Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
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- Data di Inizio
- Stato
tommy271
Forumer storico
Current Account Deficit Fell By 22.5%
The current account deficit fell considerably by €807mn or 22.5% year-on-year, reaching €2,786mn, according to the Bank of Greece.
This development is attributable to the fact that the current transfers balance recorded a sizeable surplus, compared with a deficit in January 2010.
Moreover, the surplus of the services balance rose slightly. By contrast, the trade and the income account deficits grew, said the Greek Central Bank.
The widening of the trade deficit by €185 million is exclusively accounted for by a €598 million or 56% increase in the net oil import bill. By contrast, net payments for purchases of ships dropped by €36 million. Moreover, the trade deficit excluding oil and ships shrank by €377 million, as the import bill declined by €264 million or 10.9%, while the corresponding export receipts rose by €112.9 million or 14.1%.
The €44.4 million rise in the surplus of the services balance was a result of lower net payments for, mainly, other services and, secondarily, travel services, while net transport receipts fell by €37 million. This decline is a result of a fall in net air transport receipts, while net transport receipts from merchant shipping rose marginally.
A small €8 million increase in the income account deficit chiefly reflects higher net fee and wage payments. Finally, the current transfers balance shifted from a deficit in January 2010 to a sizeable surplus of €689 million, mainly as a result of higher general government receipts which concern direct aid and subsidies under the Common Agricultural Policy. However, it should be taken into account that, due to the quick implementation of the relevant procedures, the bulk of EU current transfers to general government expected for the whole of 2011 has already been absorbed during the first two months of the year.
(It should be recalled that gross current transfers from the EU mainly include receipts from the European Agricultural Guidance and Guarantee Fund (EAGGF) under the Common Agricultural Policy, as well as receipts from the European Social Fund, while current transfers to the EU include Greece’s contributions (payments) to the Community Budget.)
Capital transfers balance
In January 2011, the capital transfers balance showed a deficit of €12.5 million, compared with a surplus of €32 million in January 2010. (Capital transfers from the EU mainly include receipts from the Structural Funds – except for the European Social Fund – and the Cohesion Fund under the Community Support Framework.)
Combined current account and capital transfers balance
In January 2011, the combined current and capital transfers balance (corresponding to the economy’s external financing requirements) showed a deficit of €2,799 million, down by €763 million year-on-year.
Financial account balance
In January 2011, residents’ direct investment abroad recorded a net outflow of €67 million (compared with a net outflow of €59 million in January 2010), without any remarkable transactions. Non-residents’ direct investment in Greece showed a net inflow of €45 million (compared with a net outflow of €37 million in January 2010), without any remarkable transactions.
Under portfolio investment, a net outflow of €926 million was recorded (compared with a net inflow of €3.8 billion in January 2010), mainly reflecting outflows of €1.1 billion as a result of a decrease in non-residents’ investment in Greek bonds and Treasury bills. This was partly offset by a €184 million inflow due to a drop in residents’ investment in foreign shares, as well as by a €114 million inflow owing to an increase in non-residents’ investment in shares of Greek firms.
Under “other” investment, a net inflow of €3.2 billion was recorded (compared with a net inflow of €0.4 billion in January 2010), which mainly reflects a €6.0 billion increase in the outstanding debt of the public and the private sector to non-residents (of which €6,162 million concern net general government borrowing, which reflects gross borrowing of €6,468 million under the support mechanism for the Greek economy). This development was offset by a €1.2 billion rise in resident credit institutions’ and institutional investors’ deposit and repo holdings abroad (outflow) and a €1.5 billion decrease in non-residents’ deposit and repo holdings in Greece (outflow).
At end-January 2011, Greece’s reserve assets stood at €4.7 billion. (It should be recalled that, since Greece joined the euro area in January 2001, reserve assets, as defined by the European Central Bank, include only monetary gold, the "reserve position" with the IMF, "Special Drawing Rights", and Bank of Greece claims in foreign currency on residents of non-euro area countries. Conversely, reserve assets do not include claims in euro on residents of non-euro area countries, claims in foreign currency and in euro on residents of euro area countries, and the Bank of Greece participation in the capital and the reserve assets of the ECB.)
(capital.gr)
The current account deficit fell considerably by €807mn or 22.5% year-on-year, reaching €2,786mn, according to the Bank of Greece.
This development is attributable to the fact that the current transfers balance recorded a sizeable surplus, compared with a deficit in January 2010.
Moreover, the surplus of the services balance rose slightly. By contrast, the trade and the income account deficits grew, said the Greek Central Bank.
