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

[tommy271]

BCE: MERKEL PRONTA A SCENDERE IN CAMPO A FAVORE DI AXEL WEBER (BILD)


(ASCA-AFP) - Berlino, 15 gen - La cancelliera tedesca Angela Merkel avrebbe rotto gli indugi e sarebbe pronta a scendere in campo per sostenere la candidatura alla presidenza della Bce di Axel Weber, l'attuale numero uno della Bundesbank. E' quanto scrive il quotidiano Bild, citando fonti del governo tedesco.

La Merkel sarebbe dunque sul punto di ''scendere nell'arena'' a favore di Weber per la poltrona che Jean Claude Trichet lascera' il primo novembre. La cancelliera tedesca, in particolare, crede che ''l'ortodossia'' monetaria di Weber sia l'indirizzo migliore per la Banca Centrale Europea in un momento critico come questo, con l'Ue sotto la lente d'ingrandimento per il debito pubblico dei suoi Paesi membri.

Il nome alternativo a Weber che la Merkel sarebbe pronta a sostenere, nel caso in cui non dovessere riuscire a convincere i colleghi europei, sarebbe quello di Yves Mersch, presidente della Banca Centrale del Lussemburgo.

 

[tommy271]

Wait for complete package on debt crisis: Merkel

By Andreas Rinke




MAINZ, Germany | Sat Jan 15, 2011 10:24am EST

MAINZ, Germany (Reuters) - German Chancellor Angela Merkel said on Saturday any measure to stabilize the euro should come within a complete strategic package, dampening hopes for a quick decision on moves to tackle the euro zone debt crisis.

Germany faces mounting pressure from the European Commission and its euro zone partners to strengthen a rescue fund for troubled member states, the European Financial Stability Facility (EFSF).

"If the discussion is about a further package of measures, it is above all important that we develop a complete strategy that must absolutely include closer economic coordination," Merkel told a news conference in Mainz after a meeting with other senior members of her ruling Christian Democrats.

"You cannot simply raise another particular aspect each day," she added.
Berlin insists it sees no need to commit more funds to the 440 billion euro ($591.7 billion) EFSF, which has so far been tapped only by Ireland. Instead, the German government is open to a discussion about way to enable the existing fund to be used in full.

Senior European sources told Reuters, however, that the sense of urgency in Berlin for boosting the fund had diminished after successful bond auctions this week in Spain and Portugal, the two countries seen most at risk of a bailout following rescues of Greece and Ireland last year.

Instead Germany is pushing for broader anti-crisis measures to be agreed at a summit of European Union leaders in March.

EFSF AND SCHAEUBLE

Only around 250 billion euros of the 440 billion euro fund are effectively available to euro zone countries because of a complex loan guarantee system. That would probably not be enough in the event bailouts are needed of both Portugal and Spain.

"Given the mechanics of the rescue fund, this sum cannot be fully utilized in the form of credit, because a certain amount of capital reserves need to be built up to maintain the AAA rating that is necessary for favorable financing," German Finance Minister Wolfgang Schaeuble was cited as saying in the Frankfurter Allgemeine Sonntagszeitung.

"We have to and will solve this problem," he said.

This sentiment was echoed in an international European Commission paper, according to another media report on Saturday.
"The finances available within the EFSF must be raised to at least 440 billion euros," the paper read, as cited by Der Spiegel. "Member states are ready to reconsider the size of the EFSF, whenever this is necessary."

Schaeuble said he did not expect Portugal, Spain, Italy and Belgium to need to draw upon the rescue fund.
"No one is rushing to ask for aid from the fund, because this also means strict conditions for national budgetary and financial policy," he said.

Schaeuble said he expected budgetary policy and taxes to remain "for a long time, a matter for member states" rather than a common European economic policy.


Der Spiegel reported, however, that the European Commission expected the euro zone crisis to worsen in the first few months of this year.

"New and heightened tensions seem to be unavoidable in the early months of 2011," it cited the EC paper as saying..
($1=.7436 Euro)

 

[tommy271]

Eppur si muove?


