Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
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gianfranco199
Forumer attivo
Che giornata fantastica ...tra GGB e Bonos.Botte da orbi, ancora.Ho deciso di uscire,ma da casa...Buona serata
Vet
Forumer storico
Dai ragazzi aspettiamo martedì.......ci dovrebbe essere l'incontro di papa con la parte di governo che non vuol sentire parlare di cartolarizzazione di beni pubblici e tagli vari a mo di lacrime e sangue per il popolo greco.......io a dire il vero se fossi papa comincerei a dare, nel we, in pasto al popolo quelli che hanno truccato i bilanci (di cui se ne parla sempre molto poco) .....giusto per togliersi qualche soddisfazione.........ma sembra che qualcuno di loro si sia già trasferito in Thai......... in attesa del default americano........quello speriamo proprio di no......sai che disastro......l' occidente ritorna al medioevo.....e risorge ll'oriente.......corsi e ricorsi....ma andrà tutto bene.....
tommy271
Forumer storico
E' da un paio di giorni che la Spagna è presa di mira ... la Grecia è il pretesto.
Per questo diventa auspicabile concretizzare qualcosa, rispetto al piano di aiuti per Atene, in questo fine settimana
tommy271
Forumer storico
S&P cuts Credit Agricole ratings on Greek debt
SAN FRANCSICO (MarketWatch) -- Standard & Poor's lowered its rating on Credit Agricole SA because of the French bank's wide exposure to Greece sovereign debt. S&P lowered its long-term counterparty rating on Credit Agricole to A+ from AA-, and its short-term counterparty rating to A-1 from A-1+. The outlook is stable. "The downgrades reflect our view that reduced creditworthiness of the Greek sovereign puts pressure on [Credit Agricole's] financial profile, given its exposure to the troubled Greek economy, mostly through its subsidiary Emporiki Bank of Greece," S&P said in a statement.
SAN FRANCSICO (MarketWatch) -- Standard & Poor's lowered its rating on Credit Agricole SA because of the French bank's wide exposure to Greece sovereign debt. S&P lowered its long-term counterparty rating on Credit Agricole to A+ from AA-, and its short-term counterparty rating to A-1 from A-1+. The outlook is stable. "The downgrades reflect our view that reduced creditworthiness of the Greek sovereign puts pressure on [Credit Agricole's] financial profile, given its exposure to the troubled Greek economy, mostly through its subsidiary Emporiki Bank of Greece," S&P said in a statement.
tommy271
Forumer storico
Shadow economy expert Schneider warns against further tax increases in ANA-MPA interview
Any further increase in Greek taxes, either direct or indirect, would be a major mistake that would counteract efforts to bring Greece's public debt under control, according to Austrian expert Dr. Friedrich Schneider, a leading authority on the global informal economy.
In an interview with the ANA-MPA released on Friday, during his visit to Thessaloniki, Scheider said that any tax increase would drive an even greater proportion of the population into the informal economy and decimate its real purchasing power, ultimately reducing public revenues.
"Based on my calculations, the informal economy in Greece is forecast to reach 25.8 percent of the official GDP this year from 25.4 percent or 62.8 billion euro last year. This is the largest percentage among the 21 countries of the Organisation for Economic Cooperation and Development (OECD). If the recession continues, meanwhile, the informal economy will increase in size, especially if the Greek government is forced by the IMF and EU to proceed with another round of tax increases," Schneider warned.
The Austrian academic cited the results of 12 studies showing that the effect of raising taxes and social insurance contributions on the informal economy reached up to 35-38 percent.
"I think Greece has reached the point where there is no point in increasing taxes. If you increase taxes any more, people will start going to Skopje where taxation is much lower. From where we are, the Balkans are next door. In my opinion, all tax increases must stop," he added.
In fact, he asserted that a reduction of some taxes would actually bring in higher revenues for the government by increasing the purchasing power of Greeks.
According to Schneider, a return to growth could be achieved through privatisations, tax incentives and developing tourism.
He appeared upbeat about Greece's prospects of emerging from the crisis, noting that Greek people were creative, hard-working and that labour productivity in several areas was at the right level, such as in tourism, though a series of benefits in the public sector were not sustainable.
Based on his own research, Greece will be the only OECD country that will see its informal economy grow in 2011 compared with the previous year. The average size of the informal economy in OECD countries is not expected to exceed 13.4 percent this year.
In 2010, Greece shared 10th place with Poland among 31 European countries for the size of its informal economy relative to GDP (25.4 percent). Topping the list were Bulgaria (32.6 percent), with Romania and Croatia sharing second place (29.8 percent) and Lithuania third (29.7 percent).
Hotel, restaurant and catering services accounted for 13.8 billion euro of Greece's informal economy in 2009-2010, or 22 percent of the total, followed by construction (20 percent), vehicles/machinery trade (19 percent) and various services (18 percent).
