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

[russiabond]

Cosa intendi per mancanza di tempo?

Su base volontaria nessuno (o quasi) accettara' mai. Io non accetterei.

Grazie per la risposta.

La prima offerta , che si chiuderà a fine mese con swap a settembre e riservata alle Banche , doveva essere fatta ed è stata fatta in fretta ...

per dare una risposta sia ai mercati che per trovare una strada per la Grecia ...

per coivolgere anche il retail ...ci voleva più tempo ed infatti sono stati lasciati fuori ...se l'adesione sarà bassina ...prenderanno tempo anche per il retail...si discuteva non so se qui o sul FOL che l'offerta ai privati necessariamente doveva avere dei tempi più lunghi ...per via dei vari prospetti di adesione - informative e via discorrendo ...

il riferimento alla mancanza di tempo era ...sulla scadenza maggio 2012 ...dove io sono piazzato ...

se l'adesione viene "incentivata" in qualche forma chi ha speso 50/100 ...se anche incassasse 65-70 porterebbe di corsa a casa ...

certo chi ha carichi "alti" ...se li tiene ...

vedremo ...l'importante è che non mischino le carte nuovamente ..ma non credo che lo faranno ..almeno nel breve ...ecco perchè punto a scadenze "brevi"...

 

[robinson]

Fantastico!

L' Italia come la Grecia:
Tremonti che fa la parte di papandreou
e... il PDL che, pur al governo!!!!, fa la parte di N.D.,
ossia dell' opposizione.
Da non crederci!

"Quattro parlamentari della maggioranza, Stracquadanio, Crosetto, Malan e Bertolini, annunciano: «L'intervento del ministro? Deludente. Sempre la solita ricetta: tasse, tasse e ancora tasse» "

dietro questi 4 ci sarebbe ben l'80% dei parlamentari del PDL.

In Grecia Papandreou l' ha spuntata;
cosa succederebbe in Italia se l' 80% dei parlamentari del PDL
votassero contro la manovra, (diciamocelo pure targata BCE/Merkel-sarkozy),
ma senza la quale... la BCE ritirerebbe la sua partecipazione al sostegno dei btp???

In Grecia per fortuna ND era all' opposizione (e l' ha spuintata la maggioranza di papandreou),
ma.... in Italia il PDL è la maggioranza:
mmmmhhhhhh!!!!!!

scusate quello che può sembrare un OT, ma le analogie col caso greco mi sono sembrate tali da postare qua queste riflessioni.

 

[giutrader]

Per cortese concessione di PaoloGorgo... C'è qualche numero utile, su quanto ti ha detto il tuo amico non rammento di avere letto alcunché...

Ti ringrazio per aver postato questi due allegati davvero davvero molto interessanti.

 

[tommy271]

FinMin: VAT Rate Increase Unfair But Necessary




The Greek government seeks a way to deal with the social reactions when it starts to implement the new tax measures in early autumn.

In response to the severe reactions caused by the imminent increase in VAT rate to 23% at the restaurants, tavernas and fast food stores, on Wednesday FinMin Evangelos Venizelos reiterated that at the process of developing a new tax system there would be an attempt to decrease VAT rates, provided that equivalent resources would be found and revenues have been improved. The new tax system is expected to be ready in early September.

For this reason, he publically called “unreasonable and unfair” the rise of VAT rate. It is a temporarily necessary measure, as the country has to be consistent with its obligations, Venizelos told Greek radio station Real FM.

He also referred on the voting of the new loan agreement in September. Given that the Prime Minister refused twice to adopt Venizelos’s proposal for increased majority of 180 votes, the Minister decline to reinstate directly and chose to go on the side track, not ruling out any possibility. But, “I believe that ND (main opposition party) has not forgotten that it has been supporting the country’s participation in Europe”.

New Democracy party preferred to focus on the disclosure of the state budget execution in January-July 2011. Finance officials of the party issued a harsh statement, speaking of failure and “government alchemy” in order to make the deficit appear smaller.

(capital.gr)

 

[tommy271]

6th Aid Tranche to Greece at Stake




There is growing doubt about the release of the next aid tranche to Greece in September and the new loan. Greek FinMin Evangelos Venizelos admitted on Wednesday that the completion of negotiations is not expected sooner than late September, however he said that the extension of maturity (and value) of bonds beyond 2020 is possible.

The same applies to the role of the European rescue fund EFSF. The proposal is still under preparation by the European services and the approval by national parliaments has been postponed for next month.

Meanwhile, the crisis expands and publications for inability to support Greece were released again yesterday.

Under these conditions, Greece is likely to have to make do with the loan of €110 billion. However, the data in this view has also changed.

On the domestic front, facing large revenue shortfalls and delays in the implementation of the MoU, the government would attempt next week to convince the troika that it should receive the money.

It also has to address a new wave of social reactions, as the civil servants and taxi drivers have already announced protests, while fears have been expressed about an expansion of British turmoil.

On the external front, it is still unknown how many EU counties could contribute to the sixth aid tranche, given the contagion of the crisis. It is also unknown whether the IMF would participate given the constraints of its stature.

Analysts explain that the reactions of the EU political leaders in the coming days would be critical, estimating that if they let the crisis to drag by September, a new larger attack would occur on the markets.

Still, Greece could gain from a possible decision on coordinating policies, Eurobond, EFSF enhancing, but nothing is for granted.

Germany continues to oppose against the strengthening of EFSF, while Fitch downgrade Cyprus and fear of France’s downgrade leads to austerity measures.

(capital.gr)

 

[tommy271]

Greek Unemployment Rate Rose At 16.6% In May




Unemployment rate in May 2011 was 16.6% compared to 12.0% in May 2010 and 15.8% in April 2011, according to the Hellenic Statistical Authority (ELSTAT). The number of employed amounted to 4,131,528 persons while the number of unemployed amounted to 822,719 and the number of inactive to 4,383,374, said ELSTAT in a statement.

