Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1
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tommy271
Forumer storico
Default unlikely for now even if Greece votes "no"
By Daniel Flynn and Renee Maltezou
ATHENS | Tue Jun 28, 2011 1:03pm EDT
ATHENS (Reuters) - The Greek parliament appears increasingly likely to approve vital austerity steps this week, but even if it votes against them, other euro zone states are unlikely to let Athens stumble into a disorderly default on its debt.
A "no" in Wednesday's ballot on a five-year austerity program, or in Thursday's vote on legislation to implement it, would not only cut Greece off from a vital 12 billion euro tranche of international aid but also trigger political chaos inside the country.
With the conservative opposition having rejected calls for a national unity government, Socialist Prime Minister George Papandreou would probably be forced to call early elections.
It would almost certainly take weeks to form a new government, and there would be no guarantee that a new parliament would deliver the "yes" votes that are conditions for the aid. Greece has said it needs the aid by mid-July to avoid defaulting.
The European Union's Economics and Monetary Affairs Commissioner, Olli Rehn, warned on Tuesday that there was no 'Plan B' if Greece failed to pass the laws.
But behind the scenes, EU officials say discussion has been going on for weeks to ensure that Greece gets enough money to tide it over regardless of the result of the votes. The aim is to prevent financial market instability from spreading to other weak economies -- Ireland, Portugal and Spain -- and to Europe's banking system.
"We cannot allow Greece to go into the abyss," one EU official source told Reuters.
BANKS A PRIORITY
With the governments of countries including Germany, Finland and the Netherlands frustrated by weeks of political wrangling in Athens, EU officials have been trying to convince Greek politicians this is their last chance to satisfy international donors, sources say. Hence Rehn's tough tone on Tuesday.
Some EU officials hope the tough stance could prompt Greek legislators, if they initially vote "no," to organize an emergency vote and pass the austerity steps before a meeting of euro zone finance ministers decides on Sunday whether to disburse the aid.
Failing that, the EU would seek to come up with some form of financing to keep Greece afloat until the Greek parliament could be persuaded to pass an austerity plan acceptable to the EU and the International Monetary Fund.
The sources said some options, such as an EU bridging loan for Greece, had been ruled out. One option might be bilateral loans from individual governments or other institutions, possibly outside Europe.
Chinese Premier Wen Jiabao, visiting Germany on Tuesday, repeated that his country was willing to give Europe a "helping hand" in its debt crisis. However, relying solely on Chinese aid would be politically embarrassing for Europe.
The EU is also discussing plans to recapitalize banks to insulate them against the impact of a potential Greek default, based on the results of a second, stricter round of stress tests of the health of European banks. The results of the tests are due in mid-July.
It is conceivable that even without aid, Greece could roll over some 4.4 billion euros of three- and six-month Treasury bills due to mature on July 15 and 22, but it is expected to be unable without aid to redeem 5.9 billion euros of five-year bonds it has falling due on August 20.
"The financial experts, the central bankers, the ECB (European Central Bank) people have to work out their scenarios for practically all variations of economic life, but we politicians do well to encourage the Greeks to do what they have to do," Austrian Chancellor Werner Faymann said on Tuesday.
INCREASING OPTIMISM
There are some signs that the EU's tough talks is working. Greece's center-right newspaper Kathimerini warned politicians against testing the nerve of the country's European partners.
"No one can be this irresponsible, accepting to toy with the scenario of the country's uncontrolled bankruptcy," it said.
While Greek protestors clashed with police in Syntagma square outside parliament on Tuesday, optimism was growing that within the 300-seat chamber, Papandreou would achieve the 151 votes he needs to approve each of the laws.
Three members of his PASOK party, which has a slender majority with 155 seats, had appeared to waver in recent days. But even members of the conservative New Democracy opposition party told Reuters on Tuesday they expected the laws to pass.
"The government is going to pass the vote quite easily, probably not just with the votes of all of the PASOK legislators, but also with some of the opposition," said Costas Panagopoulos of pollster ALCO.
"It's going to be much easier than it appeared a couple of days ago."
New Democracy leader Antonis Samaras has insisted that if the measures are not approved, Greece should go back to the EU and IMF to renegotiate new terms -- which could take months.
To win over party doubters, new Finance Minister Evangelos Venizelos, appointed in a reshuffle this month, promised to reopen talks on unpopular tax increases, once the payment of the 12 billion euro loan tranche has secured funding until September. That appeared to be enough to appease some critics in his party.
"We will make a move to save the country, while recognizing that the measures are problematic and unfair, in order to gain time and solve the problem," said Odysseas Constantinopoulos, a PASOK deputy who has strongly criticized the austerity package.
