Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (3 lettori)

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tommy271

Forumer storico
Merkel Ally Seehofer Says Greek Euro Exit Possible, Bild Says


By Brian Parkin - Sep 7, 2011 7:50 AM GMT+0200 Wed Sep 07 05:50:05 GMT 2011


Horst Seehofer, Bavaria’s prime minister and Christian Social Union chairman, said Greece’s exit from the euro is “possible,” though he would prefer it to remain in the single currency by boosting efforts to cut debt, Bild newspaper reported, citing an interview.
Seehofer, whose CSU is one of three parties in Chancellor Angela Merkel’s coalition, said he has “considerable doubt” that Greece and Italy have earnest intentions to cut spending, according to Bild.

(Bloomberg)

***
Un pò di benzina sul fuoco ...
 

tommy271

Forumer storico
EU turns up pressure on Greece



Minister heralds quicker privatizations, reforms after EU officials express ‘annoyance, reservations’



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Finance Minister Evangelos Venizelos on Tuesday heralded the faster implementation of a stalled privatization program and structural reforms as rumors swirled about the possible need for additional austerity measures following comments by top-ranking European Union officials who emphasized that Greece would not receive a sixth tranche of emergency loans unless it satisfies the demands of its creditors.
In a televised address, Venizelos said the first batch of state assets would be transferred into a privatization fund on Wednesday. The first wave of privatizations foresees the sale of stakes in the Public Gas Corporation (DEPA) and in Hellenic Petroleum (ELPE), an extension to the lease of Athens International Airport and an extension to the license of the Horse Racing Organization of Greece (ODIE).
Venizelos also set the scene for wage cuts and dismissals across the public sector by saying that an agreement between Greece and its creditors to put surplus staff in the civil service on labor standby status for 12 months, receiving just 60 percent of their basic salary, would apply to the broader public sector.
Earlier in the day, addressing fellow ministers during a cabinet meeting, Venizelos said that officials of the European Commission, European Central Bank and International Monetary Fund, known collectively as the troika, had expressed “annoyance and reservations about our willingness to push through with reforms because we have been dragging our feet.”
The minister added that the troika “have accepted the shortfall in revenue but not the delays in reforms.”
The minister’s comments followed statements by EU officials earlier in the day, notably those of German Finance Minister Wolfgang Schaeuble, who told a German parliamentary budget debate that Athens would not receive the next tranche of aid from foreign lenders - an 8-billion-euro installment upon which the country’s solvency depends - unless the troika issues a positive report on Greece’s efforts at reform and fiscal adjustment. “They must understand this in Greece, there is no scope for other decisions,” Schaeuble said in an apparent reference to attempts by Greek officials to renegotiate the goals of a multi-billion-euro bailout plan. According to sources, German Chancellor Angela Merkel also said that the 8-billion-euro tranche should be revoked if Greece fails to make good on pledges to its creditors.


ekathimerini.com , Tuesday September 6, 2011 (22:36)
 

tommy271

Forumer storico
Bond swap plan still developing





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The Greek government bond rollover plan will succeed in attracting a high degree of private sector involvement (PSI) when investors acquaint themselves with the full range of options available, the head of the Institute of International Finance (IIF), Charles Dallara, said on Tuesday.
Initial discussions with investors have been encouraging, and we remain optimistic that any obstacles will be overcome and an agreement will be reached so that the program makes progress,” he told a press briefing in Washington.
Greece said last week that it would not go ahead with its bond swap plan if PSI does not reach 90 percent. Estimates put the level to date at 60-70 percent.
Dallara recognized that several challenges lie ahead for an agreement to be reached, “which are mainly related to political alignments within Europe.” He added that the IIF is currently exchanging information with supervisory authorities and private investors in a number of European countries regarding the various options.
The process is expected to last a few weeks, and then participation will be especially strong,” he said.






ekathimerini.com , Tuesday September 6, 2011 (22:23)
 

tommy271

Forumer storico
Minister revs up reforms drive



Venizelos says privatizations to spearhead immediate push for changes



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The crisis provides Greece with an opportunity to change the image of the country and regain the place it deserves in European and world markets, Finance Minister Evangelos Venizelos said after a cabinet meeting on Tuesday.
“For this to happen, we must change the way the state, the economy and society work. Otherwise, we will remain bogged down, we will not be able to give new generations the opportunities the previous ones had... we have to give the Greek citizen the opportunity to feel proud again,” he stated.
Venizelos said Greece is not the European Union’s permanent lame duck, but rather that it is an equal, competitive country which has problems regarding its public debt and deficit that require structural measures to be overcome.
We need to send a clear message that Greece will honor and fully implement what it has accepted and voted through,” he said.
The Cabinet adopted final decisions regarding the structural measures, “on which the future of our country hangs.”
The first phase of privatizations, which targets the collection of 5 billion euros within 2011, will be expedited immediately, Venizelos said. This phase includes, among others, the extension to the license of betting company OPAP, the extension of the concession for Athens International Airport, and the sale of a stake in the Public Gas Corporation as well as the government’s remaining 20 percent holding in Hellenic Petroleum.
We are proceeding immediately. These specific public assets will be transferred to the special privatizations fund tomorrow,” he stated.
Earlier, Venizelos had promised that the revenue targets of the privatization program will be met. The targets are 1.7 billion euros by the end of September and about 5 billion by the end of the year.
The program for merging or shutting down public departments and agencies will be intensively pursued in the next few weeks, he added.
The Cabinet also decided upon the immediate activation and extension of the “labor standby” scheme in the public sector, which will receive surplus staff at lower pay. Venizelos did not rule out layoffs in the public sector. He also promised further changes in the labor market and the full opening of closed-shop professions.


