Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
- Creatore Discussione Imark
- Data di Inizio
- Stato
tommy271
Forumer storico
automatica?
volontaria?
cmq son ceci
Se tutto si risolve per il meglio (crescita + avanzo primario + ritorno sui mercati) credo non ce ne sarà bisogno nel 2013.
Altrimenti vedremo.
tommy271
Forumer storico
Greece Sees Possible EUR5bln In Taxing The Dead
By Costas Paris and Alkman Granitsas, Of Dow Jones Newswires
ATHENS -(Dow Jones)- Facing slumping tax collections, Greece's Socialist government is considering creative means to close its budget gap that would include everything from seizing the unclaimed assets of the dead, to slapping new taxes on fizzy drinks, a senior government official said.
Ahead of a visit by the country's international creditors next Monday, the government is scrambling to find EUR22 billion of additional spending cuts and tax measures over the next three years as promised under a EUR110 billion bailout agreed by the government with the European Union and the International Monetary Fund last May.
According to that deal, the government must present the package by the end of this month, and it must be formally adopted by the cabinet by mid-April before being passed into law by mid-May.
"Tax collection is not coming in as expected, so the government, beyond pushing on that front, will look for other ways to close the gap," said the official.
"Seeking funds from unclaimed inheritances and from (bank) accounts from people long deceased, is something that is being considered," he added. "A tax on soft drinks is also being seriously considered."
The unclaimed assets of the deceased, some of which have hung in legal limbo for decades, could net the state around EUR5 billion in revenue, says the official. But in doing so, the government is also facing increasing resistance from within the government, the business community and also the wider public.
A number of ministries are resisting further spending cuts saying that further reductions in their budgets could seriously jeopardize social services. In particular, ministries like Greece's education and public order ministries are strongly reacting to any additional cuts, while the country's labor, health and farm ministers have also asked for easier spending goals.
***
Si rastrella dappertutto ...
By Costas Paris and Alkman Granitsas, Of Dow Jones Newswires
ATHENS -(Dow Jones)- Facing slumping tax collections, Greece's Socialist government is considering creative means to close its budget gap that would include everything from seizing the unclaimed assets of the dead, to slapping new taxes on fizzy drinks, a senior government official said.
Ahead of a visit by the country's international creditors next Monday, the government is scrambling to find EUR22 billion of additional spending cuts and tax measures over the next three years as promised under a EUR110 billion bailout agreed by the government with the European Union and the International Monetary Fund last May.
According to that deal, the government must present the package by the end of this month, and it must be formally adopted by the cabinet by mid-April before being passed into law by mid-May.
"Tax collection is not coming in as expected, so the government, beyond pushing on that front, will look for other ways to close the gap," said the official.
"Seeking funds from unclaimed inheritances and from (bank) accounts from people long deceased, is something that is being considered," he added. "A tax on soft drinks is also being seriously considered."
The unclaimed assets of the deceased, some of which have hung in legal limbo for decades, could net the state around EUR5 billion in revenue, says the official. But in doing so, the government is also facing increasing resistance from within the government, the business community and also the wider public.
A number of ministries are resisting further spending cuts saying that further reductions in their budgets could seriously jeopardize social services. In particular, ministries like Greece's education and public order ministries are strongly reacting to any additional cuts, while the country's labor, health and farm ministers have also asked for easier spending goals.
***
Si rastrella dappertutto ...
Ultima modifica:
tommy271
Forumer storico
ECB restarts bond purchases, 1 bln euros matures
FRANKFURT, March 28 (Reuters) - The European Central Bank
ended a three-week pause in its government bond purchase
programme last week, figures released on Monday showed, spending
432 million euros as market tensions surrounding Portugal rose.
The premiums investors demand to hold the debt of Greece,
Ireland, Portugal compared to that of Germany are back close to
record highs following weeks of rising market tensions and
political wrangling both at national level and Europe-wide.
This could mean the ECB could do some more buying in the
coming weeks, analysts said, as Portugal faces policy paralysis
following Prime Minister Jose Socrates' resignation last week.
"With Portugal needing more time before a bailout can be
announced due to the election, it is likely that the ECB will be
intervening to help create successful auctions from Portugal
likely over the coming weeks," IFR analyst Divyang Shah said.
The bond purchases are part of efforts to stave off Europe's
debt crisis and get markets back into order, coming amid signs
the ECB is also taking new steps to deal with problem banks.
A euro zone banking source told Reuters on Saturday that the
ECB was putting the finishing touches on a new facility that
would give troubled euro zone banks liquidity over a longer time
frame.