According to the agency, the number of employed decreased by 299,798 persons compared with May 2010 (a 6.8% rate of decrease) and by 51,804 persons compared with April 2011 (a 1.24% rate of decrease).


Unemployed increased by 220.534 persons (a 36.6% rate of increase) compared with May 2010 and by 36,260 persons compared with April 2011 (a 4.6% rate of decrease).

(capital.gr)

 

[tommy271]

EU: Not Discussing Any Rescue Plans For Cyprus




An EU spokesman said on Thursday that European Union is not discussing any rescue plans for the country, according to Dow Jones Newswires.

Fitch Ratings downgrade Cyprus’s long-term foreign and local currency issuer default ratings by two notches on Wednesday, citing fiscal slippage and the prospect that the island nation will need to be bailed out if borrowing costs stay at current high levels.

Regarding France, the spokesman said that the country’s credit outlook remains stable, despite rumours of a potential credit rating downgrade.

“There were no fears for France΄s rating and the outlook remains stable. You need to take into account the declarations made by the ratings agencies," he noted. "The declarations have more weight than rumours."

(capital.gr)

 

[tommy271]

ASE Slid To New Lows




Athens Stocks failed to move aligned with the European bourses and Wall Street’s positive opening, as equities and indices were dragged into new losses and lows.

Banks, which moved into a margin of 33.5 units or 4.79%, closed with losses of 1.54% at 689.48 units. National Bank ended close to session low at €3.95% (-3.42%), with the fourth largest volume (6.51 million units) since early July.

In FTSE20, PPC share ended in positive territory for the first time since July 26, having recorded cumulative losses of 38.94% in 11 meetings.

Market analysts note that the climate across the Greek board remains negative and the risk sentiment almost zero, reiterating that the market is still in search of a random reaction point.

They also estimate that strong fluctuations with no clear direction should be expected at Friday’s session, without excluding and selective purchases of large caps besides banks, if the U.S. market manages to show a more positive and stable outlook.

On the board, the General Index ended at 976.17 units with losses of 0.60%, despite early profits of 0.93%, while intraday losses reached 2.44%.

On Thursday, 28.48 million units worth €66.55 million traded, while a total amount of 98 shares declined, 42 rose and 140 remained unchanged.

ATEBank topped FTSE20 with profits of 5.97% at €0.71, while OTE and OPAP followed with gains of 2.78% and 2.26% at €4.44 and €9.50 respectively. Piraeus Bank rose by 1.45%, while Eurobank, Alpha Bank and ELPE move slightly upwards by 0-35%-0.45% at €2.24, €2.61 and €5.78 respectively.

On the other hand, Motor Oil and Ellaktor suffered heavy losses of 4.4% and 3.9% respectively, while National Bank ended down by 3.42%. Jumbo and Hellenic Postbank fell by 2.56% and 2.17% respectively, while Mytilineos and Bank of Cyprus declined by 1.84% and 1.65% respectively.

(capital.gr)

 

[tommy271]

Social security fraud targeted

About 1,400 people could face legal action for continuing to collect the monthly pension payments of relatives who have died, it was revealed on Thursday.
Officials at the IKA social security fund, Greece’s largest, had spent the last few months going through the records of pensioners born before 1920 and found that in some 1,400 cases, the recipients had died but their spouses or children continued to collect their retirement benefits.
IKA said yesterday that it has stopped the payments and will now begin proceedings to recover almost 1.9 million euros that was wrongly paid to these families. Branches of the fund around the country have been ordered to take legal action against the people who were collecting the money under false pretences.
The fund said that it would continue its checks and that it has set up an annual audit of all IKA pensioners to avoid errors in the future. All social security funds are conducting similar checks as part of an effort to slash waste in line with broader public spending cuts.
Authorities have also begun checks on incapacity benefits. Last month, it was revealed that an unusually high proportion of residents on Zakynthos were registered as being blind. Deputy Health Minister Markos Bolaris said on Thursday that checks had revealed a “high number” of suspicious claims.
He gave the example of residents of Livadia, central Greece, claiming they were suffering from serious cases of asthma, for which they received benefit payments, but at the same time they were employed by the local municipality.
“Benefit payments are the money of the Greek people,” said Bolaris, who did not rule out the possibility of taking legal action to recover any funds that were paid out as a result of fraud.
The Health Ministry is in the process of creating a national electronic database of incapacity benefits. It is expected that this will lead to savings of some 250 million euros, Bolaris said.
ekathimerini.com , Thursday August 11, 2011 (22:53)

 

[tommy271]

ECB to charge Cyprus higher collateral haircut

Cyprus government bonds used as collateral in the European Central Bank's refinancing operations will be given an extra 5 percent discount after rating agency Fitch downgraded the country's rating, according to the ECB's rules.
Fitch cut Cyprus' credit rating by two notches to BBB on Wednesday due to fiscal slippages, saying the island state was likely to require a bailout to meet its funding needs.
The other two main rating agencies, Standard & Poor's and Moody's, both cut the island's rating at the end of July. Moody's rates Cyprus Baa1, Standard and Poor's BBB+.
The ECB accepts government bonds as collateral at market value minus a haircut, or discount, of between 0.5 and 8.5 percent depending on outstanding maturity, as long as at least one credit rating agency rates the country at A- or better.
When the best rating is lower than that -- as is the case with Cyprus now -- the ECB charges an additional haircut of five percent.
Greek and Portuguese government bonds are also subject to the same discount, but Ireland escapes this as a fourth agency used by the ECB, DBRS, rates it A. [Reuters]
ekathimerini.com , Thursday August 11, 2011 (12:14)