Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
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- Data di Inizio
- Stato
tommy271
Forumer storico
Internal Divergence May Push 2010 Deficit Up
Divergence between the Greek statistics agency and the Finance Ministry regarding the deficit for 2010 may bring new revenue measures.
Greek government should send a report of sovereign deficit to Eurostat, but there was no conciliatory agreement whether arrears and expenditure should be included.
Greece sends to Eurostat statements of accounts every six months through the now independent Hellenic statistical authority.
Government sources note that public deficit may exceed 10%, more than half a percentage point above initial estimates of 9.4%, because of the large deficits and arrears of public corporations.
The Finance Ministry has been trying for some time to “deal” part of the debts worth €2.5bn in each year of the period 2007-2009, so that 2010 deficit will not be increased.
Otherwise, new measures worth €18bn may be introduced. This amount will be added to the €1.74bn supplementary measures and the €22bn mid-term package.
The Ministry of Finance also faces the risk of the same corporations produce new arrears and debts, as they don’t respond to Treasury’s call for monthly financial reports.
Finance Minister Giorgos Papakonstantinou decided that presidents of the corporations should submit written explanation within fifteen days for not submitting the monthly reports. A fine equal to 1/25 of their salary for each day of delay is provided.
(capital.gr)
Divergence between the Greek statistics agency and the Finance Ministry regarding the deficit for 2010 may bring new revenue measures.
Greek government should send a report of sovereign deficit to Eurostat, but there was no conciliatory agreement whether arrears and expenditure should be included.
Greece sends to Eurostat statements of accounts every six months through the now independent Hellenic statistical authority.
Government sources note that public deficit may exceed 10%, more than half a percentage point above initial estimates of 9.4%, because of the large deficits and arrears of public corporations.
The Finance Ministry has been trying for some time to “deal” part of the debts worth €2.5bn in each year of the period 2007-2009, so that 2010 deficit will not be increased.
Otherwise, new measures worth €18bn may be introduced. This amount will be added to the €1.74bn supplementary measures and the €22bn mid-term package.
The Ministry of Finance also faces the risk of the same corporations produce new arrears and debts, as they don’t respond to Treasury’s call for monthly financial reports.
Finance Minister Giorgos Papakonstantinou decided that presidents of the corporations should submit written explanation within fifteen days for not submitting the monthly reports. A fine equal to 1/25 of their salary for each day of delay is provided.
(capital.gr)
tommy271
Forumer storico
Greek Debt Haircut ‘Not a Solution’, Papaconstantinou Says
March 30, 2011, 4:34 AM EDT
By Eleni Chrepa
March 30 (Bloomberg) -- Greek Finance Minister George Papaconstantinou said restructuring the country’s debt wasn’t an option and would deepen Greece’s recession.
“A haircut is not a solution,” Papaconstantinou said in an interview with Greek radio station Real FM today. He said the economic downturn was “past the worst point” and that the European Union’s support shouldn’t be underestimated.
March 30, 2011, 4:34 AM EDT
By Eleni Chrepa
March 30 (Bloomberg) -- Greek Finance Minister George Papaconstantinou said restructuring the country’s debt wasn’t an option and would deepen Greece’s recession.
“A haircut is not a solution,” Papaconstantinou said in an interview with Greek radio station Real FM today. He said the economic downturn was “past the worst point” and that the European Union’s support shouldn’t be underestimated.
tommy271
Forumer storico
Greek Stocks Slide Again
Athens market moves downwards on Wednesday in the wake of Greece’s downgrade by S&P yesterday, with the General Index losing its positive sign for month.
Banks maintain a downward streak, with losses of more than 2%, while their cumulative losses for the last five sessions are at 7.11%.
“Yesterday΄s unexpected S&P downgrade of Greece by 2 notches (at BB-) asserted significant pressures on most large-cap equities, driving the Athens market significantly lower”, says Pegasus in its morning report.
Pegasus expects a very volatile session and the aforementioned hyperbole to be partially corrected during the start of the session.
Kyprou Securities notes that further slide is possible, however it does not expect the FTSE20 to drop even close to year lows. “Lower prices on the ASE relative to the current ones should trigger buying interest”, it adds.
Across the board, the General Index is at 1,573.78, down 0.38%, despite small gains of 0.57% a few minutes after the bell. The turnover stands at €38mn, while a total amount of 37 shares rise, 49 decline and 24 remain unchanged.
