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Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
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tommy271
Forumer storico
Germany mulls cheaper EFSF loans with conditions
(Updates with comment, background, adds byline, changes headline)
By Daniel Bases
NEW YORK Jan 25 (Reuters) - German Deputy Finance Minister Joerg Asmussen on Tuesday said the euro zone might consider lending more cheaply to crisis ridden members via emergency loans if they incorporate fiscal conditions into their national constitutions.
Asmussen stressed Germany does not believe their is a crisis in the euro currency and that Berlin would do whatever is necessary to defend the stability of the euro zone.
Asked if there was any condition under which Germany would accept a lower interest rate on its emergency loans under the European Financial Stability Facility (EFSF), Asmussen said yes.
"Yes, there is now a certain margin on, let's say EFSF loans or the loan to Greece. We can look at this if countries at the same time would be willing to accept a kind of national fiscal framework to be enshrined in their constitution, yes," the influential deputy said.
"It has to be clear that interest rates as part of an EU/IMF programs are set in a way that there are clear incentives for the countries concrned to return to markets," he said.
Asmussen, speaking at a conference on the European debt crisis sponsored by Bloomberg, stressed there was a need for greater financial coordination between member states going forward in order to avoid the crises that have hit member states such as Portugal, Ireland, Italy, Greece and Spain.
(Updates with comment, background, adds byline, changes headline)
By Daniel Bases
NEW YORK Jan 25 (Reuters) - German Deputy Finance Minister Joerg Asmussen on Tuesday said the euro zone might consider lending more cheaply to crisis ridden members via emergency loans if they incorporate fiscal conditions into their national constitutions.
Asmussen stressed Germany does not believe their is a crisis in the euro currency and that Berlin would do whatever is necessary to defend the stability of the euro zone.
Asked if there was any condition under which Germany would accept a lower interest rate on its emergency loans under the European Financial Stability Facility (EFSF), Asmussen said yes.
"Yes, there is now a certain margin on, let's say EFSF loans or the loan to Greece. We can look at this if countries at the same time would be willing to accept a kind of national fiscal framework to be enshrined in their constitution, yes," the influential deputy said.
"It has to be clear that interest rates as part of an EU/IMF programs are set in a way that there are clear incentives for the countries concrned to return to markets," he said.
Asmussen, speaking at a conference on the European debt crisis sponsored by Bloomberg, stressed there was a need for greater financial coordination between member states going forward in order to avoid the crises that have hit member states such as Portugal, Ireland, Italy, Greece and Spain.
tommy271
Forumer storico
Greek Stocks Post Mild Losses
Greek Stocks consolidated mildly on Tuesday, as the General Index recorded losses and the banks couldn’t maintain their upward trend.
Only five FTSE20’s shares ended on positive grounds: Marfin Popular Bank, Coca-Cola Hellenic and Ellaktor rose by more than 1%, while Jumbo and Titan posted smaller gains.
Market analysts comment that such corrective moves do not cause any concern, as they should be expected after a rise of 23% for banks and 14.3% during last ten meetings.
Additionally, they expect volatility to remain one of the market’s main features in the near future, especially as the European Summit on February 4 approaches, focusing on the Greek debt repayment.
Pegasus Securities noted that the intraday corrections in winning shares limit the possibility of an overall correction and increase the possibility of extending the upward trend.
"The market hasn’t yet registered that if the government actually lowers the tax on dividends and the effective tax rate, as it currently plans, Greek non- financial stocks should outperform," Manos Giakoumis told Dow Jones Newswires.
"EPS and DPS will rise significantly for a company like OPAP, and to a lesser extent for Hellenic Telecoms and Coca Cola Hellenic," the head of research at Euroxx Securities added.
Across the board, the General Index ended at 1534.38, declining by 0.92%. Approximately 51.52mn units worth EUR106.42mn were traded on Tuesday, while a total amount of 105 shares ended in negative territory, 68 rose and 112 remained unchanged.