That would throw a lifeline to Irish banks and analysts said
it could prove a step towards targetting other countries'
"addicted" banks for aid while allowing the ECB to reduce other
parts of its emergency support for markets.
The ECB said on Monday that 1.054 billion euros worth of
bonds matured last week, which meant that the total of bonds
held under its buying programme fell to 76.5 billion euros, when
rounded to the closest half billion.
The amount of matured bonds was the biggest since the
programme started last May.
The purchases end a three-week pause in the programme but
remain almost insignificant in comparison with the amounts the
ECB was spending in its early stages.
Most economists believe the ECB is focusing its buying
almost exclusively on the euro zone's debt trouble spots, with
recent trends also suggesting it concentrates its buying around
periods of key debt auctions.
***
Due interessanti grafici:
http://graphics.thomsonreuters.com/F/11/EZ_ECBB1110.jpg
http://graphics.thomsonreuters.com/F/09/EZ_DBTPH0210.gif
FRANKFURT, March 28 (Reuters) - The European Central Bank
ended a three-week pause in its government bond purchase
programme last week, figures released on Monday showed, spending
432 million euros as market tensions surrounding Portugal rose.
The premiums investors demand to hold the debt of Greece,
Ireland, Portugal compared to that of Germany are back close to
record highs following weeks of rising market tensions and
political wrangling both at national level and Europe-wide.
This could mean the ECB could do some more buying in the
coming weeks, analysts said, as Portugal faces policy paralysis
following Prime Minister Jose Socrates' resignation last week.
"With Portugal needing more time before a bailout can be
announced due to the election, it is likely that the ECB will be
intervening to help create successful auctions from Portugal
likely over the coming weeks," IFR analyst Divyang Shah said.
The bond purchases are part of efforts to stave off Europe's
debt crisis and get markets back into order, coming amid signs
the ECB is also taking new steps to deal with problem banks.
A euro zone banking source told Reuters on Saturday that the
ECB was putting the finishing touches on a new facility that
would give troubled euro zone banks liquidity over a longer time
frame.
That would throw a lifeline to Irish banks and analysts said
it could prove a step towards targetting other countries'
"addicted" banks for aid while allowing the ECB to reduce other
parts of its emergency support for markets.
The ECB said on Monday that 1.054 billion euros worth of
bonds matured last week, which meant that the total of bonds
held under its buying programme fell to 76.5 billion euros, when
rounded to the closest half billion.
The amount of matured bonds was the biggest since the
programme started last May.
The purchases end a three-week pause in the programme but
remain almost insignificant in comparison with the amounts the
ECB was spending in its early stages.
Most economists believe the ECB is focusing its buying
almost exclusively on the euro zone's debt trouble spots, with
recent trends also suggesting it concentrates its buying around
periods of key debt auctions.
***
Due interessanti grafici:
http://graphics.thomsonreuters.com/F/11/EZ_ECBB1110.jpg
http://graphics.thomsonreuters.com/F/09/EZ_DBTPH0210.gif
tommy271
Forumer storico
Sempre relativamente al post Reuters sopracitato, qui trovate l'elenco degli importi dei bond acquistati da BCE.
Le prime settimane, credo siano esclusivamente titoli GGB.
UPDATE 1-ECB restarts bond purchases, 1 bln euros matures | Reuters
Le prime settimane, credo siano esclusivamente titoli GGB.
UPDATE 1-ECB restarts bond purchases, 1 bln euros matures | Reuters
tommy271
Forumer storico
Summit ‘very positive’ for Greece
Finance minister says time is needed to improve sentiment, admits that lagging revenues to continue
Finance Minister Giorgos Papaconstantinou described decisions reached at last week’s European Union summit as being “very positive” for Greece but also admitted that the government’s revenue problems are continuing this month.
“It remains to be seen whether the decisions taken will suffice to change market sentiment because we see these decisions were taken at the same time that we have a governing crisis in Portugal, something which obviously doesn’t make things easier,” he told Flash radio on Monday.
EU leaders at the March 24-25 summit in Brussels ratified a previous decision from eurozone governments allowing Greece more time to repay a loan from the European Union and International Monetary Fund at a cheaper rate.
Eurozone leaders have agreed to extend the repayment period of the 80 billion euros Greece got from its EU partners to 7.5 years from three years and to slash the interest rate to 4.8 percent from 5.8 percent. Greece also got a 30-billion-euro loan from the International Monetary Fund last year. Additionally, it was decided that bailed-out countries will be able to tap the European Financial Stability Facility (EFSF) if they are unable to access bond markets.
