Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (2 lettori)

[tommy271]

Anche secondo me saranno migliori....ci sono tutte le entrate turistiche

...e credo faranno il pieno quest' anno

Conosco un sacco di gente che andava quest' anno......approfittando

Moltissimi consigliati da me

A parte il turismo che certamente avrà tratto vantaggio, ci sono poi i buoni dati della Bilancia Commerciale.
La disoccupazione è in aumento ma il PIL, pur rimanendo in calo, dà qualche segno di vivacità.
Come ripeto, l'obiettivo non è stato centrato ma il calo non è superiore rispetto al Primo Trimestre.
Certamente sarebbe stato meglio centrare gli obiettivi ... ma in linea di massima il programma procede.
Il 22 arriverà la delegazione della Troika per dare il benestare alla Tranche di Settembre, a quel punto vedremo l'avanzamento dei lavori.

 

[tommy271]

Job creation moves to local level





The right to hire workers on short-term contracts for public works and infrastructure projects is going to be passed to municipalities again as part of a three-year plan to reduce skyrocketing unemployment.
Deputy Interior Minister Paris Koukoulopoulos revealed Tuesday that the program should provide at least short-term employment for up to 100,000 people over the next three years.
Some 3 billion euros will be provided for the projects. Of this, 1.5 billion euros will be from a loan by the European Investment Bank, while the rest of the money will come from municipal and European Union funds.
The scheme represents a significant departure from recent practices as municipalities will be allowed to hire the workers to be employed on these projects. They had been banned from doing this since 2005 as it was deemed that local officials were taking advantage of the fact that they were being allowed to hire personnel directly instead of going through the Supreme Council for Civil Personnel Selection (ASEP) to employ candidates based on personal and political connections.
“These projects will serve to boost employment and will give unemployed people, chiefly from the construction trade, some hope,” said Koukoulopoulos. All the people employed under the scheme will be paid 625 euros a month.
The recently published unemployment figures for May showed that the jobless rate had risen to 16.6 percent, meaning that more than 820,000 people are out of work. The worst-hit region was Western Macedonia, with a 24.9 percent jobless rate.






ekathimerini.com , Tuesday August 16, 2011 (22:39)

 

[tommy271]

Mixed bag from Paris for Greece



Sarkozy and Merkel shelve Eurobonds but back financial transaction tax

Greece’s hopes that German Chancellor Angela Merkel and French President Nicolas Sarkozy would take a decisive step toward launching Eurobonds at a meeting in Paris on Tuesday were dashed but the two leaders backed a financial transaction tax in the eurozone, which Premier George Papandreou has said he is in favor of.
Merkel and Sarkozy said they were determined “to defend the euro” and called for closer economic governance among the 17 countries that use the single currency. They proposed that European Council President Herman Van Rompuy chair meetings of eurozone officials twice a year to ensure members are doing their utmost to keep their public finances in order.
The two leaders threw their weight behind the idea of introducing a financial transaction tax, which Greece has supported strongly over the last few weeks. “The French and German finance ministers will table a joint proposal at the EU level next September for a tax on financial transactions,” said Sarkozy. “This is a priority for us.”
Merkel, however, said that a common bond, or Eurobond, which would allow the 17 countries to pool their debt risk, would only be considered as a “last resort.” Sarkozy said, “Eurobonds can be imagined one day.”
“What we are proposing here is the means with which we can solve the crisis right now and win back trust, step by step… I do not think Eurobonds will help us in this,” said Merkel.
There was no official comment on the Paris talks, which were being watched closely by the prime minister, from the Greek government by late last night. Papandreou is due to call a cabinet meeting on Thursday in a bid to get his ministers to shift their focus back to domestic matters.
The premier will have to contend with domestic issues of another kind over the next few days as well. His party is due to hold its national congress on September 3 and then Papandreou is due to deliver the prime minister’s customary economic policy speech at the Thessaloniki International Fair on September 10.
However, before that he may have to deal with fresh disquiet within PASOK about the austerity measures being adopted, particularly the further cuts facing civil servants. A member of PASOK’s political council on Tuesday accused the government of “losing touch with reality” and adopting measures that are “nearly wiping out Greek society.”