Surprisingly, he suggested that the large shadow economy might even be acting as a stabilising factor for the Greek economy at present, since it was the only alternative for a large section of the population. He also played down the government's losses of revenue due to the shadow economy, since two thirds of the 'black' economy funds returned to the official economy through consumption.
Another thing stressed by the economist was the need to make a more precise calculation of the shadow economy's size in order to discover how much added value the Greek economy generates.
Macedonia University economists deplored a decision on Thursday to decline funding for precisely such a survey, supervised by Schneider, which would have had a budget of 450,000 euro over three years.
The Austrian academic has researched the phenomenon of the informal economy for over 30 years in 145 countries, acting as an advisor to the International Monetary Fund, the World Bank and the European Commission.
(ana.gr)
***
Economia informale = economia in nero
Any further increase in Greek taxes, either direct or indirect, would be a major mistake that would counteract efforts to bring Greece's public debt under control, according to Austrian expert Dr. Friedrich Schneider, a leading authority on the global informal economy.
In an interview with the ANA-MPA released on Friday, during his visit to Thessaloniki, Scheider said that any tax increase would drive an even greater proportion of the population into the informal economy and decimate its real purchasing power, ultimately reducing public revenues.
"Based on my calculations, the informal economy in Greece is forecast to reach 25.8 percent of the official GDP this year from 25.4 percent or 62.8 billion euro last year. This is the largest percentage among the 21 countries of the Organisation for Economic Cooperation and Development (OECD). If the recession continues, meanwhile, the informal economy will increase in size, especially if the Greek government is forced by the IMF and EU to proceed with another round of tax increases," Schneider warned.
The Austrian academic cited the results of 12 studies showing that the effect of raising taxes and social insurance contributions on the informal economy reached up to 35-38 percent.
"I think Greece has reached the point where there is no point in increasing taxes. If you increase taxes any more, people will start going to Skopje where taxation is much lower. From where we are, the Balkans are next door. In my opinion, all tax increases must stop," he added.
In fact, he asserted that a reduction of some taxes would actually bring in higher revenues for the government by increasing the purchasing power of Greeks.
According to Schneider, a return to growth could be achieved through privatisations, tax incentives and developing tourism.
He appeared upbeat about Greece's prospects of emerging from the crisis, noting that Greek people were creative, hard-working and that labour productivity in several areas was at the right level, such as in tourism, though a series of benefits in the public sector were not sustainable.
Based on his own research, Greece will be the only OECD country that will see its informal economy grow in 2011 compared with the previous year. The average size of the informal economy in OECD countries is not expected to exceed 13.4 percent this year.
In 2010, Greece shared 10th place with Poland among 31 European countries for the size of its informal economy relative to GDP (25.4 percent). Topping the list were Bulgaria (32.6 percent), with Romania and Croatia sharing second place (29.8 percent) and Lithuania third (29.7 percent).
Hotel, restaurant and catering services accounted for 13.8 billion euro of Greece's informal economy in 2009-2010, or 22 percent of the total, followed by construction (20 percent), vehicles/machinery trade (19 percent) and various services (18 percent).
Surprisingly, he suggested that the large shadow economy might even be acting as a stabilising factor for the Greek economy at present, since it was the only alternative for a large section of the population. He also played down the government's losses of revenue due to the shadow economy, since two thirds of the 'black' economy funds returned to the official economy through consumption.
Another thing stressed by the economist was the need to make a more precise calculation of the shadow economy's size in order to discover how much added value the Greek economy generates.
Macedonia University economists deplored a decision on Thursday to decline funding for precisely such a survey, supervised by Schneider, which would have had a budget of 450,000 euro over three years.
The Austrian academic has researched the phenomenon of the informal economy for over 30 years in 145 countries, acting as an advisor to the International Monetary Fund, the World Bank and the European Commission.
(ana.gr)
***
Economia informale = economia in nero
tommy271
Forumer storico
New austerity measures coming
Finance Ministry’s latest plans to boost revenues include increasing levies for property owners
Increased taxes on property owners with assets worth more than 400,000 euros, a reduction in allowances paid to public servants and a levy on soft drinks are among the options the Finance Ministry is looking into as a means of saving 26 billion euros until 2015.
With representatives from the European Commission, European Central Bank and International Monetary Fund having left Athens for a short period, the ministry is looking for ways to find 6 billion euros’ worth of savings or revenues for the year in a bid to convince investors that Greece is on track to reducing its deficit by 2015.
According to sources, the government is looking at lowering the tax-free threshold for property owners. Currently, only those with assets worth more 400,000 euros are hit with a property levy, however, the ministry is looking into dropping this cut-off mark to 300,000 euros.
If implemented, the measure will apply from 2010, which means that property owners will have to pay backdated taxes as of January last year.
The government is also considering increasing a tax paid on large property portfolios, which means assets worth more 400,000 euros, a source added.
Government data show that about 150,000 taxpayers in the country own assets worth more than 400,000 euros.
Other options the ruling Socialists are looking into in an effort to bump up revenues is through the introduction of levies on natural gas and soft drinks, as of the start of next year.