Banks are at 1276.07 units, down 1.64%. Only Hellenic Postbank and Bank of Cyprus are in green, posting profits of 2.67% and 0.40 respectively. On the other hand, Alpha Bank loses 3.23%, while Attica Bank and Eurobank decline by 1.96% and 1.74% respectively. Piraeus Bank, National Bank and Marfin Popular Bank post losses of 1.36%, 1.24% and 1.12% respectively.
(capital.gr)
Athens market moves downwards on Wednesday in the wake of Greece’s downgrade by S&P yesterday, with the General Index losing its positive sign for month.
Banks maintain a downward streak, with losses of more than 2%, while their cumulative losses for the last five sessions are at 7.11%.
“Yesterday΄s unexpected S&P downgrade of Greece by 2 notches (at BB-) asserted significant pressures on most large-cap equities, driving the Athens market significantly lower”, says Pegasus in its morning report.
Pegasus expects a very volatile session and the aforementioned hyperbole to be partially corrected during the start of the session.
Kyprou Securities notes that further slide is possible, however it does not expect the FTSE20 to drop even close to year lows. “Lower prices on the ASE relative to the current ones should trigger buying interest”, it adds.
Across the board, the General Index is at 1,573.78, down 0.38%, despite small gains of 0.57% a few minutes after the bell. The turnover stands at €38mn, while a total amount of 37 shares rise, 49 decline and 24 remain unchanged.
Banks are at 1276.07 units, down 1.64%. Only Hellenic Postbank and Bank of Cyprus are in green, posting profits of 2.67% and 0.40 respectively. On the other hand, Alpha Bank loses 3.23%, while Attica Bank and Eurobank decline by 1.96% and 1.74% respectively. Piraeus Bank, National Bank and Marfin Popular Bank post losses of 1.36%, 1.24% and 1.12% respectively.
(capital.gr)
tommy271
Forumer storico
Dovresti sentirli.
A questo punto mi sembrano troppo in ritardo.
Le cedole sono state pagate. Ovviamente
.Anfetamin
Nuovo forumer
Dopo il downgrade di ieri mi aspettavo chissà cosa, in realtà oggi il P&L dei miei greci è ballerino ma abbastanza stabile. Probabilmente il mercato non da più retta a quei balordi. Opinione personale: ieri alla notizia di downgrade è volata lettera sui bancari greci. Oggi mi sembra che la situazione non sia rosea ad Atene considerando che l'Europa è positiva. Ma come possono aspettarsi ripresa se continuano a far andar giù la borsa e a bruciare denaro? Anzi... sembra lo facciano apposta per poi venire a dire "Vedete che avevamo ragione noi?". Veramente una combricola di cialtroni...
giutrader
Forumer attivo
La Grecia potrebbe utilizzare i proventi del suo programma di disinvestimenti per ricomprarsi i bond in circolazione sul mercato e ritirare parte del suo debito, ha detto il ministro delle Finanze.
Salvata dal FMI e dagli altri paesi della zona euro attraverso un pacchetto di finanziamento triennale da 110 miliardi di euro, la Grecia ha subito martedì un nuovo declassamento da parte di Standard & Poor's.
"Se avremo un ammontare significativo dal programma di privatizzazione, potremo riacqustare parte del debito", ha detto George Papaconstantinou alla radio.
"Ma non pensiamo che il riacquisto del debito sia una panacea. E' un problema complesso, non può essere risolto con un solo strumento", ha aggiunto.
Il ministro ha spiegato che la Grecia ha ottenuto tre strumenti importanti per gestire il debito nell'ultimo summit con i leader della zona euro: l'estensione del periodo di rimborso dei 110 miliardi ricevuti, una riduzione dei tassi di interesse e la possibilità di vendere nuovi bond direttamente all'European Stability Mechanism (ESM).
Papaconstantinou ha sottolineato infine che la Grecia ha superato il momento peggiore della recessione e deve attenersi al programma di riforme e consolidamento fiscale per tornare alla crescita. L'economia greca è calata del 4,5% l'anno scorso ed è prevista una contrazione del 3% nel 2011.
Salvata dal FMI e dagli altri paesi della zona euro attraverso un pacchetto di finanziamento triennale da 110 miliardi di euro, la Grecia ha subito martedì un nuovo declassamento da parte di Standard & Poor's.