Turning to the lagging revenues, the minister said that this is continuing. “It will take take for revenues to rebound,” he said.
Data released by the Finance Ministry recently showed that Greece’s central government budget deficit increased 8.5 percent in the first two months of the year to 1.024 billion euros from 944 million a year earlier.
Ordinary budget revenues reached 7.9 billion euros, down 9.1 percent on an annual basis.
Papaconstantinou also reiterated Greece’s economy is seen returning to growth at the end of 2011 after contracting for several years.
The Greek economy is expected to shrink 3 percent this year, after a 4.5 percent recession last year, according to European Union estimates.
ekathimerini.com , Monday March 28, 2011 (17:23)
Finance minister says time is needed to improve sentiment, admits that lagging revenues to continue
“It remains to be seen whether the decisions taken will suffice to change market sentiment because we see these decisions were taken at the same time that we have a governing crisis in Portugal, something which obviously doesn’t make things easier,” he told Flash radio on Monday.
EU leaders at the March 24-25 summit in Brussels ratified a previous decision from eurozone governments allowing Greece more time to repay a loan from the European Union and International Monetary Fund at a cheaper rate.
Eurozone leaders have agreed to extend the repayment period of the 80 billion euros Greece got from its EU partners to 7.5 years from three years and to slash the interest rate to 4.8 percent from 5.8 percent. Greece also got a 30-billion-euro loan from the International Monetary Fund last year. Additionally, it was decided that bailed-out countries will be able to tap the European Financial Stability Facility (EFSF) if they are unable to access bond markets.
Turning to the lagging revenues, the minister said that this is continuing. “It will take take for revenues to rebound,” he said.
Data released by the Finance Ministry recently showed that Greece’s central government budget deficit increased 8.5 percent in the first two months of the year to 1.024 billion euros from 944 million a year earlier.
Ordinary budget revenues reached 7.9 billion euros, down 9.1 percent on an annual basis.
Papaconstantinou also reiterated Greece’s economy is seen returning to growth at the end of 2011 after contracting for several years.
The Greek economy is expected to shrink 3 percent this year, after a 4.5 percent recession last year, according to European Union estimates.
ekathimerini.com , Monday March 28, 2011 (17:23)
Ultima modifica:
tommy271
Forumer storico
Borsa Atene: Ase chiude a -0,7%, Ppc a -5,3%
MILANO (MF-DJ)--L'indice Ase della Borsa di Atene termina una seduta dai volumi scarsi in ribasso dello 0,7% a quota 1611,51 punti, dopo il lungo weekend di chiusura del mercato greco.
"I volumi sono stati molto bassi e gli investitori hanno preso a stento una direzione", commenta un trader locale.
In territorio negativo Ppc a -5,3%, a seguito della pubblicazione dei conti deludenti del 4* trimestre, Nbg a -3,6%, Alpha a -0,4% ed Eurobank a -0,2%
MILANO (MF-DJ)--L'indice Ase della Borsa di Atene termina una seduta dai volumi scarsi in ribasso dello 0,7% a quota 1611,51 punti, dopo il lungo weekend di chiusura del mercato greco.
"I volumi sono stati molto bassi e gli investitori hanno preso a stento una direzione", commenta un trader locale.
In territorio negativo Ppc a -5,3%, a seguito della pubblicazione dei conti deludenti del 4* trimestre, Nbg a -3,6%, Alpha a -0,4% ed Eurobank a -0,2%
tommy271
Forumer storico
Trichet: parametri piu' severi Paesi euro
Serve numero limitato indicatori selezionati
(ANSA) - ROMA, 28 MAR - I provvedimenti stabiliti dalla Commissione europea per rafforzare la vigilanza sulle performance macroeconomiche dei Paesi membri sono ''appropriati per i 27'' ma ''devono essere rafforzati per la zona euro a 17''.
Lo ha detto il presidente della Bce, Jean Claude Trichet, durante una conferenza a Parigi.
La Banca Centrale auspica quindi un sistema di monitoraggio di ''un numero limitato di indicatori selezionati'', che tenga sotto controllo gli eventuali ''squilibri''
Serve numero limitato indicatori selezionati
(ANSA) - ROMA, 28 MAR - I provvedimenti stabiliti dalla Commissione europea per rafforzare la vigilanza sulle performance macroeconomiche dei Paesi membri sono ''appropriati per i 27'' ma ''devono essere rafforzati per la zona euro a 17''.