ekathimerini.com , Tuesday September 6, 2011 (22:40)
 

tommy271

Forumer storico
Vi ho anche cercato l'articolo di "Imerisia" sullo swap ... in traduzione googoliana:



Rapido aumento tasso di partecipazione al programma di scambio volontario di titoli di Stato greco, e secondo le ultime informazioni, fino a ieri, era salita al 75% senza la partecipazione dei Fondi, che è imminente e corrisponde al valore di legame totale di 25 miliardi di euro.
Οικονομικοί παράγοντες της χώρας εκτιμούν ότι η κυβέρνηση θα επιτύχει τον αρχικό στόχο της συμμετοχής του rollover στο 90% και την Παρασκευή, 9 Σεπτεμβρίου οι ανακοινώσεις αναμένεται να προσδώσουν ένα σημαντικό «πετραδάκι» στην αποκατάσταση της εμπιστοσύνης στη χώρα.​

I fattori economici nel paese credono che il governo si raggiungerà il suo obiettivo iniziale di ribaltamento a 90% e Venerdì 9 Settembre annunci dovrebbe dare un importante "mattone" per ripristinare la fiducia nel paese.
Τις πληροφορίες επιβεβαιώνει ο επικεφαλής του Διεθνούς Ινστιτούτου Χρηματοοικονομικών Τσαρλς Νταλάρα, ο οποίος τόνισε ότι «θα υπάρξει πολύ ισχυρή στήριξη από τον ιδιωτικό τομέα στο σχέδιο ανταλλαγής ομολόγων της Ελλάδας».

L'informazione è stata confermata dal capo dell'Istituto Internazionale delle Finanze Charles Dalaras, il quale ha sottolineato che "ci sarà un sostegno molto forte da parte del settore privato alle obbligazioni progetto di scambio della Grecia".
Ο Τσαρλς Νταλάρα, τόνισε ότι είναι βέβαιος πως θα αυξηθεί τις επόμενες εβδομάδες η συμμετοχή στη συμφωνία για την ανταλλαγή των ομολόγων, στοιχείο ζωτικής σημασίας για να στεφθεί με επιτυχία το ελληνικό πρόγραμμα χρηματοδότησης.

Carlo Dalaras ha detto che è sicuro di salire la prossima settimana per partecipare all'accordo di scambio il legame che è essenziale per il successo nel project financing greca.

Τσαρλς Νταλάρα​
Charles Dalaras

Ο επικεφαλής του IIF δήλωσε παράλληλα ότι μπορεί να υπήρξαν κάποιες αποκλίσεις, αλλά σε γενικές γραμμές η ελληνική κυβέρνηση έχει δεσμευτεί για την εφαρμογή του προγράμματος, με στόχο τον περιορισμό του χρέους.​
Il capo della IIF ha detto che mentre ci possono essere state alcune differenze, ma in generale il governo greco si è impegnato ad attuare il programma di riduzione del debito.

Ο Νταλάρα επισήμανε ακόμη, ότι η Ελλάδα δεν θα χρεοκοπήσει παρά τις προκλήσεις στο πακέτο χρηματοδότησης που συμφωνήθηκε τον Ιούλιο για τη χώρα.​
Il Dalaras rilevato inoltre che la Grecia non sarebbe andata in bancarotta, nonostante le sfide nel pacchetto di finanziamento concordato nel mese di luglio per il paese.

Την πρόθεσή τους να συμμετάσχουν στην επικείμενη ανταλλαγή των ομολόγων του Δημοσίου που κατέχουν (περί τα 25 δισ. ευρώ αν συνυπολογιστούν και τα διαθέσιμα τα οποία έχει επενδύσει σε ομόλογα η Τ.τ.Ε.) με τα νέα εγγυημένα από την Ε.Ε.​
La loro intenzione di partecipare allo scambio imminente dei prestiti obbligazionari (circa 25 miliardi se il credito disponibile per che ha investito nelle obbligazioni T.t.E.) romanzo garantiti dalla UE

ομόλογα, στην ίδια ονομαστική αξία, αλλά με ημερομηνία λήξης 30 χρόνια αργότερα, θα δηλώσουν έως το τέλος της εβδομάδας τα ασφαλιστικά ταμεία.​
obbligazioni la stessa denominazione, ma con scadenza 30 anni dopo, dichiarerà la fine della settimana rimborsati.

