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

[tommy271]

Papaconstantinou Won’t Rule Out Greek Debt Buyback, MNI Reports

By Marcus Bensasson - Jan 27, 2011 1:56 PM GMT+0100


Greek Finance Minister George Papaconstantinou said the idea of Greece buying back its debt must be discussed along with suggestions for enhancing the European Financial Stability Fund, Market News International reported, citing an interview in Davos today.

While several ideas are being considered to improve the fund, Germany has yet to make an official proposal, Papaconstantinou said, according to the news agency. Greece’s cost of borrowing must be included in the discussions, MNI cited him as saying.

(Bloomberg)

 

[tommy271]

President briefed by BoG chief




The resolution of long-standing weaknesses and problems is a condition for the much-needed growth of the Greek economy, Bank of Greece governor George Provopoulos stressed on Thursday during a meeting with President of the Republic Karolos Papoulias.

The central bank chief pointed out that "the more boldly and determinedly we act, the faster we will enter into development", adding that so long as those weaknesses exist "we cannot even imagine growth".

Provopoulos noted that, during his recent meeting with the prime minister, he was pleased to ascertain that they shared the same views on what the prerequisites are and where the weight must be put to move ahead as quickly as possible.

The President asked to be briefed on the condition of the Greek banks, with Provopoulos replying that they are facing major challenges after a tough year in 2010 due to the economic crisis.

The BoG chief clarified, however, that in the case of Greece the banking sector has suffered from the state economic crisis, whereas in Ireland the banking sector created the problems for the government.

"That is an additional reason why the issue of tackling the fiscal problem is an urgent one," he added.

(ana.gr)

 

[tommy271]

Πεταλωτής: «Μελετάμε μόνο για πιθανή επιμήκυνση, όχι αναδιάρθρωση»


Απέκλεισε εκ νέου και με κατηγορηματικό τρόπο το ενδεχόμενο αναδιάρθρωσης του ελληνικού χρέους, ο κυβερνητικός εκπρόσωπος Γιώργος Πεταλωτής, τονίζοντας ότι η κυβέρνηση συζητά μόνο για την επιμήκυνση του χρόνου αποπληρωμής του ελληνικού δανείου των 110 δισ. ευρώ.
«Επί 15 μήνες, κάθε μέρα, υπάρχουν δεκάδες δηλώσεις για την ελληνική οικονομία, δηλώσεις που αρχικά μιλούσαν για πτώχευση και που, όπως αποδεικνύουμε, όχι μόνο δεν πτωχεύσαμε, αλλά δημιουργούμε και προοπτική για την έξοδο από την κρίση», τόνισε.
Σημείωσε δε ότι «με βάση αυτό, εμείς αποκλείουμε την αναδιάρθρωση του χρέους» και ότι «η μόνη συζήτηση στην οποία συμμετέχουμε είναι η επιμήκυνση της αποπληρωμής του δανείου των 110 δισ. ευρώ και μόνο».


kathimerini.gr με πληροφορίες από ΑΠΕ-ΜΠΕ



Potete usare il traduttore ...



Il portavoce del governo greco, ha escluso di nuovo e categoricamente la possibilità di ristrutturazione del debito greco, sottolineando che il governo sta discutendo solo della proroga del rimborso del prestito greco di 110 miliardi di euro.
Ha anche osservato che "alla luce di questo, si esclude la ristrutturazione del debito" e che "la discussione coinvolge solo l'estensione del rimborso del prestito di 110 miliardi".

 

[tommy271]

Greece PM Says EFSF Must Be Made More Flexible



BERLIN (MNI) - Greek Prime Minister George Papandreou on Thursday called for making the European Financial Stability Facility (EFSF) more flexible.

Speaking at a panel discussion at the World Economic Forum Annual Meeting in Davos, Papandreou said the European Union needed "the necessary tools and rules and arsenal...so that we can calm the markets."

"First the bond markets where there's the issue of debt," the Prime Minister reasoned. "And this is where the EFSF, this new mechanism, should be able to be robust and flexible enough to intervene and help in this way."