The widening of the trade deficit by €185 million is exclusively accounted for by a €598 million or 56% increase in the net oil import bill. By contrast, net payments for purchases of ships dropped by €36 million. Moreover, the trade deficit excluding oil and ships shrank by €377 million, as the import bill declined by €264 million or 10.9%, while the corresponding export receipts rose by €112.9 million or 14.1%.
The €44.4 million rise in the surplus of the services balance was a result of lower net payments for, mainly, other services and, secondarily, travel services, while net transport receipts fell by €37 million. This decline is a result of a fall in net air transport receipts, while net transport receipts from merchant shipping rose marginally.
A small €8 million increase in the income account deficit chiefly reflects higher net fee and wage payments. Finally, the current transfers balance shifted from a deficit in January 2010 to a sizeable surplus of €689 million, mainly as a result of higher general government receipts which concern direct aid and subsidies under the Common Agricultural Policy. However, it should be taken into account that, due to the quick implementation of the relevant procedures, the bulk of EU current transfers to general government expected for the whole of 2011 has already been absorbed during the first two months of the year.
(It should be recalled that gross current transfers from the EU mainly include receipts from the European Agricultural Guidance and Guarantee Fund (EAGGF) under the Common Agricultural Policy, as well as receipts from the European Social Fund, while current transfers to the EU include Greece’s contributions (payments) to the Community Budget.)
Capital transfers balance
In January 2011, the capital transfers balance showed a deficit of €12.5 million, compared with a surplus of €32 million in January 2010. (Capital transfers from the EU mainly include receipts from the Structural Funds – except for the European Social Fund – and the Cohesion Fund under the Community Support Framework.)
Combined current account and capital transfers balance
In January 2011, the combined current and capital transfers balance (corresponding to the economy’s external financing requirements) showed a deficit of €2,799 million, down by €763 million year-on-year.
Financial account balance
In January 2011, residents’ direct investment abroad recorded a net outflow of €67 million (compared with a net outflow of €59 million in January 2010), without any remarkable transactions. Non-residents’ direct investment in Greece showed a net inflow of €45 million (compared with a net outflow of €37 million in January 2010), without any remarkable transactions.
Under portfolio investment, a net outflow of €926 million was recorded (compared with a net inflow of €3.8 billion in January 2010), mainly reflecting outflows of €1.1 billion as a result of a decrease in non-residents’ investment in Greek bonds and Treasury bills. This was partly offset by a €184 million inflow due to a drop in residents’ investment in foreign shares, as well as by a €114 million inflow owing to an increase in non-residents’ investment in shares of Greek firms.
Under “other” investment, a net inflow of €3.2 billion was recorded (compared with a net inflow of €0.4 billion in January 2010), which mainly reflects a €6.0 billion increase in the outstanding debt of the public and the private sector to non-residents (of which €6,162 million concern net general government borrowing, which reflects gross borrowing of €6,468 million under the support mechanism for the Greek economy). This development was offset by a €1.2 billion rise in resident credit institutions’ and institutional investors’ deposit and repo holdings abroad (outflow) and a €1.5 billion decrease in non-residents’ deposit and repo holdings in Greece (outflow).
At end-January 2011, Greece’s reserve assets stood at €4.7 billion. (It should be recalled that, since Greece joined the euro area in January 2001, reserve assets, as defined by the European Central Bank, include only monetary gold, the "reserve position" with the IMF, "Special Drawing Rights", and Bank of Greece claims in foreign currency on residents of non-euro area countries. Conversely, reserve assets do not include claims in euro on residents of non-euro area countries, claims in foreign currency and in euro on residents of euro area countries, and the Bank of Greece participation in the capital and the reserve assets of the ECB.)
(capital.gr)
tommy271
Forumer storico
I TITOLI DEI GIORNALI:
The 'Odyssey Dawn' airborne operation by Western forces against Libya and economic issues dominated the front pages in Athens' dailies on Monday.
ADESMEFTOS TYPOS: "Europe and America vs. Gaddafi".
AVRIANI: "Green light from Merkel for controlled bankruptcy".
DIMOKRATIA: "Hot money to friends and...acquaintances".
ELEFTHEROS: "Massacre of unarmed civilians in Libya, Gaddafi out of the line of fire".
ELEFTHEROS TYPOS: "10-day plan for elimination of Gaddafi".
ELEFTHEROTYPIA: "Odyssey of bombings".
ESTIA: "Global realignments".