"European citizens should recognize and support our efforts. We want to live together, as a family."
By Daniel Flynn and Renee Maltezou
ATHENS | Tue Jun 28, 2011 1:03pm EDT
ATHENS (Reuters) - The Greek parliament appears increasingly likely to approve vital austerity steps this week, but even if it votes against them, other euro zone states are unlikely to let Athens stumble into a disorderly default on its debt.
A "no" in Wednesday's ballot on a five-year austerity program, or in Thursday's vote on legislation to implement it, would not only cut Greece off from a vital 12 billion euro tranche of international aid but also trigger political chaos inside the country.
With the conservative opposition having rejected calls for a national unity government, Socialist Prime Minister George Papandreou would probably be forced to call early elections.
It would almost certainly take weeks to form a new government, and there would be no guarantee that a new parliament would deliver the "yes" votes that are conditions for the aid. Greece has said it needs the aid by mid-July to avoid defaulting.
The European Union's Economics and Monetary Affairs Commissioner, Olli Rehn, warned on Tuesday that there was no 'Plan B' if Greece failed to pass the laws.
But behind the scenes, EU officials say discussion has been going on for weeks to ensure that Greece gets enough money to tide it over regardless of the result of the votes. The aim is to prevent financial market instability from spreading to other weak economies -- Ireland, Portugal and Spain -- and to Europe's banking system.
"We cannot allow Greece to go into the abyss," one EU official source told Reuters.
BANKS A PRIORITY
With the governments of countries including Germany, Finland and the Netherlands frustrated by weeks of political wrangling in Athens, EU officials have been trying to convince Greek politicians this is their last chance to satisfy international donors, sources say. Hence Rehn's tough tone on Tuesday.
Some EU officials hope the tough stance could prompt Greek legislators, if they initially vote "no," to organize an emergency vote and pass the austerity steps before a meeting of euro zone finance ministers decides on Sunday whether to disburse the aid.
Failing that, the EU would seek to come up with some form of financing to keep Greece afloat until the Greek parliament could be persuaded to pass an austerity plan acceptable to the EU and the International Monetary Fund.
The sources said some options, such as an EU bridging loan for Greece, had been ruled out. One option might be bilateral loans from individual governments or other institutions, possibly outside Europe.
Chinese Premier Wen Jiabao, visiting Germany on Tuesday, repeated that his country was willing to give Europe a "helping hand" in its debt crisis. However, relying solely on Chinese aid would be politically embarrassing for Europe.
The EU is also discussing plans to recapitalize banks to insulate them against the impact of a potential Greek default, based on the results of a second, stricter round of stress tests of the health of European banks. The results of the tests are due in mid-July.
It is conceivable that even without aid, Greece could roll over some 4.4 billion euros of three- and six-month Treasury bills due to mature on July 15 and 22, but it is expected to be unable without aid to redeem 5.9 billion euros of five-year bonds it has falling due on August 20.
"The financial experts, the central bankers, the ECB (European Central Bank) people have to work out their scenarios for practically all variations of economic life, but we politicians do well to encourage the Greeks to do what they have to do," Austrian Chancellor Werner Faymann said on Tuesday.
INCREASING OPTIMISM
There are some signs that the EU's tough talks is working. Greece's center-right newspaper Kathimerini warned politicians against testing the nerve of the country's European partners.
"No one can be this irresponsible, accepting to toy with the scenario of the country's uncontrolled bankruptcy," it said.
While Greek protestors clashed with police in Syntagma square outside parliament on Tuesday, optimism was growing that within the 300-seat chamber, Papandreou would achieve the 151 votes he needs to approve each of the laws.
Three members of his PASOK party, which has a slender majority with 155 seats, had appeared to waver in recent days. But even members of the conservative New Democracy opposition party told Reuters on Tuesday they expected the laws to pass.
"The government is going to pass the vote quite easily, probably not just with the votes of all of the PASOK legislators, but also with some of the opposition," said Costas Panagopoulos of pollster ALCO.
"It's going to be much easier than it appeared a couple of days ago."
New Democracy leader Antonis Samaras has insisted that if the measures are not approved, Greece should go back to the EU and IMF to renegotiate new terms -- which could take months.
To win over party doubters, new Finance Minister Evangelos Venizelos, appointed in a reshuffle this month, promised to reopen talks on unpopular tax increases, once the payment of the 12 billion euro loan tranche has secured funding until September. That appeared to be enough to appease some critics in his party.
"We will make a move to save the country, while recognizing that the measures are problematic and unfair, in order to gain time and solve the problem," said Odysseas Constantinopoulos, a PASOK deputy who has strongly criticized the austerity package.