Papandreou stressed that Greece was on track with its austerity program. "We have to do our homework and we're doing that," he said. "We have been doing everything by the book. The question is why haven't the markets responded."

 

[tommy271]

Holocaust memorial, step by step

By Margarita Pournara

During World War II, 67,000 of the 78,000-strong population of Greeks of Jewish descent perished in Nazi crematoria, yet it took over 65 years for Athens to get its own Holocaust memorial.

Following an international competition, Greek-American artist DeAnna Maganias’s design for a sculpture was chosen.

Depicting a shattered Star of David, it was placed in at the crossroads of Ermou, Efvoulou and Melidoni streets next to the Kerameikos Cemetery, with the six outer triangles of the star pointing to Athens’s historical Jewish neighborhoods.

On Wednesday, January 26, the Jewish Museum of Greece unveiled an exhibition titled “The Memorial,” featuring scale models and mock-ups presented by the artists to a panel of experts for judging during the competition. The tribute is part of a series of events commemorating Holocaust Martyrs’ and Heroes’ Remembrance Day, held annually in the Hebrew month of Nisan, usually around March or April in the Western calendar.

Mary Michailidou, an art historian who was on the panel of judges, explains how difficult it was to settle on one design.
“I must confess that the proposals submitted by the artists were excellent and it was quite a chore to narrow it down to DeAnna Maganias’s. Her design was ultimately chosen because she handled the issue of the Holocaust with moderation, order and clean lines. However, we decided to organize this exhibition so that the public could see how the rest of the participants approached this sensitive subject and what means of expression they used. We must not forget the special significance of the site that was chosen for the memorial, at Kerameikos, at the Pompeion and the start of the Panathenaic procession; it is a holy site.”

The exhibition comprises 16 of the total 19 proposals submitted by artists belonging to different generations and different schools of thought and style.

“All of the artists who presented a proposal took into account a number of different factors before shaping their concepts,” says Michailidou. “Each artist addressed the Holocaust through a personal prism. Andreas Angelidakis envisioned a walk through a tunnel of concrete walls, while Giorgos Gyparakis presented us with a kind of memorial temple. Other artists showed us sculptures and others still wanted to make interventions in the space.”

“The Memorial” is on display at the Jewish Museum of Greece (39 Nikis, Syntagma) until August 31. Opening hours: Mondays-Fridays 9 a.m. - 2.30 p.m., Sundays 10 a.m. - 2 p.m. Admission costs 6 euros for adults and 3 euros for students.

ekathimerini.com , Wednesday Jan 26, 2011 (21:27)

 

[tommy271]

DAVOS-Greek PM rules out default, debt restructuring


DAVOS, Switzerland | Thu Jan 27, 2011 9:12am EST



DAVOS, Switzerland Jan 27 (Reuters) - Greek Prime Minister George Papandreou ruled out defaulting on or restructuring his country's huge public debt but said he expected EU/IMF rescue loans to be stretched out and the interest rate reduced.

Papandreou told global business leaders at the World Economic Forum on Thursday that Athens hoped to return to capital markets even this year after implementing draconian austerity measures to slash its budget deficit.

"Of course the question of restructuring has been around. I can say that we're not going to default. I also say we're not moving to restructuring," he said.

"Yes, there will be a lengthening of the debt we have to the IMF and the EU, and there has been discussion about the terms of the loans. I think these are in the pipeline," he said, adding that easier terms would help Greece avoid a funding "bump" in 2014.

 

[tommy271]

Greek PM: Governance, Not Debt, Is Greece's Main Problem



DAVOS, Switzerland (Dow Jones)--Poor governance, not debt, is the root cause of Greece's problems, and the current government has made substantial progress in tackling it, Prime Minister George Papandreou said Wednesday.

"Debt is not the problem, debt is just a symptom," Papandreou told a panel discussion at the World Economic Forum, pointing to the government's efforts over the last year to deregulate protected professions, improve tax collection and control over public spending.

Papandreou noted, however, that the bond markets are still as doubtful as ever of Greece's ability to avoid defaulting on its public debt.

He argued that the government is committed to "doing its homework" but repeated calls for solidarity from the rest of its partners in the euro zone.

