural area. As a follow up to the results of bank stress tests, member states will provide backstops to banks as appropriate."
ECONOMIC GOVERNANCE
"We look forward to the rapid finalisation of the legislative package on the strengthening of the stability and growth pact and the new macro economic surveillance. Euro area members will do their utmost to help reaching agreement with the European Parliament on voting rules in the preventive arm of the pact."
REDUCING CREDIT AGENCY INFLUENCE
"We agree that reliance on external credit ratings in the EU regulatory framework should be reduced, and look forward to the Commission proposals in this respect."
CRISIS MANAGEMENT
"We invite the President of the European Council, in close consultation with the President of the Eurogroup, to make concrete proposals by October on how to better organise crisis management in the euro area and improve working methods."

 

[tommy271]

Europa guarda a nuovi estesi poteri per fondo salvataggio

giovedì 21 luglio 2011 19:29




BRUXELLES (Reuters) - I leader della zona euro hanno deciso di dare al loro fondo di salvataggio finanziario nuovi e più ampi poteri per evitare il contagio e aiutare la Grecia a superare la crisi del debito, secondo una bozza delle conclusioni del vertice straordinario.
I leader si sono riuniti a Bruxelles, dopo che la Banca centrale europea si è detta disposta ad accettare un default temporaneo della Grecia come parte di un piano che comprende prestiti ufficiali più lunghi e a tassi più bassi, uno swap del debito, un buyback di bond, ma nessuna nuova tassa sulle banche.
Il timore alla base era che la crisi del debito europeo potesse travolgere economie molto più grandi come quelle di Spagna e Italia. Grecia, Portogallo e Irlanda hanno già ceduto.
La bozza del vertice, ottenuta da Reuters, mostra che il fondo di salvataggio Efsf consentirà per la prima volta di aiutare in anticipo gli stati con i prestiti precauzionali, di ricapitalizzare le banche e di intervenire sul mercato obbligazionario secondario.
"Per migliorare l'efficacia dell'Efsf ed evitare il contagio, abbiamo convenuto di aumentare la flessibilità dell'Efsf" dice la bozza, elencando i tre passaggi fondamentali, quelli che la Germania aveva in precedenza bloccato.
Il cancelliere tedesco Angela Merkel e il presidente francese Nicolas Sarkozy hanno raggiunto una posizione comune nelle trattative di ieri notte a Berlino, insieme con il presidente della Bce Jean-Claude Trichet.
"Mi aspetto che saremo in grado di siglare un nuovo piano per la Grecia. Questo è un segnale importante. E con questo programma vogliamo estirpare i problemi alla loro radice" ha detto Merkel ai giornalisti all'arrivo a Bruxelles [ID: nLDE76K0KA].
Il ministro delle Finanze olandese Jan Kees de Jager ha detto che un default a breve termine o un default selettivo per la Grecia, a lungo fortemente respinto dalla stessa Bce, ora è una possibilità. "La richiesta di evitare un default selettivo è stata rimossa", ha detto al parlamento olandese.
Secondo la bozza, le scadenze sui prestiti di salvataggio per tutti e tre i paesi assistiti - Grecia, Irlanda e Portogallo - saranno estesi a 15 anni da 7 e mezzo e il tasso di interesse sarà ridotto a circa il 3,5% dal 4,5-5,8% di oggi.
L'Efsf sarà in grado di fare prestiti agli Stati in via cautelare, invece di aspettare fino a quando essi non hanno più la possibilità di ricorrere da soli al mercato, di ricapitalizzare le banche attraverso prestiti ai governi, anche se non sono sotto il programma di assistenza di Ue/Fmi.
Il Fondo potrà inoltre, per la prima volta, intervenire sui mercati obbligazionari secondari, a fronte di un'analisi della Bce che ne riconosce le "circostanze eccezionali" e di a una decisione unanime.
La Germania aveva bloccato tutte queste misure, quando la Commissione europea le aveva proposte nuovamente in febbraio, in un momento in cui la crisi era meno acuta, dicono fonti Ue.
I più ampi poteri dell'Efsf potrebbero aiutare a evitare o ridurre al minimo qualsiasi contagio di mercato in caso di insolvenza temporanea greca.
In quella che appare come una concessione da parte di Merkel nell'accogliere queste misure più audaci, Sarkozy ha lasciato cadere la richiesta francese di una tassa sulle banche per finanziare il piano di secondo salvataggio per la Grecia.
I leader hanno anche chiesto un "Piano Marshall" di investimenti pubblici europei per aiutare a rilanciare l'economia greca, in una profonda recessione a causa della draconiana austerità imposta da Ue/Fmi.
I mercati hanno tutti reagito positivamente all'accordo..