Merkel più risorse al fondo salva stati se c'è coordinamento
http://www.ilsole24ore.com/art/noti...e-fondo-salvastati-081044.shtml?uuid=Aa6I3F0C

Francoforte sia meno prudente: acquisti più bond
http://www.ilsole24ore.com/art/fina...-prudente-acquisti-081556.shtml?uuid=AagZAG0C

 

[tommy271]

Greece should restructure its debt--Slovak finmin


ATHENS | Sat Jan 15, 2011 2:49pm EST



ATHENS Jan 15 (Reuters) - Granting Greece a multi-billion euro bailout was a mistake and the Mediterranean country would be better off restructuring its debt, Slovakia's finance minister said in a Greek newspaper interview.
Slovakia, one of the euro zone's poorest members, was strongly criticised by its partners last year for refusing to contribute to the 110 billion euro ($147.9 billion) loan that saved Greece from bankruptcy.
"I believe that a debt restructuring would be a better solution for Greece," Slovak Finance Minister Ivan Miklos told Thema weekly newspaper, according to an advance copy of the Sunday edition.
"I think the (bailout) loan to Greece was a fatal mistake from the beginning. Setting up the European stability fund was also a mistake," Miklos was quoted as saying.
Greece is hoping to get an extension of the repayment of the bailout loan but has repeatedly said it would not restructure its debt.
Greek Finance Minister George Papaconstantinou repeated in an interview with the daily Kathimerini on Saturday that this was not an option. Senior European Union and International Monetary Fund officials have also rejected the idea.
But Miklos said restructuring the debt would help Greece more than the bailout. "Very simply, we do not believe these (bailout) programs will help overcome the debt crisis that is expanding in Europe," he said.
"Our refusal to participate in the (loan) for Greece was not a hostile act towards the country. It was an expression of our belief that your economy can be cured more effectively with a restructuring."


***
Affermazioni di un Ministro delle Finanze...
In realtà, per lui, la migliore "ristrutturazione" sarebbe l'uscita della Grecia dall'area Euro. Come più volte affermato ...

Mi auguro che la "qualità" dell'esecutivo slovacco sia un poco superiore.

 

[tommy271]

Adelante Pedro, con juicio:

http://www.ilsole24ore.com/art/fina...el-patto-salvaeuro-081540.shtml?uuid=Aa4VAG0C

 

[tommy271]

FinMin interview on economy




(ANA-MPA) -- The solutions put forward, such as the euro-bond, help but do not aim at postponement of today's difficult decisions, finance minister George Papaconstantinou stressed in a newspaper interview appearing on Sunday, adding that the fundamental rule for achieving fiscal adjustment in Greece is succeeding with the deep and tough changes and radical reforms in the state in the next three years.

On objections to the issue of a euro-bond, Papaconstantinou observed in his interview appearing in the Sunday edition of Kathimerini newspaper that the voices openly in favor, or at least of examining the matter, have increased, compared with the few voices just a few months ago. (ANA-MPA)

Regarding Monday's eurogroup meeting and the prospect of a decision being taken for extending the repayment period for Greece 110 billion euro EU/IMF support loan, the minister explained that this will require procedures that cannot be completed, nor even decided, in just one day. (ANA-MPA)

The finance minister further denied press reports that Greece has proposed a "mild restructuring" of its debt and, commenting on negative forecasts by analysts and markets, he said that the forecasts are not "divine law" and explained that, in the real economy, the human decisions reverse the facts and conditions and can radically alter the prospects. (ANA-MPA)

Regarding the rating houses and Fitch's recent announcement on Greece, Papaconstantinou cited the positive quarterly assessment of the European Commission, European Central Bank and International Monetary Fund, and noted that the decisions of the rating firms should be determined by real facts rather than forecasts for the future, which are based on many predictions that frequently are unfounded. (ANA-MPA)

On the fight against tax evasion, Papaconstantinou acknowledged that "we have not reached our targets on the matter of punishment of the tax dodgers", adding that the next target will be the creation of an effective and convincing system of penalties for tax evasion. (ANA-MPA)

Regarding the country's return to positive growth rates, the minister said he is more optimistic than he was a few months ago. (ANA-MPA)

Papaconstantinou further assured that the actions contained in the Memorandum "are not law, but contractual commitments and, in their overwhelming majority, are subject to parliamentary approval". (ANA-MPA).

(ana.gr)

 

[tommy271]

Growth-oriented measures




Government vice-president Theodoros Pangalos called for the government's policy and taxation to be more development-oriented, in a newspaper interview appearing on Sunday.