"We need tools... to calm the bond markets," Papandreou said in a reference, among other things, to the European Financial Stabilization Facility, set up in the wake of Greece's rescue by the European Union and International Monetary Fund last spring.

The EFSF "should be robust and flexible," Papandreou said, without specifying further.

His comments come against the backdrop of a heated discussion in the euro zone as to whether the EFSF needs additional resources, beyond the EUR440 billion in loan guarantees that it has already.

 

[tommy271]

In chiusura la Borsa di Atene conferma la tenuta dei livelli raggiunti a 1570 punti, segnando un +0,14. Sempre molto elevati i volumi di scambio a circa 122 MLN.

Un pò più deboli i nostri GGB, lo spread tende ad oscillare nella parte alta del range. Attualmente siamo intorno a 841 punti base, circa.

 

[tommy271]

Update-2: Greece's PM Says EFSF Must Be More flexible

BERLIN (MNI) - Greek Prime Minister George Papandreou on Thursday called for greater flexibility in the European Financial Stability Facility (EFSF),
Speaking at a panel discussion at the World Economic Forum Annual Meeting in Davos, Papandreou said the European Union needed "the necessary tools and rules and arsenal...so that we can calm the markets."
"First the bond markets where there's the issue of debt," the prime minister reasoned. "And this is where the EFSF, this new mechanism, should be able to be robust and flexible enough to intervene and help in this way."
Papandreou stressed that Greece was on track with its austerity program.
"We have to do our homework and we're doing that," he said. "We are on a path that we think we can get growth in 2012 and restore confidence. We are hoping to return to the markets even this year."
"We have been doing everything by the book. The question is why haven't the markets responded," the prime minister asked.
Papandreou once more stressed that "we are not moving to restructuring" sovereign debt. He acknowledged, though, that "there will be lengthening of the debt we have to the IMF and EU, discussions about the terms of the loan [are] also in the pipeline."

 

[tommy271]

Premier: No move to restructure Greek debt

More flexible rescue facility would help calm markets: Papandreou

By William L. Watts, MarketWatch



DAVOS, Switzerland (MarketWatch) — Greece isn’t moving to restructure its sovereign debt, Prime Minister George Papandreou told the World Economic Forum’s annual meeting on Thursday.

“We are not moving to restructuring ... We have a road map to move out of the debt problem,” Papandreou said in a panel discussion at the World Economic Forum’s annual meeting, where he was joined by European Central Bank President Jean-Claude Trichet and British Deputy Prime Minister Nick Clegg.

Greece has seen rounds of sometimes-violent protests and strikes since the government began moving to implement far-reaching austerity measures aimed to bring down a massive deficit. Greece’s debt woes sent its borrowing costs soaring, shutting it out of credit markets last spring and forcing it to take a €110 billion bailout package from the European Union and International Monetary Fund.

Last November, Ireland became the second euro-zone nation to seek a bailout, tapping the newly-established European Financial Stability Facility established by the EU and IMF.

Greek government bond yields and credit default swap spreads, a measure of the cost of insuring debt against default, remain extremely elevated. Many economists have argued that even with austerity measures, Greece’s debt load will prove unsustainable, ultimately requiring restructuring.

Papandreou said discussions to lengthen the repayment of the rescue package were in the pipeline, but said the government has already proved it’s capable of delivering on its austerity goals after slicing the deficit by six percentage points of GDP last year.

Papandreou didn’t directly address proposals that would reportedly allow Greece to buy back some of its debt in purchases funded through the EFSF.

The premier, however, said a “stronger” and “more flexible” EFSF would help. The fund could be a “major tool to calm the markets and deal with the debt problem,” he said.

Trichet, who appeared in a pair of panels on Thursday, reiterated his call for a “quantum leap" in euro-zone governance, or strengthening fiscal rules and their enforcement.

Trichet was scheduled to hold a bilateral discussion with U.S. Treasury Secretary Timothy Geithner in Davos. Geithner was also scheduled to meet with British Chancellor of the Exchequer George Osborne and other officials.


William L. Watts is a reporter for MarketWatch in London.