ekathimerini.com , Tuesday August 16, 2011 (23:20)

 

[tommy271]

Bank deposits rebound in August

By Evgenia Tzortzi
Bank deposits in Greece are showing signs of a rebound this month for the first time in the last couple of years, as customers are responding positively to last month’s news about a second bailout for Greece, reinforcing trust in the local system.
At the same time, uncertainty about the Cyprus economy has resulted in many Greeks withdrawing their deposits from its banks and bringing them back to Greece, taking the inflow of funds to about 1.5 billion euros in the last three weeks, Bank of Greece Governor Giorgos Provopoulos told Finance Minister Evangelos Venizelos during a meeting on Tuesday.
This means that August may well prove to be the first month with a positive balance of capital inflows, after total deposits in the local banking system had shrunk to 249.4 billion euros in June from 280.2 billion euros last December.
Some of the deposits are from the general government sector, amounting to 9.1 billion euros at the end of June, official data indicate.






ekathimerini.com , Tuesday August 16, 2011 (22:52)

***
Qualche altro segnale positivo.

 

[Baro]

Bentornato Tommy !!

 

[tommy271]

Bad checks, unpaid bills of exchange stifling the market

By Dimitra Manifava
Rubber checks soared by over 43 percent year-on-year in the first seven months of 2011, asphyxiating the market further as credit lines continue to dry up.
Data released yesterday by the Tiresias bank information system showed that bounced checks in the year to July amounted to 1.38 billion euros, up by 43.3 percent from the same period in 2010, while unpaid bills of exchange rose to 86,257 units, totaling 134,476,048 euros and representing a 6.47 percent increase compared to last year.
Given the growth in bad checks and the deepening recession in the real economy, it is almost certain that their total amount will exceed 2 billion euros by the end of the year.
A survey by the General Confederation of Greek Small Businesses and Traders (GSEVEE) has shown that just under half of the companies that make transactions through checks possess checks that have already bounced (37.9 percent) or are at risk of doing so (7.3 percent).
This phenomenon, which is set to grow, is causing a chain reaction in the market as it is also threatening the existence of healthy enterprises.






ekathimerini.com , Tuesday August 16, 2011 (22:55)

***
Assegni "cabriolet" ...

 

[tommy271]

Bentornato Tommy !!

Ciao Baro, devo ancora "carburare" ...

A proposito di carburatori ... sull'autostrada ho visto diversi TIR made in Greece. L'export tira ...

 

[tommy271]

Finnish contribution rendered void



Greece will get loan of 1 billion euros but will return it with no favorable terms and with full interest

By Sotiris Nikas
Greece and Finland agreed on Tuesday to virtually cancel the latter’s participation in the former’s second bailout package, following three days of negotiations between Finance Minister Evangelos Venizelos and his Finnish counterpart Jutta Urpilainen.
Finland’s share in the 109-billion-euro package amounts to about 1 billion, which Helsinki will pay to Greece but Athens will repay it through a new loan contract to be signed for this purpose and which will be valid for the next 25 years (likely to be the maturing period of the new loans, too).
This means in practice that Finland’s contribution to the new package will be returned in full and deposited in a special account to be created by the Finnish government.
The 1 billion euros will be returned by 2036 with full interest provided Greece meets its targets, otherwise the 1 billion will automatically revert to Finnish possession.
The reason for the agreement was the considerable opposition in Helsinki to the supply of any kind of financial assistance to Greece, after the Finnish government was elected on its pledge to secure collateral from Greece for any new loans.
Urpilainen confirmed yesterday that the two countries came to an agreement on the supply of collateral, which will need approval from European Union officials. Sources suggested that as Greece did not want to supply collateral such as state properties to get new loans, Venizelos proposed the creation of the aforementioned scheme, which in effect disengages Finland from its pre-election pledge regarding Greece’s package. Greece, for its part, may be losing out on 1 billion euros but does not run the risk of a rejection of the eurozone summit decisions from July 21, which could have stalled the whole package.
Venizelos stated that the scheme created “does not include any assets,” adding that the details will be sorted out toward the end of the week by the representatives of Eurogroup ministers, known as the Euro Working Group.
Meanwhile Athens is continuing to apply pressure on other eurozone governments in order to secure the fastest approval possible for the July 21 decisions, regarding the expansion of competences of the European Financial Stability Facility (EFSF), with Venizelos speaking on the phone to a number of his colleagues, including Germany’s Wolfgang Schaeuble.