Banks fell by 1.7%, ending at 1352.73 units. Piraeus Bank declined by 3.07%, while Alpha Bank and National Bank posted losses of 2.35% and 2.28% respectively.
(capital.gr)
Greek Stocks consolidated mildly on Tuesday, as the General Index recorded losses and the banks couldn’t maintain their upward trend.
Only five FTSE20’s shares ended on positive grounds: Marfin Popular Bank, Coca-Cola Hellenic and Ellaktor rose by more than 1%, while Jumbo and Titan posted smaller gains.
Market analysts comment that such corrective moves do not cause any concern, as they should be expected after a rise of 23% for banks and 14.3% during last ten meetings.
Additionally, they expect volatility to remain one of the market’s main features in the near future, especially as the European Summit on February 4 approaches, focusing on the Greek debt repayment.
Pegasus Securities noted that the intraday corrections in winning shares limit the possibility of an overall correction and increase the possibility of extending the upward trend.
"The market hasn’t yet registered that if the government actually lowers the tax on dividends and the effective tax rate, as it currently plans, Greek non- financial stocks should outperform," Manos Giakoumis told Dow Jones Newswires.
"EPS and DPS will rise significantly for a company like OPAP, and to a lesser extent for Hellenic Telecoms and Coca Cola Hellenic," the head of research at Euroxx Securities added.
Across the board, the General Index ended at 1534.38, declining by 0.92%. Approximately 51.52mn units worth EUR106.42mn were traded on Tuesday, while a total amount of 105 shares ended in negative territory, 68 rose and 112 remained unchanged.
Banks fell by 1.7%, ending at 1352.73 units. Piraeus Bank declined by 3.07%, while Alpha Bank and National Bank posted losses of 2.35% and 2.28% respectively.
(capital.gr)
tommy271
Forumer storico
Efsf raccoglierà fino a 26,5 mld in 2011-2012 per piano Irlanda
martedì 25 gennaio 2011 17:52
FRANCOFORTE, 25 gennaio (Reuters) - L'European Financial Stability Facility (Efsf) raccoglierà fino a 26,5 miliardi di euro tra il 2011 e il 2012 nell'ambito del piano di salvataggio dell'Irlanda.
L'Efsf comunica in particolare che quest'anno procederà all'emissione di altri due bond benchmark da 3-5 miliardi ciascuno, oltre a quello di debutto da 5 miliardi prezzato oggi.
L'Unione europea attraverso l'Efsm - prosegue il comunicato - contribuirà allo sforzo complessivo raccogliendo fino a 17,6 miliardi quest'anno e fino a 4,9 miliardi il prossimo.
Per quel che riguarda il collocamento odierno da 5 miliardi (con domanda complessiva per 44,5 miliardi), l'Efsf ha reso noto che le richieste sono giunte da 500 diversi investitori, in particolare dall'Asia, col governo giapponese che da solo ha coperto oltre il 20% dell'emissione.
martedì 25 gennaio 2011 17:52
FRANCOFORTE, 25 gennaio (Reuters) - L'European Financial Stability Facility (Efsf) raccoglierà fino a 26,5 miliardi di euro tra il 2011 e il 2012 nell'ambito del piano di salvataggio dell'Irlanda.
L'Efsf comunica in particolare che quest'anno procederà all'emissione di altri due bond benchmark da 3-5 miliardi ciascuno, oltre a quello di debutto da 5 miliardi prezzato oggi.
L'Unione europea attraverso l'Efsm - prosegue il comunicato - contribuirà allo sforzo complessivo raccogliendo fino a 17,6 miliardi quest'anno e fino a 4,9 miliardi il prossimo.