"European citizens should recognize and support our efforts. We want to live together, as a family."
tommy271
Forumer storico
RESTRUCTURING: Greece to use privatisation proceeds to buy back debt
28 June 2011
Greece intends to use any proceeds from its planned €50bn privatisation programme to buy back government debt, the country’s most senior official in charge of the process told a London conference a day before the Greek Parliament was to vote on the latest austerity package.
(ifre.com)
28 June 2011
Greece intends to use any proceeds from its planned €50bn privatisation programme to buy back government debt, the country’s most senior official in charge of the process told a London conference a day before the Greek Parliament was to vote on the latest austerity package.
(ifre.com)
tommy271
Forumer storico
tommy271
Forumer storico
Oggi il Parlamento greco voterà il nuovo piano di austerità
Dall'esito dipende lo sblocco dei fondi stanziati da Fmi e Ue. Previste nuove manifestazioni nella seconda giornata di sciopero
Atene, 29 giu. (TMNews) - Giorno della verità per la Grecia e l'euro: ad Atene il Parlamento è chiamato a votare quattro anni di austerità per garantire al Paese nuovi aiuti finanziari, nonostante la rabbia della popolazione, in sciopero da ieri.
I deputati voteranno il piano di bilancio pluriennale, una legge quadro che prevede 28,4 miliardi di tagli tra il 2012 e il 2015 e 50 miliardi di privatizzazioni.
Domani, il parlamento voterà quindi la legge d'attuazione. L'Unione europea e il Fondo monetario internazionale attendono il via libera del Parlamento greco a questo nuovo piano di austerity per sbloccare la quinta tranche del prestito di 110 miliardi di euro garantito ad Atene lo scorso anno e per iniziare a definire un secondo piano di salvataggio. Il governo dispone di una maggioranza di cinque voti in Parlamento, 155 seggi su 300 e, nonostante alcune voci di dissenso, dovrebbe ottenere il via libera al piano, secondo la maggior parte degli analisti.
Oggi nel Paese sono previste nuove manifestazione di protesta, in concomitanza con la seconda giornata di sciopero generale indetto dal sindacato. Il movimento degli "indignados" ha annunciato di voler circondare il Parlamento, per impedire, almeno simbolicamente il voto. Ieri, gli scontri scoppiati a margine della manifestazione hanno causato 27 feriti, tra cui 21 poliziotti.
Dall'esito dipende lo sblocco dei fondi stanziati da Fmi e Ue. Previste nuove manifestazioni nella seconda giornata di sciopero
Atene, 29 giu. (TMNews) - Giorno della verità per la Grecia e l'euro: ad Atene il Parlamento è chiamato a votare quattro anni di austerità per garantire al Paese nuovi aiuti finanziari, nonostante la rabbia della popolazione, in sciopero da ieri.
I deputati voteranno il piano di bilancio pluriennale, una legge quadro che prevede 28,4 miliardi di tagli tra il 2012 e il 2015 e 50 miliardi di privatizzazioni.
Domani, il parlamento voterà quindi la legge d'attuazione. L'Unione europea e il Fondo monetario internazionale attendono il via libera del Parlamento greco a questo nuovo piano di austerity per sbloccare la quinta tranche del prestito di 110 miliardi di euro garantito ad Atene lo scorso anno e per iniziare a definire un secondo piano di salvataggio. Il governo dispone di una maggioranza di cinque voti in Parlamento, 155 seggi su 300 e, nonostante alcune voci di dissenso, dovrebbe ottenere il via libera al piano, secondo la maggior parte degli analisti.
Oggi nel Paese sono previste nuove manifestazione di protesta, in concomitanza con la seconda giornata di sciopero generale indetto dal sindacato. Il movimento degli "indignados" ha annunciato di voler circondare il Parlamento, per impedire, almeno simbolicamente il voto. Ieri, gli scontri scoppiati a margine della manifestazione hanno causato 27 feriti, tra cui 21 poliziotti.
tommy271
Forumer storico
Borse Europa impostate per avvio in rialzo, ottimismo su Grecia
mercoledì 29 giugno 2011 07:53
LONDRA, 29 giugno (Reuters) - L'azionario del Vecchio Continente è impostato per una partenza al rialzo, ponendosi in scia della chiusura di Wall Street e dell'andamento delle borse asiatiche.
C'è ottimismo per l'evoluzione della crisi del debito in Grecia: il piano di misure di austerità, voluto dal governo di Atene e propedeutico all'ottenimento di una nuova tranche di aiuti internazionali, oggi verrà sottoposto a un primo voto parlamentare.