It is something that has begun with a series of legislation, Pangalos said in an interview with the Sunday edition of Kathimerini newspaper, and admitted that "we have delayed a bit on this", but added that "it is not that simple, like pushing a button and commencing development, in other words convincing businesspeople to make investments".

On economic developments, Pangalos confirmed that "we have not asked, nor intend to ask" a restructuring of the country's debt, and also defended the government's measures, noting that "we didn't have time for experimentation".

He also appeared confident that Greece can achieve a primary surplus, "in other words to bring down the deficit to under 3 percent (of GDP) in order to halt the rise in the debt" by 2012-2013.

This, however, "does not save us from the problem, and that is why we must turn our attention to growth", Pangalos stressed.

(ana.gr)

 

[tommy271]

I TITOLI DEI GIORNALI:


Political and economic news, speculation over early elections and rumoured prosecution against a former PASOK minister mostly dominated the headlines in Sunday's papers.



APOCALYPSES: "Burn Akis (former PASOK minister Tsohatzopoulos) now -- Order by George Papandreou for communications 'sacrifice'."

AVGHI: "Unified front: Interview by (leftist leader) Alexis Tsipras".

AVRIANI: "They're preparing new five-year super memorandum".

CHORA: "Siege situation: Troika urgently coming to Athens for inspections".

ΕLEFTHEROS TYPOS: "Government planning election blackmail".

ELEFTHEROTYPIA: "Operation 'handcuffs'."

ELEFTHERI ORA: "Papandreou against priesthood".

EPOCHI: "Fear within PM's office".

ETHNOS: "Opinion poll message - Austerity measures for public utilities, enterprises and labour sector a 'necessary evil."

Free Sunday: "Inklings of social explosion".

KATHIMERINI: "ΕU decides; Greece hopes. Possible comprehensive solution to European debt crisis brings back snap election scenarios".

PARON (weekly): "Catharsis a la carte with Siemens kickbacks with bipartisan agreement."

PROTO THEMA (weekly): "Opinion poll: Strong message -- 73 percent say yes to fence (to keep illegal immigrants out); 80 percent say (government vice-president Theodoros) Pangalos unacceptable".

REAL News (weekly): "They're investigating Akis (Tsohatzopoulos) in US, Cyprus"

RIZOSPASTIS: "Popular disobedience to unpopular policy".

VIMA (weekly): "European rescue plan against bankruptcy in exchange for German plan for fiscal discipline".

VRADYNI: "Public sector: New reductions -- Ministries with the biggest losses".

(ana.gr)

 

[AAAA47]

Greece should restructure its debt--Slovak finmin



***
Affermazioni di un Ministro delle Finanze...
In realtà, per lui, la migliore "ristrutturazione" sarebbe l'uscita della Grecia dall'area Euro. Come più volte affermato ...

Mi auguro che la "qualità" dell'esecutivo slovacco sia un poco superiore.

i nostri politici sono molto meglio

 

[tommy271]

CINA: HU JINTAO, SISTEMA MONETARIO BASATO SU DOLLARO E' SUPERATO



22:03 16 GEN 2011

(AGI) - Washington, 16 gen. - A pochi giorni dal suo arrivo a Washington per l'attesissimo summit di mercoledi' con Barack Obama, il presidente cinese Hu Jintao annuncia che "l'attuale sistema monetario internazionale basato sul dollaro e' un prodotto del passato". Cosi' Hu ha risposto alle domande scritte postegli da Washington Post e Wall Street Journal in cui ha ribadito che ci vorra' ancora tempo prima che lo yuan si accettato come moneta internazionale, anche se Pechino ha iniziato ad usarlo per operazioni internazionali.
Hu, ripetutamente bacchettato dagli Usa per il tasso di cambio dell yuan tenuto artificialmente basso secondo Washington, ha criticato la manovra di 'quantitative easing' (l'acquisto di titoli Usa per 600 miliardi di dollari deciso dalla Fed per iniettare nuova liquidita' nel mercato). Per il presidente cinese e' un'operazione destabilizzante perche' svalutata il dollaro: "la politica monetaria degli Usa ha un impatto di vasta portata sulla liquidita' globale e sui flussi di capitale. Pertanto la liquidita' del dollaro dovrebbe essere mantenuta ad un livello stabile e ragionevole", ha risposto Hu.