Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
- Creatore Discussione Imark
- Data di Inizio
- Stato
tommy271
Forumer storico
Decisions On New Package Expected From Day To Day
The Greek government runs a two-level race against time since Thursday. The Ministry of Finance attempts to finalize the package of measures, which is considered inadequate by the Troika so far. Meanwhile, officials close to the Prime Minister are seeking the way to make the measures politically acceptable and achieve a consensus with the opposition.
The departure of IMF representative Poul Thomsen, who had to deal with the Portuguese issue according to Greek official, was combined with the pause of negotiations with the Troika. The Greek government was asked to finalize the new package, filling its gaps.
The objective is to reach to an acceptable solution, no later than Sunday, in order to proceed with political decisions. The cabinet is expected to approve the measures on Monday of Tuesday, targeting to avoid loud reactions. A series of meeting between the Prime Minister and opposition leaders is under discussion.
During the consecutive meetings, government officials put on the table all the major issues: privatizations, lack of detailed planning of spending cuts and inertness in political interventions in single payroll and staff dismissals-transfers.
Regarding privatizations, the target of €15b has been postponed for next year, while the decisions on state-controlled listed companies will be accelerated. The decision to reduce salaries in betting company OPAP was interpreted as an intention for similar interventions also in other companies such as OTE, in order to slow down the reactions of potential buyers. The Troika calls for a clearer schedule and a detailed capture of government’s intentions.
There are strong objections about the raising of additional €6b in 2011. New scenarios of tax increases were examined, while the acceleration of measures of 2012 is promoted, targeting the immediate cut of public spending.
The issue of staff reductions in the broader public is still on cards, with strong disagreements among top ministers. The Troika is reportedly unhappy with the lack of a detailed plan for each ministry.
(capital.gr)
The Greek government runs a two-level race against time since Thursday. The Ministry of Finance attempts to finalize the package of measures, which is considered inadequate by the Troika so far. Meanwhile, officials close to the Prime Minister are seeking the way to make the measures politically acceptable and achieve a consensus with the opposition.
The departure of IMF representative Poul Thomsen, who had to deal with the Portuguese issue according to Greek official, was combined with the pause of negotiations with the Troika. The Greek government was asked to finalize the new package, filling its gaps.
The objective is to reach to an acceptable solution, no later than Sunday, in order to proceed with political decisions. The cabinet is expected to approve the measures on Monday of Tuesday, targeting to avoid loud reactions. A series of meeting between the Prime Minister and opposition leaders is under discussion.
During the consecutive meetings, government officials put on the table all the major issues: privatizations, lack of detailed planning of spending cuts and inertness in political interventions in single payroll and staff dismissals-transfers.
Regarding privatizations, the target of €15b has been postponed for next year, while the decisions on state-controlled listed companies will be accelerated. The decision to reduce salaries in betting company OPAP was interpreted as an intention for similar interventions also in other companies such as OTE, in order to slow down the reactions of potential buyers. The Troika calls for a clearer schedule and a detailed capture of government’s intentions.
There are strong objections about the raising of additional €6b in 2011. New scenarios of tax increases were examined, while the acceleration of measures of 2012 is promoted, targeting the immediate cut of public spending.
The issue of staff reductions in the broader public is still on cards, with strong disagreements among top ministers. The Troika is reportedly unhappy with the lack of a detailed plan for each ministry.
(capital.gr)
tommy271
Forumer storico
E' vero, sono sempre in anticipo.
Infatti c'è la sensazione che siamo ad un punto di svolta.
Nobody's
Γένοιο οἷος εἷ
In questa situazione ho molta difficoltà a fidarmi del mercato...sono orientato ad andarci contro....
Siamo a un bivio secondo me....vedremo
tommy271
Forumer storico
Nobody's
Γένοιο οἷος εἷ
tommy271
Forumer storico
Speriamo...o resto secco
Io, da "contrarian", tengo le dita incrociate.
tommy271
Forumer storico
ECB tells Athens forget reprofiling, take measures: report
3:28 a.m. CDT, May 20, 2011
ATHENS (Reuters) - Europe's Central Bank wants Greece to drop debt reprofiling ideas and focus on economic reforms to fix its finances, its former vice president Lucas Papademos told Athens, daily Ta Nea reported on Friday.
Papademos, who is currently advising Prime Minister George Papandreou, conveyed the message by ECB President Jean Claude Trichet during a meeting with Papandreou on Thursday, the paper said.
"Forget about lengthening maturities, take measures now was the content of the stern message of ECB chief Jean-Claude Trichet that former vice-president Lucas Papademos delivered to the Greek government," the paper said citing sources.
The ECB has raised the stakes in its bid to prevent a restructuring of Greek debt by telling governments it would refuse to accept the bonds as collateral in the event of such a move.
The threat, made by ECB Executive Board member Juergen Stark at a conference in Athens on Wednesday came after European finance ministers raised the possibility of a "soft restructuring" via debt maturity extensions earlier this week.
Ta Nea said Papademos told Papandreou that Trichet and other senior ECB policymakers were of the view that Athens must proceed fast with privatisations.
3:28 a.m. CDT, May 20, 2011
ATHENS (Reuters) - Europe's Central Bank wants Greece to drop debt reprofiling ideas and focus on economic reforms to fix its finances, its former vice president Lucas Papademos told Athens, daily Ta Nea reported on Friday.
Papademos, who is currently advising Prime Minister George Papandreou, conveyed the message by ECB President Jean Claude Trichet during a meeting with Papandreou on Thursday, the paper said.
"Forget about lengthening maturities, take measures now was the content of the stern message of ECB chief Jean-Claude Trichet that former vice-president Lucas Papademos delivered to the Greek government," the paper said citing sources.
The ECB has raised the stakes in its bid to prevent a restructuring of Greek debt by telling governments it would refuse to accept the bonds as collateral in the event of such a move.
The threat, made by ECB Executive Board member Juergen Stark at a conference in Athens on Wednesday came after European finance ministers raised the possibility of a "soft restructuring" via debt maturity extensions earlier this week.
Ta Nea said Papademos told Papandreou that Trichet and other senior ECB policymakers were of the view that Athens must proceed fast with privatisations.
- Stato
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