"Se avremo un ammontare significativo dal programma di privatizzazione, potremo riacqustare parte del debito", ha detto George Papaconstantinou alla radio.
"Ma non pensiamo che il riacquisto del debito sia una panacea. E' un problema complesso, non può essere risolto con un solo strumento", ha aggiunto.
Il ministro ha spiegato che la Grecia ha ottenuto tre strumenti importanti per gestire il debito nell'ultimo summit con i leader della zona euro: l'estensione del periodo di rimborso dei 110 miliardi ricevuti, una riduzione dei tassi di interesse e la possibilità di vendere nuovi bond direttamente all'European Stability Mechanism (ESM).
Papaconstantinou ha sottolineato infine che la Grecia ha superato il momento peggiore della recessione e deve attenersi al programma di riforme e consolidamento fiscale per tornare alla crescita. L'economia greca è calata del 4,5% l'anno scorso ed è prevista una contrazione del 3% nel 2011.
Ultima modifica:
tommy271
Forumer storico
Greece Speeds Up Property Utilization
The Ministry of Finance proceeds with the final selection of commercial banks, which will be liable to the utilization of public property.
Banks will assume the generation of three property portfolios, depending on the type of utilization:
-Properties targeted for tourist purposes such as Afandou and Prasonisi areas in Rhodes Island, ski resort in Pella, and several properties in areas of Ermioni, Halkidiki, Magnisia and Pieria.
-Properties for mixed commercial use such as former Athens Airport in Elliniko, Vouliagmeni marina, Tae Kwon Do stadium in Faliro.
-Properties for residential use.
The first package of properties should be delivered by banks-consultants by June. Greek government aims the tender between the seven banks (NBG, Alpha, Eurobank, Piraeus, Marfin, ATE, Emporiki) to be finalized as soon as possible.
Government officials note that the choice will be made according to the price they ask and their experience in the field. They will ask the contribution of foreign companies and will have access to information of public portfolios.
Additionally, the direct utilization of public enterprises worth €8mn will be under consideration.
(capital.gr)
The Ministry of Finance proceeds with the final selection of commercial banks, which will be liable to the utilization of public property.
Banks will assume the generation of three property portfolios, depending on the type of utilization:
-Properties targeted for tourist purposes such as Afandou and Prasonisi areas in Rhodes Island, ski resort in Pella, and several properties in areas of Ermioni, Halkidiki, Magnisia and Pieria.
-Properties for mixed commercial use such as former Athens Airport in Elliniko, Vouliagmeni marina, Tae Kwon Do stadium in Faliro.
-Properties for residential use.
The first package of properties should be delivered by banks-consultants by June. Greek government aims the tender between the seven banks (NBG, Alpha, Eurobank, Piraeus, Marfin, ATE, Emporiki) to be finalized as soon as possible.
Government officials note that the choice will be made according to the price they ask and their experience in the field. They will ask the contribution of foreign companies and will have access to information of public portfolios.
Additionally, the direct utilization of public enterprises worth €8mn will be under consideration.
(capital.gr)
tommy271
Forumer storico
EU Commission has concerns about credit rating agencies
BRUSSELS, March 30 | Wed Mar 30, 2011 6:48am EDT
BRUSSELS, March 30 (Reuters) - The European Commission said on Wednesday it had some doubts and concerns about how credit rating agencies function, but said it had no comment on individual credit ratings of countries.
Rating agency Standard & Poor's downgraded both Portugal and Greece on Tuesday, further undermining financial market confidence in the countries' abilities to meet their debt obligations. Moody's and Fitch have also downgraded EU members in the past.
The Commission, the EU executive, said Greece was doing all it could to implement a fiscal adjustment programme agreed with the European Union and the International Monetary Fund and said "things are going well".
BRUSSELS, March 30 | Wed Mar 30, 2011 6:48am EDT
BRUSSELS, March 30 (Reuters) - The European Commission said on Wednesday it had some doubts and concerns about how credit rating agencies function, but said it had no comment on individual credit ratings of countries.
Rating agency Standard & Poor's downgraded both Portugal and Greece on Tuesday, further undermining financial market confidence in the countries' abilities to meet their debt obligations. Moody's and Fitch have also downgraded EU members in the past.
The Commission, the EU executive, said Greece was doing all it could to implement a fiscal adjustment programme agreed with the European Union and the International Monetary Fund and said "things are going well".
- Stato
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