 

[giub]

qui le notizie dal futuro: (scherzo...in au è già domani...)

Eurozone to provide longer bailout loans: draft

Updated July 22, 2011 01:19:48
The euro rose sharply as the information emerged.



The eurozone will provide loans with lower interest rates and longer maturities to countries in financial trouble such as Greece, Portugal and Ireland, according to a summit draft agreement.
The loans would be extended from 7.5 years to 15 years, while the rates would be lowered from 4.5 per cent to 3.5 per cent, according to the draft being considered by eurozone leaders holding a debt crisis summit in Brussels.
The euro rose sharply as the information emerged.
The measures, cited by diplomats who have seen the draft, had already been agreed to by eurozone finance ministers on July 11 but the details had yet to be worked out.
Greece and Ireland have long advocated easier loan conditions from the eurozone's crisis fund, the European Financial Stability Facility (EFSF), arguing the terms were too strict for them to clean up their finances.
The European Union and the IMF offered Greece a three-year, 110-billion-euro rescue package in May 2010.
But the bailout has proved insufficient, forcing eurozone leaders to negotiate a second emergency plan for Greece.
The new bailout will also include new eurozone and IMF loans which could reach 71 billion euros ($94.3 billion), according to diplomats.
Private bondholders such as banks, insurers and investment funds will also contribute to the plan, fulfilling a central demand by Germany.
German chancellor Angela Merkel and French president Nicolas Sarkozy crafted a common position on a second Greek bailout in late-night talks in Berlin with ECB president Jean-Claude Trichet, who appears to have reversed the bank's stance.
"I expect we will be able to seal a new Greece program. This is an important signal," Ms Merkel told reporters on arrival in Brussels.
"With this program we want to grasp the problems by their root."
Ms Merkel gave no details but Dutch finance minister Jan Kees de Jager said a short-term or selective default for Greece, vehemently opposed by the ECB, was now a possibility.
"The demand to prevent a selective default has been removed," he told Dutch parliament.
AFP/Reuters
Eurozone to provide longer bailout loans: draft - ABC North Qld - Australian Broadcasting Corporation

 

[giub]

Eurozone to guarantee Greek bonds in a default: diplomats

21 July 2011, 19:01 CET
—http://www.eubusiness.com/search?Subject:list=finance
(BRUSSELS) - The eurozone will use its crisis fund to guarantee Greek bonds during any partial debt default to enable the European Central Bank to continue financing private banks, diplomats said Thursday.
Eurozone leaders were set to adopt at a summit a new Greek rescue package that will include the participation of the private sector, which is expected to be interpreted by credit ratings agencies as a partial or selective default.
A European diplomat said such a Greek default would last "a few days," if the actions taken by private creditors reduce the Greek debt quick enough for ratings agencies to then withdraw the default status.
During that time, the ECB would in theory have to refuse Greek sovereign bonds as collateral for loans to Greek private banks.
Greek banks, which now depend on credit from the ECB, could face bankruptcy if the Frankfurt-based central bank stopped funding them.
To ensure this does not happen, the eurozone's crisis fund, the European Financial Stability Facility (EFSF), will guarantee Greek bonds and in return the ECB will continue accepting them as collateral, diplomats said.
One diplomat said the guarantees could amount to 20 billion euros ($29 billion) during a short-lived default.

 

[giub]

Europe resigned to a partial Greek default

Europe resigned to a partial Greek default | euronews, world news

 

[giub]

Greek Buyback
BofA Merrill Lynch estimates a buyback of Greek bonds worth 50 billion euros at issuance would pare the country’s debt load by 20 billion euros. Success may depend on whether the purchases can be made without jolting prices so high that the scope for debt reduction evaporates.
The facility may also start passing money to countries to support banks a week after stress tests on 90 financial institutions put as many as 24 under pressure to show they can raise capital. Investors said Deutsche Bank, UniCredit SpA and Societe Generale SA are among those needing to boost reserves after scraping through the probes.
Greece, struggling to tame a debt of around 143 percent of gross domestic product and with the economy set to contract for a third year, was also promised a “Marshall Plan” to help spur growth and investment.

 

[StockExchange]

Non una riga, non una sola riga, che faccia capire si che morte debbano morire gli obbligazionisti !