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

[tommy271]

Carstens Says IMF Doesn’t Need European Chief to Resolve Euro-Zone Crisis

By Jose Enrique Arrioja and Margaret Brennan - May 24, 2011 5:56 PM GMT+0200 Tue May 24 15:56:43 GMT 2011

Mexico’s Agustin Carstens, the governor of the country’s central bank and a candidate to head the International Monetary Fund, said a European doesn’t need to lead the Washington-based lender to help it resolve a debt crisis in the euro-zone.
Carstens, in an interview, said it was too early to say which countries will back his nomination, though he “has a chance” of winning the race to succeed Dominique Strauss-Kahn if the selection process is conducted in a transparent way based on each candidate’s merits. Carstens served as deputy managing director of the IMF from 2003 to 2006.
“I have heard expressions of sympathy, but most countries in a responsible way are waiting to see who all the candidates are,” Carstens, 52, said today from Mexico City in an interview on Bloomberg Television’s “InBusiness” with Margaret Brennan.
Carstens said he’s read press reports that China may back French Finance Minister Christine Lagarde as the choice to succeed Strauss-Kahn, though he hasn’t heard directly from the Asian nation’s policy makers. He said he’s also had conversations about his bid with U.S. officials.
Carstens said the IMF can help Greece make “tough decisions” regarding its debt, though the fund’s next managing director will have to focus on economic concerns beyond Europe.
“Right now the crisis is in Europe, but we don’t know where the next crisis will be,” said Carstens. “We need a managing director that is there for all the management and who has the capacity to contribute to the resolution of issues in all the world.”

 

[tommy271]

Greek bond market closing report




(ANA-MPA) -- The yield spread between the 10-year Greek and German benchmark bonds shrank to 13.58 pct in the domestic electronic secondary bond market on Tuesday, from 14.02 pct the previous day, as the market reacted positively to the announcement of a Medium-term Fiscal Strategy Framework by the Greek government. The Greek bond yielded 16.63 pct and the German Bund 3.05 pct.

Turnover in the market was a low 36 million euros, of which 27 million euros were buy orders and the remaining 9.0 million euros were sell orders. The five-year benchmark bond was the most heavily traded security with a turnover of 14 million euros.

In interbank markets, interest rates were largely unchanged. The 12-month rate was 2.15 pct, the six-month rate 1.71 pct, the three-month rate 1.43 pct and the one-month rate 1.24 pct.

(ana.gr)

***
Dal mercato interno in Grecia ... ritornano gli acquisti sulla lettera.

 

[g.ln]

Finanza Repubblica.it

Qui Samaras è contrario anche alle privatizzazioni......

Spero che l'articolo qui sia in versione eccessivamente riassuntata. Le privatizzazioni sono indispensabili e un consenso generale sarebbe un'ottima cosa!!!
Giuseppe

 

[tommy271]

Loomis Sayles’ Dan Fuss Says Greek Debt Extension Is Favorable

By Simon Clark - May 24, 2011 6:19 PM GMT+0200 Tue May 24 16:19:26 GMT 2011



An agreement to extend the maturity of Greek sovereign debt would be a favorable outcome for bond investors, Loomis Sayles & Co. Vice Chairman Dan Fuss said.
“It is the most favorable, reasonable outcome from a bondholder’s view,” Fuss said in an interview in London today. Boston-based Loomis Sayles manages $156 billion. Fuss, 77, said he wouldn’t object to extending Greek debt, “not if you don’t mark it down.”
The Greek economy has to start growing to resolve the nation’s economic crisis, Fuss said. “The only way to deal with it is to grow,” he said.
European Central Bank and European Union policy makers are clashing over how to prevent the currency region’s first default. ECB Governing Council member Christian Noyer ruled out a restructuring of Greece’s debt, calling it a “horror story” that would leave the nation shut out of financing for years.
“The lengthening of maturities raises very difficult questions,” Noyer said today. “There’s a strong chance it will be the equivalent of a default.”
European Union finance ministers on May 16 floated the idea of talks with bondholders over extending Greece’s debt-repayment schedule, saying the bailout has failed to restore the country’s financial health. On May 20, Fitch Ratings cut Greece’s credit rating to B+ from BB+, saying that extending its debt maturities would “trigger a credit event and default rating.”
Fuss also said Loomis Sayles will open an office in London this year to be closer to U.K. clients. Loomis Sayles will initially have seven employees including analysts in the office, which will be overseen by Jeff Seaver, Fuss said.



(Bloomberg)

 

[Nobody's]

Greece must cut benefits to get aid: Germany CDU panel






BERLIN | Tue May 24, 2011 8:54am EDT



BERLIN (Reuters) - Debt-laden euro zone countries should only receive further financial aid if they cut social benefits, a pro-business panel in German Chancellor Angela Merkel's ruling conservatives said on Tuesday.
The economic panel of Merkel's conservative Christian Democrats (CDU) said it was not enough for Greece to cut its retirement age to German levels.
Greek pensions are still around 94 percent of average Greek income, while Germans get only 40 percent, said panel head Kurt Lauk, who is not a member of Germany's parliament.
The Bundestag, or lower house of parliament, has no say in the paying out of individual tranches of aid in Greece's bailout agreed last year, but it would be involved in signing off on any further bailout for Greece.
"There can only be aid to bust countries if they pay lower social benefits than the giving countries," said Lauk.
He also criticized Greece for having four times as many public servants as Austria, a country of similar size. At 39.6 percent Greece also recorded the highest increase in wages in the euro zone from 2000 to 2008, Lauk said. In Austria, wages only rose by 2.9 percent.
Greece kick-started a stalled privatization program on Monday and promised tougher austerity measures and tax hikes to meet EU/IMF conditions for the release of a 12 billion euro loan tranche in June, vital for keeping Athens afloat.
EU leaders declared they had adopted a comprehensive package to resolve the euro zone debt crisis in March, but that has not prevented contagion spreading, with Portugal requiring a bailout and markets piling pressure on Greece, Spain, Italy and Belgium.
"Greece must save, reform and most of all privatize," Lauk said. Peripheral euro zone countries should only receive financial aid if they introduce rigid debt brakes into their constitutions, like in Germany, Lauk added.

Anche se sono per antonomasia anti-germanico, lo trovo molto sensato.

 

[Nobody's]

Comunque da quel che ho capito l' ecofin si ritrova il 20/21 / 06....per il 24 è tutto finito......

Il troika non si è capito quando dirà la sua però.....

 

[tommy271]

Comunque da quel che ho capito l' ecofin si ritrova il 20/21 / 06....per il 24 è tutto finito......

Il troika non si è capito quando dirà la sua però.....

La Troika aspetterà l'approvazione da parte del Parlamento, prima di esprimere il suo giudizio.
Ritengo che approverà e rilascerà la Quinta trance.
Poi il tutto verrà discusso e si passerà a formulare il successivo piano da 50/60 MLD. Credo che assieme a questo prenderà avvio una proposta di reprofiling volontario indirizzata agli Istituzionali.

 

[Nobody's]

l'approvazione da parte del Parlamento

Sai l' agenda su questo?

 

[Nobody's]

Credo che assieme a questo prenderà avvio una proposta di reprofiling volontario indirizzata agli Istituzionali.

Voglio proprio vedere come fanno

 

[tommy271]

Sai l' agenda su questo?

Credo che la discussione inizierà domani.