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tommy271
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Greece seeks UK law firm for talks on EU/IMF deal - papers
People walk past the Bank of Greece in Athens May 9, 2011.
Credit: Reuters/Yiorgos Karahalis
ATHENS | Tue May 17, 2011 9:16am BST
ATHENS (Reuters) - Greece is seeking a British law firm to help negotiate revisions to its EU/IMF bailout deal and possibly a supplementary deal as it struggles to cope with its debt crisis, Greek newspapers reported on Tuesday.
Euro zone finance ministers said for the first time on Monday that they would consider asking Greece's private creditors to extend the maturities on their bonds to buy Athens more time to pay down its huge debt.
Daily newspaper Ethnos said talks to tweak or complement the 110 billion euro (96 billion pound) funding deal that Greece agreed with the EU and the IMF last May to avoid default would lead to new agreements.
"The finance ministry last week began procedures to find a British law firm with expertise in these matters to help in talks that will start very soon on a revision of the memorandum and possible changes to the funding deal," the newspaper said.
Eurogroup Chairman Jean-Claude Juncker on Monday left the door open to a "reprofiling" of Greece's debt, meaning investors would be encouraged to agree to an extension of the maturities of the bonds they hold. Some see this as another form of restructuring.
Finance ministry officials were not immediately available for comment.
Financial daily Imerisia also said on Tuesday the finance ministry had asked the state's legal council to find the most suitable law firm to handle the matter, citing Allen and Overy as a likely candidate to be retained by the Greek government.
The paper said the search for a British law firm was due to the fact that the initial funding deal was concluded under British law terms.
"Thus, it is essentially confirmed that the Greek side is ready to proceed to negotiations to sign a memorandum no. 2 and change the current loan contract, possibly with a lengthening of the repayment period," the paper said.
People walk past the Bank of Greece in Athens May 9, 2011.
Credit: Reuters/Yiorgos Karahalis
ATHENS | Tue May 17, 2011 9:16am BST
ATHENS (Reuters) - Greece is seeking a British law firm to help negotiate revisions to its EU/IMF bailout deal and possibly a supplementary deal as it struggles to cope with its debt crisis, Greek newspapers reported on Tuesday.
Euro zone finance ministers said for the first time on Monday that they would consider asking Greece's private creditors to extend the maturities on their bonds to buy Athens more time to pay down its huge debt.
Daily newspaper Ethnos said talks to tweak or complement the 110 billion euro (96 billion pound) funding deal that Greece agreed with the EU and the IMF last May to avoid default would lead to new agreements.
"The finance ministry last week began procedures to find a British law firm with expertise in these matters to help in talks that will start very soon on a revision of the memorandum and possible changes to the funding deal," the newspaper said.
Eurogroup Chairman Jean-Claude Juncker on Monday left the door open to a "reprofiling" of Greece's debt, meaning investors would be encouraged to agree to an extension of the maturities of the bonds they hold. Some see this as another form of restructuring.
Finance ministry officials were not immediately available for comment.
Financial daily Imerisia also said on Tuesday the finance ministry had asked the state's legal council to find the most suitable law firm to handle the matter, citing Allen and Overy as a likely candidate to be retained by the Greek government.
The paper said the search for a British law firm was due to the fact that the initial funding deal was concluded under British law terms.
"Thus, it is essentially confirmed that the Greek side is ready to proceed to negotiations to sign a memorandum no. 2 and change the current loan contract, possibly with a lengthening of the repayment period," the paper said.
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tommy271
Forumer storico
Deutsche Bank CEO touted to head IMF - report
FRANKFURT | Tue May 17, 2011 9:29am BST
FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) Chief Executive Josef Ackermann's name is being circulated in Berlin as a possible candidate to succeed Dominique Strauss-Kahn as head of the International Monetary Fund (IMF), German daily Bild reported.
Another candidate being discussed in the German capital is Thomas Mirow, president of the European Bank for Reconstruction and Development, the mass-circulation tabloid reported on Tuesday, citing no sources.
Deutsche Bank declined to comment.
German Chancellor Angela Merkel said on Monday it would make sense for Europe to keep the top job at the IMF in view of the fund's role in tackling the euro zone crisis.
That link might in turn prompt raised eyebrows if Ackermann were appointed, given that Deutsche's net exposure to Greece amounted to 1.6 billion euros (1.4 billion pounds) as of the end of 2010.
Ackermann's contract as CEO of Deutsche Bank runs until 2013, and the bank has said it is still in the process of choosing a successor.
Strauss-Kahn, who has run the Washington-based IMF since 2007, was arrested on charges of attempted rape over the weekend and .
The IMF board met informally on Monday for an update on Strauss-Kahn, a French economist and politician, but it did not make a decision on whether to remove him from his job steering the organisation's response to global economic challenges.
FRANKFURT | Tue May 17, 2011 9:29am BST
FRANKFURT (Reuters) - Deutsche Bank (DBKGn.DE) Chief Executive Josef Ackermann's name is being circulated in Berlin as a possible candidate to succeed Dominique Strauss-Kahn as head of the International Monetary Fund (IMF), German daily Bild reported.
Another candidate being discussed in the German capital is Thomas Mirow, president of the European Bank for Reconstruction and Development, the mass-circulation tabloid reported on Tuesday, citing no sources.
Deutsche Bank declined to comment.
German Chancellor Angela Merkel said on Monday it would make sense for Europe to keep the top job at the IMF in view of the fund's role in tackling the euro zone crisis.