Per quel che riguarda il collocamento odierno da 5 miliardi (con domanda complessiva per 44,5 miliardi), l'Efsf ha reso noto che le richieste sono giunte da 500 diversi investitori, in particolare dall'Asia, col governo giapponese che da solo ha coperto oltre il 20% dell'emissione.
tommy271
Forumer storico
Shipping magnate Vassilis Constantakopoulos dies
(ANA-MPA) -- "Captain" Vassilis Constantakopoulos, one of Greece's most prominent shipowners and developer of luxury hotel complexes in his birthplace in Messinia prefecture, died early Tuesday at the age of 76, after a bout with cancer.
Constantakopoulos, founder of the shipping firm Costamare, was born in 1935 in Diavolitsi, Messinia. He left for Athens in 1948, where he worked while attending a night school, graduating in 1953.
That same year he set sail as an unpaid apprentice on a small ship, the beginning of his maritime career, and in 1974 he created his own company, Costamare Shipping Company SA after purchasing an older vessel.
Today Costamare, which remains a family business, manages 46 container ships and is the largest independent container shipping company in the world, with its entire fleet under the Greek flag.
(ana.gr)
(ANA-MPA) -- "Captain" Vassilis Constantakopoulos, one of Greece's most prominent shipowners and developer of luxury hotel complexes in his birthplace in Messinia prefecture, died early Tuesday at the age of 76, after a bout with cancer.
Constantakopoulos, founder of the shipping firm Costamare, was born in 1935 in Diavolitsi, Messinia. He left for Athens in 1948, where he worked while attending a night school, graduating in 1953.
That same year he set sail as an unpaid apprentice on a small ship, the beginning of his maritime career, and in 1974 he created his own company, Costamare Shipping Company SA after purchasing an older vessel.
Today Costamare, which remains a family business, manages 46 container ships and is the largest independent container shipping company in the world, with its entire fleet under the Greek flag.
(ana.gr)
tommy271
Forumer storico
Asmussen Says Greeks Need Wage Cuts to Restore Competitiveness
By Daniel Moss and Rainer Buergin - Jan 25, 2011 6:14 PM GMT+0100
German Deputy Finance Minister Joerg Asmussen said Greek workers will have to accept wage cuts even as their government reduces spending and raises taxes to restore public finances.
Greece squandered its competitiveness in the last 10 to 15 years after losing its monopoly as the European Union’s most southeasterly outpost amid the region’s expansion, Asmussen said today at the Bloomberg European Debt Briefing Conference in New York hosted by Bloomberg Link.
“The unique situation that Greece has had in the past disappeared and now one has to redefine what can you do in a country in order to grow because simply with fiscal austerity you can’t get out of this situation,” he said. “De facto, you need a kind of internal devaluation starting with wage policy.”
Greece’s debt load sparked a crisis in Europe after Prime Minister George Papandreou revealed in October 2009 the budget gap was four times the EU limit. The Greek economy will probably contract 3 percent this year after shrinking 4 percent in 2010, according to Fitch Ratings, which downgraded the country’s debt one level to BB+, or junk, on Jan. 14.
The 110 billion-euro ($150 billion) bailout crafted for Greece by the EU and the International Monetary Fund has failed to stem soaring borrowing costs for the country. The crisis now threatens Portugal and Spain.
The yield on the Greek 10-year bond is 11.34 percent, the highest in the euro area. The extra yield or spread investors demanded to hold Greek bonds instead of similar-maturity German bunds widened 13 basis points to 8.20 percentage points.
Two Pillars
“When you look at the Greek program, it is very carefully designed on these two pillars, that you first put the house in order on the fiscal side” and then, “and this is more difficult, to define for a country what is their unique selling proposition,” Asmussen said.
Greece is planning a crackdown on tax evasion by making it a felony to owe more than 75,000 euros in taxes, Greek daily newspaper Kathimerini reported today, without saying where it got the information. Still, deficit-cutting alone won’t be enough to help Greece recover, Asmussen said.
