Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (6 lettori)

[tommy271]

(ANA-MPA) -- Government vice president and finance minister Evangelos Venizelos on Thursday described the situation arising following last week's eurozone summit decisions on Greece as a "window of opportunity", adding that the most important factor now was "our own efficiency and stability in implementing the decisions but also a climate of consensus at home".
Briefing parliament's standing committee on economics, Venizelos said that this week, for the first time, deposits have "returned" to the Greek banks, and reiterated his call on Greek depositors and investors to deposit their money in Greek banks, either by repatriating them from banks abroad or by 'taking the money out from under the mattress', and giving reassurances that the Greek banking system is the safest in the EU.
During a discussion of his ministry's omnibus bill in the committee, Venizelos took the opportunity to brief the MPs sitting on the committee on the results of the eurozone summit in detail, noting that "we reached a decision that radically changes the status quo, is bold, generous and groundbreaking".
A new picture has arisen after the summit, he said. "There is momentum, a window of opportunity. If we take the decisions that must be taken, if we remain steadfast, we will emerge from the tunnel," Venizelos added.
"This week, for the first time, we had a return of deposits to the Greek banks, which means that the market is reacting positively, and the Greek citizens as well," he said.


(ana.gr)

 

[tommy271]

I TEMI IN DISCUSSIONE NELLA RIUNIONE DI GOVERNO

(ANA-MPA) -- Prime Minister George Papandreou on Thursday chaired a cabinet meeting that focused chiefly on a planned reorganisation of the state sector, which includes the merger and abolition of various public-sector agencies and the founding of new organisations.
Sources said that the meeting did not go into the details of the reorganisation, which are to be discussed in subsequent meetings between Finance Minister Evangelos Venizelos and each minister involved. The government's aim is to avoid lay-offs as a result of the changes but the issue was not raised during the meeting since talks between Venizelos and ministers were still pending. The sources said that announcements concerning this issue will be made by August 5.
The meeting also discussed the European Commission's decision to set up a working team to provide technical assistance to Greece in accelerating absorption of Community funds from the NSRF.
On the issue of privatisations, it was confirmed that these will go ahead and that there will be a special session of the cabinet with a briefing by Venizelos on the conditions for privatisations.
Concerning the state broadcasting organisation ERT, announcements concerning its restructuring that will also concern the entire media sector are to be made by the appropriate minister on August 15, with sources stressing that ERT's permanent staff will not be affected.
Before chairing the cabinet meeting, Papandreou had also chaired a meeting of the government's financial team on speeding up collection of taxes and a reorganisation of tax offices and tax systems.

(ana.gr)

 

[tommy271]

Scheme for illegal properties unveiled

The government on Thursday submitted to Parliament a bill allowing owners of illegal properties to pay fines to protect their homes from demolition, which prompted some critics to accuse PASOK of trying to introduce the measure simply to raise money.
“Our choice is as follows: We ignore the real situation and let people live with a threat hanging over their heads or we try to apply some rules,” said Environment Minister Giorgos Papaconstantinou, whose department drew up the bill.
“We have decided to confront the problem.”
The bill allows owners of properties that have either not been built within the legal requirements or which have not been constructed with a permit, even those currently involved in legal disputes with the state, to pay a fine to protect their homes from demolition for 40 years.
The size of the fine will be calculated by multiplying the number of square meters that have been built illegally by the property prices set for each area by the local tax office. This will then by multiplied by 15 percent. Finally, the amount will be multiplied by a figure determined by a sliding scale of offenses.
So, if a building has been constructed without a permit, the total will be multiplied by three. If the offense is one of building beyond the town plan, the total will be multiplied by two. If the property is the owner’s main residence, the factor will be 0.5. There are a range of other offenses that relate to the degree to which building regulations have been violated.
Homeowners will have to pay between 500 and 2,000 euros when they submit their applications. The fines will have to be paid in 24 to 36 monthly installments.






ekathimerini.com , Thursday Jul 28, 2011 (23:04)

 

[tommy271]

Could China be white knight?



FinMin suggests a third country could fund the state’s debt buyback mechanism

The government came a step closer to securing funding from China on Thursday in order to support the public debt buyback mechanism in the secondary market.
Addressing Parliament’s Financial Affairs Committee, Finance Minister Evangelos Venizelos stated that he had been in talks with China’s representative in the International Monetary Fund, before adding that “a third country would allow the creation of a third pillar that could fund the public debt buyback mechanism in the secondary market.”
Venizelos told deputies that the Chinese representative asked him: “Where do countries such as China that may hold bonds belong? The private or the public sector?”
Sources suggest that a country or a group of countries can set up an investment fund and lend to Greece at a low interest rate so that the country can buy bonds from the secondary market. In theory the buyback mechanism can be supported by funds from a third country to complete part of the buyback process.
Venizelos also stressed that Greece is considerably relieved because “up to 2020 we willhave our backs covered regarding our need to pay back the international private sector.” He added that the new loan contract will also apply to the part of the first loan that has not been disbursed yet. This means that the 45 million euros from the original 110-million-euro package will come with the lower new interest rate. The maturity of the funds already disbursed, based on loans between states and not through the European Financial Stability Facility (EFSF), will be extended further.
However, Venizelos signaled a change in the privatization policy, telling the committee that the state may maintain its 34 percent state in gaming company OPAP, one of the country’s most profitable firms.
“With the changes on the way, we now have a different environment that is strengthening OPAP very much. We will see to it that OPAP is strengthened and then decide what is the best way for us to utilize it,” Venizelos told the committee, which discussed the bill for the regulation of games of chance in Greece.
This is seen as a step back from the midterm fiscal plan that Venizelos himself had brought to Parliament just a month ago, which provided for the sale of the 34 percent stake in the last quarter of this year.
This process appears now to have been put back, with market estimates putting the sale date for the holding in OPAP in the last quarter of 2012.