That link might in turn prompt raised eyebrows if Ackermann were appointed, given that Deutsche's net exposure to Greece amounted to 1.6 billion euros (1.4 billion pounds) as of the end of 2010.
Ackermann's contract as CEO of Deutsche Bank runs until 2013, and the bank has said it is still in the process of choosing a successor.
Strauss-Kahn, who has run the Washington-based IMF since 2007, was arrested on charges of attempted rape over the weekend and .
The IMF board met informally on Monday for an update on Strauss-Kahn, a French economist and politician, but it did not make a decision on whether to remove him from his job steering the organisation's response to global economic challenges.
Gaudente
Forumer storico
della cameriera afroamericana Ophelia. Pare, ha scritto il quotidiano francese Libération sul sito, che la polizia abbia corretto l'ora dell'aggressione, avvenuta verso mezzogiorno e non più verso le 13, come annunciato finora dagli avvocati del direttore dell'Fmi che non gode dell'immunità diplomatica. Nel pomeriggio ad aggravare la situazione il deposito di formale accusa anche per sodomia.
e per zoofilia ancora niente ?
giub
New Membro
nessuno dice sia semplice. Gli hanno chiesto unicamente di costituire una società per le dismissioni...che andrebbe addirittura in garanzia e quindi rimarrebbe in mano al governo dandogli tutto il tempo per organizzare al meglio. Si chiede solo di fare qualcosa, non di svendere agli squali. Ma loro non vogliono. Continuano a fare promesse a vuoto. Si stanno comportando molto scorrettamente.
giub
New Membro
"presso le" - sai, alle 7:30 fatico a discernere
non sono solo due banchette, tutto il sistema bancario greco avrebbe sofferenze
nel caso delle new dracme chi le assorbe le perdite, tutte le banche (?!) mentre le aziende si ritrovano il debito ridotto al 20% ?! dai, è assurdo!
se il debito dell'azienda Yioula è in Euro nei confronti di EFG perchè dovrebbe essere trasformato in new drachme?!
In caso di default normalmente chi si assorbe le perdite? Abbiamo il caso Argentina sotto gli occhi....
tommy271
Forumer storico
Update
Spain Fin Min: Greece May Need To Take Further Action
(Adds background, comment.)
By Nicholas Winning
Of DOW JONES NEWSWIRES
BRUSSELS (Dow Jones)--There is a feeling that Greece may need to take further action to deal with its economic problems, Spain's finance minister said as she arrived for a meeting of European Union finance ministers Tuesday.
Elena Salgado said the ministers discussed Greece Monday and heard about the progress of the country's EU and International Monetary Fund loan program from the country's finance minister.
"We have to wait for the end of the [EU/IMF] mission which will take a few days to complete its work, but there is a feeling that perhaps an additional measure will be required," she said.
The meeting Monday ran late into the night, with ministers debating how to solve a massive problem: The EUR110 billion ($155 billion) bailout they approved for Greece last year isn't enough to carry the country through to 2012, unless it recovers its ability to borrow from private markets.
As a result, ministers are debating whether to give Greece more money, or to push for some form of debt restructuring--or both.
The meeting of finance ministers has also been rocked by the arrest of IMF Managing Director Dominique Strauss-Kahn for sexually assaulting a maid at a Manhattan hotel Saturday.
Strauss-Kahn appeared in a New York City courtroom Monday, where a judge denied bail and ordered him held in custody. Strauss-Kahn's attorneys said the IMF chief, who was tipped to run for the French presidency, denies the charges.
Asked if Strauss-Kahn should quit his job at the IMF, Salgado said that was a decision for him to take, but the crimes he has been accused of are very serious and he has been formally charged.
"So for the time being we must let justice take its course, but the charges are extremely severe," Salgado said, adding that her solidarity is firstly with the woman who has suffered an assault if that indeed proves to be the case.
Spain Fin Min: Greece May Need To Take Further Action
(Adds background, comment.)
By Nicholas Winning
Of DOW JONES NEWSWIRES
BRUSSELS (Dow Jones)--There is a feeling that Greece may need to take further action to deal with its economic problems, Spain's finance minister said as she arrived for a meeting of European Union finance ministers Tuesday.
Elena Salgado said the ministers discussed Greece Monday and heard about the progress of the country's EU and International Monetary Fund loan program from the country's finance minister.
"We have to wait for the end of the [EU/IMF] mission which will take a few days to complete its work, but there is a feeling that perhaps an additional measure will be required," she said.
The meeting Monday ran late into the night, with ministers debating how to solve a massive problem: The EUR110 billion ($155 billion) bailout they approved for Greece last year isn't enough to carry the country through to 2012, unless it recovers its ability to borrow from private markets.
As a result, ministers are debating whether to give Greece more money, or to push for some form of debt restructuring--or both.
The meeting of finance ministers has also been rocked by the arrest of IMF Managing Director Dominique Strauss-Kahn for sexually assaulting a maid at a Manhattan hotel Saturday.
Strauss-Kahn appeared in a New York City courtroom Monday, where a judge denied bail and ordered him held in custody. Strauss-Kahn's attorneys said the IMF chief, who was tipped to run for the French presidency, denies the charges.
Asked if Strauss-Kahn should quit his job at the IMF, Salgado said that was a decision for him to take, but the crimes he has been accused of are very serious and he has been formally charged.
"So for the time being we must let justice take its course, but the charges are extremely severe," Salgado said, adding that her solidarity is firstly with the woman who has suffered an assault if that indeed proves to be the case.
tommy271
Forumer storico
In questo caso non il retail ...
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