ETHNOS: "War 'Odyssey' in the Mediterranean".
IMERISSIA: "Storm of measures to raise 7 billion euros - Hospitals being closed, tax exemptions being cut".
NAFTEMPORIKI: "Denationalisations program on a tightrope".
RIZOSPASTIS: "Greece must remain out of the war - The killer imperialists massacring the people of Libya".
TA NEA: "Merciless bombings".
VRADYNI: "Zero Hour for Gaddafi".
(ana.gr)
The 'Odyssey Dawn' airborne operation by Western forces against Libya and economic issues dominated the front pages in Athens' dailies on Monday.
ADESMEFTOS TYPOS: "Europe and America vs. Gaddafi".
AVRIANI: "Green light from Merkel for controlled bankruptcy".
DIMOKRATIA: "Hot money to friends and...acquaintances".
ELEFTHEROS: "Massacre of unarmed civilians in Libya, Gaddafi out of the line of fire".
ELEFTHEROS TYPOS: "10-day plan for elimination of Gaddafi".
ELEFTHEROTYPIA: "Odyssey of bombings".
ESTIA: "Global realignments".
ETHNOS: "War 'Odyssey' in the Mediterranean".
IMERISSIA: "Storm of measures to raise 7 billion euros - Hospitals being closed, tax exemptions being cut".
NAFTEMPORIKI: "Denationalisations program on a tightrope".
RIZOSPASTIS: "Greece must remain out of the war - The killer imperialists massacring the people of Libya".
TA NEA: "Merciless bombings".
VRADYNI: "Zero Hour for Gaddafi".
(ana.gr)
Ultima modifica:
giub
New Membro
giutrader
Forumer attivo
Guardate il book della 26 ora sospesa. Qualcuno ha messo un ordine di 246k a 61,25 e immediatamente è comparso il denaro. Buon sintomo
Ultima modifica:
tommy271
Forumer storico
Meglio così.
Comunque lo spread sul decennale è sempre stabile.
Occhi puntati sull'Ecofin.
A parte la news di capital.gr postata in testa alla pagina, non è trapelato ancora nulla.
Gaudente
Forumer storico
ehm...l'avanzo primario e' l'avanzo (che al momento e' ancora un disavanzo) al lordo degli interessi , quindi non dipende dal flusso cedolare ma semplicemente dalla differenza tra imposte e spesa pubblica (interessi esclusi).
Certo che se mai si raggiungesse un avanzo primario l'avere un minore onere per interessi contribuirebbe al processo di risanamento ... per chi crede alla fantafinanza ovvio
tommy271
Forumer storico
ehm...l'avanzo primario e' l'avanzo (che al momento e' ancora un disavanzo) al lordo degli interessi , quindi non dipende dal flusso cedolare ma semplicemente dalla differenza tra imposte e spesa pubblica (interessi esclusi).
Certo che se mai si raggiungesse un avanzo primario l'avere un minore onere per interessi contribuirebbe al processo di risanamento ... per chi crede alla fantafinanza ovvio
Grazie, la tua precisazione è corretta.
Intendevo però il neretto che hai specificato.
L'avanzo primario, nelle intenzioni, dovrebbe esserci verso fine 2012.
tommy271
Forumer storico
Gov't: 'balanced' position on Libya
(ANA-MPA) -- Greece is not taking part in operations of a military nature in Libya, but is providing facilitations of a supportive nature in line with the country's obligations deriving from the relevant UN Security Council resolution, Foreign Minister Dimitris Droutsas said on Monday during an interview on a private television station.
He also stressed that the east Mediterranean country is observing a "balanced" position, something also echoed by Defence Minister Evangelos Venizelos in a newspaper interview published on Monday.
"There are UN Security Council resolutions. The aim of these resolutions is for there to be an end to the violence in Libya, for the violence aimed at the Libyan people themselves to be stopped," Droutsas added.
(ana.gr)
(ANA-MPA) -- Greece is not taking part in operations of a military nature in Libya, but is providing facilitations of a supportive nature in line with the country's obligations deriving from the relevant UN Security Council resolution, Foreign Minister Dimitris Droutsas said on Monday during an interview on a private television station.
He also stressed that the east Mediterranean country is observing a "balanced" position, something also echoed by Defence Minister Evangelos Venizelos in a newspaper interview published on Monday.
"There are UN Security Council resolutions. The aim of these resolutions is for there to be an end to the violence in Libya, for the violence aimed at the Libyan people themselves to be stopped," Droutsas added.
(ana.gr)
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