The Greek state holds majority stakes in the publicly traded port operators at Piraeus and Thessaloniki and the water utilities for Athens and Thessaloniki, as well as Public Power Corp., which supplies electricity in the country of 11 million people. The government also owns 20 percent of Hellenic Telecommunications Organization SA.
“You can liberalize your markets, you can open up your networks, you can privatize the relatively large state-sector enterprises in Greece,” Asmussen said. “You have to look at your labor costs, which is difficult in a monetary union, but not impossible.”
(Bloomberg)
By Daniel Moss and Rainer Buergin - Jan 25, 2011 6:14 PM GMT+0100
German Deputy Finance Minister Joerg Asmussen said Greek workers will have to accept wage cuts even as their government reduces spending and raises taxes to restore public finances.
Greece squandered its competitiveness in the last 10 to 15 years after losing its monopoly as the European Union’s most southeasterly outpost amid the region’s expansion, Asmussen said today at the Bloomberg European Debt Briefing Conference in New York hosted by Bloomberg Link.
“The unique situation that Greece has had in the past disappeared and now one has to redefine what can you do in a country in order to grow because simply with fiscal austerity you can’t get out of this situation,” he said. “De facto, you need a kind of internal devaluation starting with wage policy.”
Greece’s debt load sparked a crisis in Europe after Prime Minister George Papandreou revealed in October 2009 the budget gap was four times the EU limit. The Greek economy will probably contract 3 percent this year after shrinking 4 percent in 2010, according to Fitch Ratings, which downgraded the country’s debt one level to BB+, or junk, on Jan. 14.
The 110 billion-euro ($150 billion) bailout crafted for Greece by the EU and the International Monetary Fund has failed to stem soaring borrowing costs for the country. The crisis now threatens Portugal and Spain.
The yield on the Greek 10-year bond is 11.34 percent, the highest in the euro area. The extra yield or spread investors demanded to hold Greek bonds instead of similar-maturity German bunds widened 13 basis points to 8.20 percentage points.
Two Pillars
“When you look at the Greek program, it is very carefully designed on these two pillars, that you first put the house in order on the fiscal side” and then, “and this is more difficult, to define for a country what is their unique selling proposition,” Asmussen said.
Greece is planning a crackdown on tax evasion by making it a felony to owe more than 75,000 euros in taxes, Greek daily newspaper Kathimerini reported today, without saying where it got the information. Still, deficit-cutting alone won’t be enough to help Greece recover, Asmussen said.
The Greek state holds majority stakes in the publicly traded port operators at Piraeus and Thessaloniki and the water utilities for Athens and Thessaloniki, as well as Public Power Corp., which supplies electricity in the country of 11 million people. The government also owns 20 percent of Hellenic Telecommunications Organization SA.
“You can liberalize your markets, you can open up your networks, you can privatize the relatively large state-sector enterprises in Greece,” Asmussen said. “You have to look at your labor costs, which is difficult in a monetary union, but not impossible.”
(Bloomberg)
tommy271
Forumer storico
Le chiusure di ieri degli spread hanno segnato un movimento di allargamento:
più sensibile sulla Spagna in vista del riordino del problema "cajas".
I nostri ellenici vengono spinti verso l'alto ma tengono sostanzialmente le posizioni entro il range.
Grecia 817 pb. (805)
Irlanda 572 pb. (573)
Portogallo 377 pb. (371)
Spagna 220 pb. (199)
Italia 161 pb. (152)
Belgio 107 pb. (106)
più sensibile sulla Spagna in vista del riordino del problema "cajas".
I nostri ellenici vengono spinti verso l'alto ma tengono sostanzialmente le posizioni entro il range.
Grecia 817 pb. (805)
Irlanda 572 pb. (573)
Portogallo 377 pb. (371)
Spagna 220 pb. (199)
Italia 161 pb. (152)
Belgio 107 pb. (106)
tommy271
Forumer storico
Ciao Charlie, ieri in tarda serata si erano spinti quasi sotto gli 850 pb.
- Stato
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