With the country in its third year of recession and consumption and investment activity falling, Greece is struggling to bring in revenues, which fell short of annual targets early in the year.
Government figures for the first four months of 2011 show that net ordinary budget revenue totaled 14.46 billion euros, down 9.2 percent year-on-year, compared with a January-April target of 16.34 billion euros.
Other planned revenue-raisers the government is eyeing is upping several goods from the lower 13 percent value-added tax group to the higher 23 percent group.
The reduction of tax breaks for first-home buyers is also being examined, the source added.
The ministry is expected to unveil its medium-term 2011-15 strategy aimed at helping restore the country’s fiscal health in the next few days.
ekathimerini.com , Friday May 20, 2011 (20:34)
Finance Ministry’s latest plans to boost revenues include increasing levies for property owners
With representatives from the European Commission, European Central Bank and International Monetary Fund having left Athens for a short period, the ministry is looking for ways to find 6 billion euros’ worth of savings or revenues for the year in a bid to convince investors that Greece is on track to reducing its deficit by 2015.
According to sources, the government is looking at lowering the tax-free threshold for property owners. Currently, only those with assets worth more 400,000 euros are hit with a property levy, however, the ministry is looking into dropping this cut-off mark to 300,000 euros.
If implemented, the measure will apply from 2010, which means that property owners will have to pay backdated taxes as of January last year.
The government is also considering increasing a tax paid on large property portfolios, which means assets worth more 400,000 euros, a source added.
Government data show that about 150,000 taxpayers in the country own assets worth more than 400,000 euros.
Other options the ruling Socialists are looking into in an effort to bump up revenues is through the introduction of levies on natural gas and soft drinks, as of the start of next year.
With the country in its third year of recession and consumption and investment activity falling, Greece is struggling to bring in revenues, which fell short of annual targets early in the year.
Government figures for the first four months of 2011 show that net ordinary budget revenue totaled 14.46 billion euros, down 9.2 percent year-on-year, compared with a January-April target of 16.34 billion euros.
Other planned revenue-raisers the government is eyeing is upping several goods from the lower 13 percent value-added tax group to the higher 23 percent group.
The reduction of tax breaks for first-home buyers is also being examined, the source added.
The ministry is expected to unveil its medium-term 2011-15 strategy aimed at helping restore the country’s fiscal health in the next few days.
ekathimerini.com , Friday May 20, 2011 (20:34)
tommy271
Forumer storico
Downgrade from Fitch
Finance Minister Giorgos Papaconstantinou is seen in a file photo. Late on Friday, the ministry said a decision by Fitch to cuts its rating for Greece failed to take into account additional commitments by Athens to meet budgetary goals for 2011 and speed up its privatization program.
Fitch pushed Greece’s credit rating deeper into junk territory yesterday, warning of even further downgrades if the European Union and the International Monetary Fund do not come up with a credible plan to resolve the country’s debt crisis.
One year into its EU-IMF bailout, Greece is struggling with weak revenues and a deep recession, fueling speculation it will have to restructure its debt to pull itself out of the fiscal mess that triggered a eurozone crisis.
‘The rating downgrade reflects the scale of the challenge facing Greece in implementing a radical fiscal and structural reform program necessary to secure solvency of the state and the foundations for sustained economic recovery,’ Fitch said in a statement.
The three-notch cut to B+ with a negative outlook takes Fitch’s rating into ‘highly speculative’ territory, broadly in line with Standard & Poor’s B rating and Moody’s B1 grade.
ekathimerini.com , Friday May 20, 2011 (20:44)
Fitch pushed Greece’s credit rating deeper into junk territory yesterday, warning of even further downgrades if the European Union and the International Monetary Fund do not come up with a credible plan to resolve the country’s debt crisis.
One year into its EU-IMF bailout, Greece is struggling with weak revenues and a deep recession, fueling speculation it will have to restructure its debt to pull itself out of the fiscal mess that triggered a eurozone crisis.
‘The rating downgrade reflects the scale of the challenge facing Greece in implementing a radical fiscal and structural reform program necessary to secure solvency of the state and the foundations for sustained economic recovery,’ Fitch said in a statement.
The three-notch cut to B+ with a negative outlook takes Fitch’s rating into ‘highly speculative’ territory, broadly in line with Standard & Poor’s B rating and Moody’s B1 grade.
ekathimerini.com , Friday May 20, 2011 (20:44)
ficodindia
Forumer storico
Strano, molto strano ... il mercato
Strano, molto strano che il bond "spazzatura" HELLENIC 3,9% 20/8/2011 oggi abbia chiuso a 98,55.
Qualche riflessione in proposito è gradita.
Strano, molto strano che il bond "spazzatura" HELLENIC 3,9% 20/8/2011 oggi abbia chiuso a 98,55.
Qualche riflessione in proposito è gradita.
Ultima modifica:
fabriziof
Forumer storico
è pur sempre un rendimento annualizzato del 9 % circa per un bond che scade tra 3 mesi
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