ekathimerini.com , Tuesday August 16, 2011 (22:44)

 

[tommy271]

The Two Clear Messages Of Merkel-Sarkozy Meeting



The leaders of the two most robust economies in the Eurozone decided on the future but not the current debt crisis of the region at a meeting yesterday in Paris.

All decisions concern the future of the Eurozone, but only if both Angela Merkel and Nicolas Sarkozy maintain leadership.

Both the prospect of promoting a scheme of “economic governance”, and the application of a tax on financial transactions and the Eurobond concern the long-term prospect of the Eurozone, not its present.

Let alone, they did not address the debt crisis, and the ECB remains the only player by buying Italian and Spanish bonds to restrain the market pressures.

The European rescue fund EFSF, which according to EU decisions on July21 is planned to substitute ECB in supporting and guarantying sovereign debt, is held without any increase of capacity (€440 billion, while the Italian debt alone reaches €2 trillion).

What was clear was that Nicolas Sarkozy announced tax harmonization of his country with Germany and adoption of German terms for a future issue of Eurobond.

The second message of the meeting was that at the number of member states of the Eurozone would probably change, because the conditions for participation in the “new” and more “united” Eurozone requires rapid fiscal consolidation, balanced budgets and centralized economic governance from the strongest members.

Not all Eurozone members could fulfil these terms, as already Greece, Portugal and Ireland are off the track, due to debt and recession, and is almost impossible to make it before the deadline of 2013.

Moreover, if market pressures drag more countries in the same situation in the coming weeks, then it is obvious that the two leaders had another EMU in mind.

The capital markets would begin to interpret these messages and turn them into specific pressures, trying to profit from the Eurozone’s Achilles heels.


(capital.gr)

 

[tommy271]

Marathon Meetings Ahead Of Troika Arrival



Greek FinMin Evangelos Venizelos started a round of successive meetings with deputy ministers, general secretaries and senior officials on Tuesday in order to find ways to cover the gap of €3.4 billion in revenue and €1.1 billion in expenditure.

Today, the focus is on privatizations, since the objective of €1.3 billion within the next 40 days is considered –along with the shrinking of deficit- the two essential conditions for the next installment, released in September.

The agenda would probably include the meeting with the Governor of the Bank of Greece Giorgos Provopoulos, which would not concern just the banking sector and participation of private investors, according to officials. It extends to advices and recommendations for all decisions that the government has to make but also for the frequent teleconferences that take place between the Finance Ministry and its European counterparts or international organizations (IIF, IMF, EU).

The target is to finalize as many pending issues possible before the arrival of the troika next week. Troika monitors are expected on August 22, but the senior officials would arrive no earlier than August 29 to sign the new Memorandum of Understanding.

Meanwhile, the government is asked to:

*raise €1.3 billion through privatization of gambling companies and right. However, there is concern about the negative course of the stock valuations.

*decrease the gap of €€.4 billion in revenues in July 2011.

*implement the reforms in SOEs within August and announce the plan of the new payroll.

*implement the laws that it adopts, with the liberalization of professions being the most important.

(capital.gr)