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

[Grisù]

EC sees FY11 GDP contraction to 3.5%, budget deficit to 9.5%
In the 2011 spring forecasts report, EC sees Greece's GDP contracting by 3.5% this year compared to the government's 3% estimate, and growing by 1.1% in FY12. Private consumption is seen falling by 6.4% and investments by 16.6%, while exports should grow 10.7% y-o-y. Unemployment should rise to 15.2% and 15.3% in FY11 and FY12 respectively vs the government's estimate for 14.8% and 15%. Inflation should settle marginally positive (0.3%), while budget deficit is seen at 9.5% and 9.3%, which compares with the fiscal consolidation plan targets for 7.5% and 6.5% respectively. Gross debt should reach to 157.7% of GDP for FY11 and 166.1% in FY12. The current account deficit is expected to shrink to 8.3% and 6.1% for the next two years. EC said that Greece will fall short on its FY11 targets if it does not proceed to policy changes immediately. EC Commissioner Rehn said that because of the weaker than expected growth last year, plus some fiscal misses, there is a need for additional measures towards fiscal consolidation, with the size depending on Troika's assessment. ECB's member Nowotny said that Greece has not fulfilled the conditions of the program sufficiently, while noted that the issue over the privatisations will be the most sensitive theme. Press reports, citing an EU official, claim that Greece would have to take additional measures this year to meet its targets. The official reportedly said that EU members need to see some progress on the privatization program. Europroup will receive Troika's report on May and will decide on the next steps for Greece by July.

 

[tommy271]

Athens laments Strauss-Kahn's fall

16 May 2011 Eleftherotypia Athens







At a time when Greece is preparing to negotiate a new loan in its bid to overcome the crisis, the departure of Dominique Strauss-Kahn (DSK) from the IMF is cause for concern, writes Eleftherotypia, which remarks that he had a better understanding than most of the Greek problem.
One of the major consequences of the events in New York will be their effect on the Eurozone and in particular on the Greek crisis. Experts expect that both of these problems will be rendered more serious by the absence of DSK — an international leader in a non-European organisation who was known for his keen understanding of the challenges and problems faced by Europe and Greece.
Last year, he was the first to respond to Greece’s appeal for financial aid, well before the Europeans had decided on their strategy after prolonged negotiations with Germany. He also tended to have a better understanding of the problems faced by Greece (and southern countries in general), than governments in many northern European countries.
According to several sources, at a meeting scheduled for Sunday 15 May, he was hoping to persuade Chancellor Angela Merkel that Greece would need more time to repay its bailout loans — in fact, he was the first to have voiced support for this demand. Unfortunately, this meeting did not take place. On Monday 16 May, he was supposed to take part in a meeting of Eurozone finance ministers to discuss a number of solutions and to take some serious decisions in the run-up to the European summit in June. Now this meeting will go ahead without him.
As a European and a potential candidate in the next French presidential election, DSK felt obliged to demonstrate greater interest in Europe and in the fate of weak countries than an Asian IMF leader might have done.
This sudden tragedy will have consequences in Greece, where many issues have yet to be settled: negotiations with the troika of European Commission, European Central Bank and IMF experts on the payment of the fifth tranche of the 110 billion euro bailout package are still ongoing, while discussions on the provision of a further loan for Greece have only just begun. Now they will have to go ahead without the key player, which DSK undoubtedly was. Only time will tell if the events that took place in the New York Sofitel will have a decisive influence on the outcome of this particular match.

 

[Grisù]

Greece's 1Q11 GDP down 4.8% y-o-y, up 0.8% q-o-q
According to NSS' flash estimates, 1Q11 GDP declined by 4.8% y-o-y but grew 0.8% q-o-q. Given the low base for 2H, a contraction of close to 3% becomes more realistic, although it is still early to derive certain conclusions.

 

[tommy271]

I dati reali sono quelli postati da Grisù.
Il resto è accademia.

 

[tommy271]

Fmi,diritto Paesi emergenti a guidarlo nel medio termine -Merkel

lunedì 16 maggio 2011 13:49




BERLINO, 16 maggio (Reuters) - Ci sono buone ragioni per avere un candidato europeo pronto per la guida del Fondo Monetario Internazionale ma i paesi emergenti potrebbero nel medio termine rivendicare la guida del Fondo. La Markel ha affermato che non è ancora tempo di discutere del successore di Dominique Strauss-Kahn, finito sotto inchiesta per violenza sessuale a New York.

 

[Nobody's]

GRECIA, ISPETTORI UE E FMI DIRANNO A EUROGRUPPO CHE COLLOQUI NON SONO CONCLUSI, RITORNERANNO PER NUOVI INCONTRI - FONTI

Reuters - 16/05/2011 14:12:55

 

[Nobody's]

Resto fermo, non incremento

 

[Grisù]

Ancora Trichet sulla Grecia:

Q. Despite your rejection of a possible restructuring of Greek debt, markets are insisting that that is the only way out.
A. The ECB's position has been clear from the beginning. We have an adjustment plan set by the IMF and the Commission. What we are asking for is that the plan be implemented as strictly as possible, as it was negotiated, with rigorous efforts being made by Greece. The adjustment, engaged by this country is essential for its sustainable, medium term growth, job creation and the stability in the euro area. And there is no other way than the strict application of this adjustment plan.

ECB: Interview with El País

 

[Grisù]

Utile come riferimento per l'emissione di domani...

 

[Nobody's]

Ispettori Ue, Fmi attendono risposte da Grecia - fonti

Reuters - 16/05/2011 14:12:55