Lo ha detto il presidente della Bce, Jean Claude Trichet, durante una conferenza a Parigi.
La Banca Centrale auspica quindi un sistema di monitoraggio di ''un numero limitato di indicatori selezionati'', che tenga sotto controllo gli eventuali ''squilibri''
Ultima modifica:
tommy271
Forumer storico
Greek Banks And PPC Dragged ASE Down
Athens General Index ended with mild losses on Monday, while the total turnover didn’t exceed €100mn in the wake of European Union summit in Brussels.
The financial results of domestic listed companies are still in focus, along with international developments, mainly in Libya and Japan.
Banks underperformed on Monday, as the sector index ended with losses of over 2%, while the performance of Titan, OTE and Coca-Cola 3E stood out across FTSE20. Public Power Corporation, which announced its financial results for 2010, bore the most pressure.
“Last week of 4Q10 results announcement, the market will most probably accumulate at current price levels, amid renewed concerns on Japan’s crisis”, said Marfin Analysis in its morning report.
The postponement of EU Summit decisions for June and revived worries about the Japanese nuclear accident do not benefit equities made Kyprou Securities cautious on Athens Exchange.
The absence of significant domestic positive catalysts, both corporate and sovereign, are anticipated to increase the market΄s weakness, as European leaders failed to reach into a final and solid agreement, commented Pegasus Analysis.
"The turnover was very low today and no one was taking any positions," a local trader told Dow Jones Newswires. "The market appears to be waiting for a sense of direction but it΄s not clear what that would be."
Across the board, the General Index ended at 1611.51 units, down 0.66%, after a fluctuation within a margin of 27 units. Approximately 20.55mn units worth €95.03mn were traded on Monday, while 86 shares declined, 67 rose and 130 remained unchanged.
Banks fell by 2.11%, at 1346.61 units, close to session’s low, with almost all banking shares in negative territory. The biggest drop was recorded by Proton Bank and ATEbank, with losses of 5.62% and 3.7% respectively, while National Bank Hellenic Postbank and Bank of Cyprus followed, losing 3.6%, 3.55% and 3.35% respectively. Piraeus, Alpha Bank and Eurobank posted losses of less than 1%, while Marfin Popular Bank remained unchanged at €0.91.
(capital.gr)
Athens General Index ended with mild losses on Monday, while the total turnover didn’t exceed €100mn in the wake of European Union summit in Brussels.
The financial results of domestic listed companies are still in focus, along with international developments, mainly in Libya and Japan.
Banks underperformed on Monday, as the sector index ended with losses of over 2%, while the performance of Titan, OTE and Coca-Cola 3E stood out across FTSE20. Public Power Corporation, which announced its financial results for 2010, bore the most pressure.
“Last week of 4Q10 results announcement, the market will most probably accumulate at current price levels, amid renewed concerns on Japan’s crisis”, said Marfin Analysis in its morning report.
The postponement of EU Summit decisions for June and revived worries about the Japanese nuclear accident do not benefit equities made Kyprou Securities cautious on Athens Exchange.
The absence of significant domestic positive catalysts, both corporate and sovereign, are anticipated to increase the market΄s weakness, as European leaders failed to reach into a final and solid agreement, commented Pegasus Analysis.
"The turnover was very low today and no one was taking any positions," a local trader told Dow Jones Newswires. "The market appears to be waiting for a sense of direction but it΄s not clear what that would be."
Across the board, the General Index ended at 1611.51 units, down 0.66%, after a fluctuation within a margin of 27 units. Approximately 20.55mn units worth €95.03mn were traded on Monday, while 86 shares declined, 67 rose and 130 remained unchanged.
Banks fell by 2.11%, at 1346.61 units, close to session’s low, with almost all banking shares in negative territory. The biggest drop was recorded by Proton Bank and ATEbank, with losses of 5.62% and 3.7% respectively, while National Bank Hellenic Postbank and Bank of Cyprus followed, losing 3.6%, 3.55% and 3.35% respectively. Piraeus, Alpha Bank and Eurobank posted losses of less than 1%, while Marfin Popular Bank remained unchanged at €0.91.
(capital.gr)
Ultima modifica:
tommy271
Forumer storico
Greece May Tax the Dead to Plug Budget Gap
By COSTAS PARIS And ALKMAN GRANITSAS
ATHENS—Facing slumping tax collections, Greece's Socialist government is considering creative means to close its budget gap, which could include everything from seizing the unclaimed assets of the dead to slapping new taxes on fizzy drinks.