ekathimerini.com , Thursday Jul 28, 2011 (22:25)

***
Importante, da leggere.

 

[tommy271]

Tax offices told to halt payments

By Prokopis Hatzinikolaou
The government ordered tax offices on Thursday to stop making any payments until next Monday in an effort to make its budget figures look better.
Following orders from the political leadership of the Finance Ministry, the general secretary for tax and customs affairs, Yiannis Kapeleris, sent a circular to tax authorities asking them not to pay any salaries or tax returns on Thursday and Friday, putting off all obligations until August 1 or later.
Ministry sources suggest that returns in the last days of every month amount to hundreds of millions of euros, which would make the revenues picture in the first seven months less positive than it was until Wednesday.






ekathimerini.com , Thursday Jul 28, 2011 (23:16)

 

[robinson]

Nulla di fatto in USA.
Boooooorn in the u-s-aaaa born in the usa....

Pessimi segnali x la seduta di oggi per la maggio 2012, interessante l'articolo del sole 24 ore postato, praticamente conferma quanto detto fino ad oggi.
Per noi nessuna certezza ancora, ma possibilità di rimborso a 100 se la Grecia ce la fa, se non ce la fa haircut 50% (forse), quindi prepariamoci al peggio e cioè al tracollo della 2012 verso 50 almeno fino a gennaio 2012, sic stantibus rebus.
Se poi tutto andrà bene il 50 non lo vedremo mai.
Ancora di "salvezza" lanciata, per ora, con le 4 opzioni, solo alle grosse banche che accetteranno un 21% di loss.

Vista la situazione USA, oggi possibile un bel -2,40%.

Altrimenti ci si abitua male.

OT.
E finmeccanica?

Vado a prendere l'autobus.

quindi nello scenario che il Sole24ore prospetta l' haircut del 21% alle banche in realtà è stato offrire loro una scialuppa di salvataggio; ed il retailer che sul ponte del titanic festeggia ancora che nell' incontro di giovedì scorso non è avvenuto il temuto haircut del 50%, una volta che le banche si sono tolte di mezzo, verrà tosato al 50%!

Spero siano solo illazioni di quel giornalista (con che coraggio va a scrivere queste cose!)... ma come sempre, mai possiamo prendere fiato; sempre con l' elmetto in testa a proteggerci dalle pallottole che arrivano...

Nonno Trichet, se così sarà, aggiungi un posto a tavola; verrò a mangiare e a dormire a casa tua.

 

[tommy271]

Tensioni molto forti sullo Spread Italia a 335 pb., quello greco non è ancora indicativo ma siamo sulla mediana di ieri a 1240 pb.

 

[PASTELLETTO]

quindi nello scenario che il Sole24ore prospetta l' haircut del 21% alle banche in realtà è stato offrire loro una scialuppa di salvataggio; ed il retailer che sul ponte del titanic festeggia ancora che nell' incontro di giovedì scorso non è avvenuto il temuto haircut del 50%, una volta che le banche si sono tolte di mezzo, verrà tosato al 50%!

Spero siano solo illazioni di quel giornalista (con che coraggio va a scrivere queste cose!)... ma come sempre, mai possiamo prendere fiato; sempre con l' elmetto in testa a proteggerci dalle pallottole che arrivano...

Nonno Trichet, se così sarà, aggiungi un posto a tavola; verrò a mangiare e a dormire a casa tua.

No, aspetta, l'hai preso al negativo.
Oggi pronto a disfarmi del mio ETF MIB.
Se vi dico cosa ci compro (da tenere negli anni) vi viene da ridere.

 

[tommy271]

quindi nello scenario che il Sole24ore prospetta l' haircut del 21% alle banche in realtà è stato offrire loro una scialuppa di salvataggio; ed il retailer che sul ponte del titanic festeggia ancora che nell' incontro di giovedì scorso non è avvenuto il temuto haircut del 50%, una volta che le banche si sono tolte di mezzo, verrà tosato al 50%!

Spero siano solo illazioni di quel giornalista (con che coraggio va a scrivere queste cose!)... ma come sempre, mai possiamo prendere fiato; sempre con l' elmetto in testa a proteggerci dalle pallottole che arrivano...

Nonno Trichet, se così sarà, aggiungi un posto a tavola; verrò a mangiare e a dormire a casa tua.

Personalmente non ho capito il senso di quell'articolo .
Che interesse avrebbe la Grecia ad effettuare un haircut del 50% sui titoli rimanenti (molto pochi) per poi vedersi chiudere per anni e anni i mercati finanziari quando può raccogliere il tutto facendo un buy-back a prezzi poco superiori ed in tutta tranquillità.

 

[PASTELLETTO]

Personalmente non ho capito il senso di quell'articolo .
Che interesse avrebbe la Grecia ad effettuare un haircut del 50% sui titoli rimanenti (molto pochi) per poi vedersi chiudere per anni e anni i mercati finanziari quando può raccogliere il tutto facendo un buy-back a prezzi poco superiori ed in tutta tranquillità.

Per quello dicevo che l'aveva preso al negativo.
Cioè, parecchie cose devono ancora andare storte, prima di un HC di 50 sul nominale al retail e poi per poterlo attuare, ci deve essere stata una mancata adesione da parte del retail all'alternativa che eventualmente verrà proposta.
E' lo scenario peggiore.