Η συμμετοχή των ταμείων στο rollover (που τυπικά θα αποφασιστεί από τα ίδια τα Δ.Σ. τα οποία συγκαλούνται μέσα στην εβδομάδα) «κλείδωσε» στη διάρκεια «κλειστής» ενημερωτικής σύσκεψης που έγινε χθες στην ΕΤΕ.​
La partecipazione dei fondi nel rollover (che tipicamente sarà decisa dal proprio Consiglio che ha convocato questa settimana) "bloccato" durante l'incontro "chiuso" informazione detenuta ieri nella MIP.

Ταμεία
Fondi

Στη συνάντηση που έγινε ο επικεφαλής του Οργανισμού Διαχείρισης Δημοσίου Χρέους Π. Χριστοδούλου ενημέρωσε τις διοικήσεις των ταμείων για το πλαίσιο και τα σενάρια ανταλλαγής των ομολόγων που προβλέπονται.​
L'incontro è stato il capo dell'Agenzia gestione del debito pubblico P. Christodoulou informato la gestione dei fondi per il quadro e gli scenari di scambio di obbligazioni verso il basso.

Ιδιαίτερα υπογραμμίστηκε το γεγονός ότι τα ταμεία δεν θα χάσουν απ΄ αυτή την ανταλλαγή αν δεν ρευστοποιήσουν πριν από τη λήξη τους τα ομόλογα.​
In particolare ha sottolineato che i fondi non avrebbero perso da questo scambio, se non prima di liquidare le obbligazioni a scadenza.

Αντιθέτως θα «έγραφαν» απώλειες έως 50% αν αποφάσιζαν να ρευστοποιήσουν στη δευτερογενή αγορά τα ομόλογα τα οποία κατέχουν και 21% αν υποχρεωθούν να πουλήσουν τα νέα ομόλογα πριν από τη λήξη τους.​
Invece io 'scrivere' le perdite fino al 50% se si trattasse di liquidare sul mercato secondario delle obbligazioni che detengono il 21%, se costretto a vendere nuovi titoli prima della scadenza.

Οι επικεφαλής των ταμείων και η Τ.τ.Ε.​
I capi di fondi e T.t.E.

ανέλαβαν τη δέσμευση να κάνουν πλήρη καταγραφή των ομολόγων και, μέσα στις προθεσμίες (που ισχύουν για όλους τους επενδυτές που έχουν τοποθετηθεί στα ομόλογα του ελληνικού δημοσίου) να υποβάλλουν δηλώσεις συμμετοχής.​
si è impegnata a fare una registrazione completa delle obbligazioni e, entro certi limiti (che si applicano a tutti gli investitori che hanno messo i titoli di stato greco) a presentare le voci.

Ειδικά για τα ομόλογα του κοινού κεφαλαίου των ταμείων (περί τα 17 δισ. ευρώ) που τηρείται στην Τ.τ.Ε., η ανταλλαγή θα γίνει με απόφαση των συναρμόδιων υπουργείων και της Τ.τ.Ε.​
Soprattutto per le obbligazioni ai fondi di capitale pubblico (circa 17 miliardi di euro) tenutosi a T.t.E., lo scambio sarà con decisione dei ministeri e T.t.E.

(imerisia.gr)

 
Ultima modifica:

Zebro

Valar dohaeris
"Greece is not the pariah of the European Union, it is not a permanent sore and problem," Evangelos Venizelos told reporters after a cabinet meeting. "It is an equal, competitive country that has a very serious problem regarding its public debt and fiscal deficit. We can and shall overcome this, but not without carrying out the structural reforms in full."

Greece announces public sector shake up, says privatization drive on track | The Republic

Che simpatico! :D
 

tommy271

Forumer storico
Anche su altri siti ellenici è rimbalzata la notizia dell'adesione intorno al 75% al programma di swap.
Viene pure sottolineata l'assenza dei "fondi". Quando questi arriveranno raggiungeremo la quota del 90%.
Solo quello previdenziale ellenico ha in pancia circa 25 MLD.
 

tommy271

Forumer storico
Futures bund apre in calo su rimbalzo borse

mercoledì 7 settembre 2011 09:17






LONDRA, 7 settembre (Reuters) - Il futures sul Bund tedesco
ha aperto in calo sulla scia del rimbalzo dei mercati azionari
dai loro recenti minimi.

I Treasuries Usa sono scesi sulla piazza asiatica dopo che
il presidente Obama ha detto che presenterà un pacchetto da 300
miliardi dollari per creare nuovi posti di lavoro nel corso
della settimana.

Tuttavia i futures Bund non si sono allontanati molto dai
loro livelli record visto che persistono dubbi sulla capacità di
Italia e Grecia di far passare le misure di austerità richieste
dai loro partner.

Il debito italiano è destinato a rimanere sotto pressione
con in vista l'asta, la prossima settimana, sul nuovo Btp a
cinque anni.

"L'avversione al rischio è alta, la gente non sta davvero e
scambiando e i volumi sono veramente bassi, il che terrà alta la
volatilità" dice un trader.
 
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