Ahead of a visit by the country's international creditors next Monday, the government is scrambling to find €22 billion ($30.96 billion) in additional spending cuts and tax measures over the next three years, as required under a €110 billion bailout it received from the European Union and the International Monetary Fund last May.
"Tax collection is not coming in as expected, so the government, beyond pushing on that front, will look for other ways to close the gap," said a senior government official. "Seeking funds from unclaimed inheritances and from [bank] accounts from people long deceased, are some things that are being considered," he added. "A tax on soft drinks is also being seriously considered."
The unclaimed assets of the deceased, some of which have hung in legal limbo for decades, could net the state around €4 billion in revenue, the official said.
Under the international bailout, the government must present its package of spending cuts and tax measures by the end of this month, and the government's cabinet must formally adopt it by mid-April before passing it into law by mid-May.
Along with a tax on the dead, the package could include a raft of other measures that would abolish all tax breaks on individuals earning more than €70,000 per year, eliminate the lower value-added tax rates on Greece's tourist-dependent islands and raise road taxes for car owners.
Also being considered are policies to lower the tax-free threshold for property owners—including first time home owners—as well as special charges on Greece's hundreds of thousands of illegally built homes, said a second government official.
But the government is facing increasing resistance against its austerity measures from within the government, the business community and also the wider public. A number of ministries have said further reductions in their budgets could seriously jeopardize social services. Ministries like Greece's education and public order ministries, in particular, are strongly opposed to any additional cuts, and the country's labor, health and farm ministers have also asked for easier spending goals.
The senior government official said the government expects to raise about €15 billion from cost cutting and €7 billion from extra revenue, but the targets "are very difficult" to achieve.
The government hopes the measures will meet its obligations to its creditors and lower the yield the government would have to pay if it issued debt. The spread between Greek 10-year bonds and their benchmark German counterparts on Monday was above 9.0 percentage points now. The second official said the government needs a spread around 3.0-3.5 percentage points to issue debt.
If the government isn't successful, it may have to tap Europe's temporary bailout mechanism—the European Financial Stability Facility—next year in order to raise the €27 billion in long-term issuance that it needs next year, the official said.
By COSTAS PARIS And ALKMAN GRANITSAS
ATHENS—Facing slumping tax collections, Greece's Socialist government is considering creative means to close its budget gap, which could include everything from seizing the unclaimed assets of the dead to slapping new taxes on fizzy drinks.
Ahead of a visit by the country's international creditors next Monday, the government is scrambling to find €22 billion ($30.96 billion) in additional spending cuts and tax measures over the next three years, as required under a €110 billion bailout it received from the European Union and the International Monetary Fund last May.
"Tax collection is not coming in as expected, so the government, beyond pushing on that front, will look for other ways to close the gap," said a senior government official. "Seeking funds from unclaimed inheritances and from [bank] accounts from people long deceased, are some things that are being considered," he added. "A tax on soft drinks is also being seriously considered."
The unclaimed assets of the deceased, some of which have hung in legal limbo for decades, could net the state around €4 billion in revenue, the official said.
Under the international bailout, the government must present its package of spending cuts and tax measures by the end of this month, and the government's cabinet must formally adopt it by mid-April before passing it into law by mid-May.
Along with a tax on the dead, the package could include a raft of other measures that would abolish all tax breaks on individuals earning more than €70,000 per year, eliminate the lower value-added tax rates on Greece's tourist-dependent islands and raise road taxes for car owners.
Also being considered are policies to lower the tax-free threshold for property owners—including first time home owners—as well as special charges on Greece's hundreds of thousands of illegally built homes, said a second government official.
But the government is facing increasing resistance against its austerity measures from within the government, the business community and also the wider public. A number of ministries have said further reductions in their budgets could seriously jeopardize social services. Ministries like Greece's education and public order ministries, in particular, are strongly opposed to any additional cuts, and the country's labor, health and farm ministers have also asked for easier spending goals.
The senior government official said the government expects to raise about €15 billion from cost cutting and €7 billion from extra revenue, but the targets "are very difficult" to achieve.
The government hopes the measures will meet its obligations to its creditors and lower the yield the government would have to pay if it issued debt. The spread between Greek 10-year bonds and their benchmark German counterparts on Monday was above 9.0 percentage points now. The second official said the government needs a spread around 3.0-3.5 percentage points to issue debt.
If the government isn't successful, it may have to tap Europe's temporary bailout mechanism—the European Financial Stability Facility—next year in order to raise the €27 billion in long-term issuance that it needs next year, the official said.
- Stato
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