I bookmaker a Londra prevedono che il FTSE 100 .FTSE apra in rialzo di 27-30 punti, il DAX .GDAXI di 33-47 punti e il CAC-40 .FCHI di 15-16 punti.
Ieri, l'indice FTSEurofirst 300 .FTEU3 ha terminato con un progresso dello 0,56%.
mercoledì 29 giugno 2011 07:53
LONDRA, 29 giugno (Reuters) - L'azionario del Vecchio Continente è impostato per una partenza al rialzo, ponendosi in scia della chiusura di Wall Street e dell'andamento delle borse asiatiche.
C'è ottimismo per l'evoluzione della crisi del debito in Grecia: il piano di misure di austerità, voluto dal governo di Atene e propedeutico all'ottenimento di una nuova tranche di aiuti internazionali, oggi verrà sottoposto a un primo voto parlamentare.
I bookmaker a Londra prevedono che il FTSE 100 .FTSE apra in rialzo di 27-30 punti, il DAX .GDAXI di 33-47 punti e il CAC-40 .FCHI di 15-16 punti.
Ieri, l'indice FTSEurofirst 300 .FTEU3 ha terminato con un progresso dello 0,56%.
tommy271
Forumer storico
Greek Growth Minister Confident That Vote Will Pass
Published: Wednesday, 29 Jun 2011 | 2:07 AM ET
By: Carolin Schober
CNBC Correspondent, Zurich
In an interview with CNBC, Greece's minister for growth, competitiveness and shipping, Michalis Chrisochoides, was utterly confident that his PASOK party will be able to push through the unpopular medium-term austerity package.
The fiscal program is scheduled to go through parliament in two separate votes on Wednesday and Thursday, and Chrisochoides said that he was convinced that "PASOK MPs will do their duty"as everyone in the country understands that the vote is "very critical."
While he dismissed talk of a potential default, Chrisochoides said the inertia by EU officials isn't helping to restore confidence.
"I think it's a slow death when every day we have announcements, statements from several European leaders without making decisions," he said.
"So the Europeans have to make decisions about the debt, while the Greek have to find a logical solution on how to save the Greek people, serve the very big debt and on the other hand we have to prepare a package for the development," he added.
Michalis Chrisochoides is one of the few ministers who managed to cling to his old post in the Socialist Party's cabinet reshuffle two weeks ago.
His job as a Greek minister for growth, competitiveness and shipping won't get any easier though, as economists agree that once the country's debt and deficit are solved, lack of competitiveness will still remain Greece's fundamental problem.
Asked about why Greece hasn't been able to attract foreign direct investments, the minister admitted that Greece's economy was lacking exports, dynamisms and innovation.
"I believe now, when we see articles in the international press every day, saying that Greece will default, nobody will come to this country and invest," he added.
"The more important issue is how to create growth in the longer term".
As conventional wisdom suggests, it is very difficult to foster growth in times of austerity. So how is Greece planning to do it? According to Chrisochoides, growth is already under way:
"This year, in the first four months of 2011, we saw a 30 percent increase in exports and they represent a big percentage of our GDP," he said.
In addition to supporting more exports, he pointed to private investments as a second pillar of growth.
"We have to create a new environment, where bureaucracy and corruption disappear, and there will be new procedures for licensing. I think very soon, Greece will be a very good country for investments with a very positive environment," Chrisochoides said.
(CNBC.com)
Published: Wednesday, 29 Jun 2011 | 2:07 AM ET
By: Carolin Schober
CNBC Correspondent, Zurich
In an interview with CNBC, Greece's minister for growth, competitiveness and shipping, Michalis Chrisochoides, was utterly confident that his PASOK party will be able to push through the unpopular medium-term austerity package.
The fiscal program is scheduled to go through parliament in two separate votes on Wednesday and Thursday, and Chrisochoides said that he was convinced that "PASOK MPs will do their duty"as everyone in the country understands that the vote is "very critical."
While he dismissed talk of a potential default, Chrisochoides said the inertia by EU officials isn't helping to restore confidence.
"I think it's a slow death when every day we have announcements, statements from several European leaders without making decisions," he said.
"So the Europeans have to make decisions about the debt, while the Greek have to find a logical solution on how to save the Greek people, serve the very big debt and on the other hand we have to prepare a package for the development," he added.
Michalis Chrisochoides is one of the few ministers who managed to cling to his old post in the Socialist Party's cabinet reshuffle two weeks ago.
His job as a Greek minister for growth, competitiveness and shipping won't get any easier though, as economists agree that once the country's debt and deficit are solved, lack of competitiveness will still remain Greece's fundamental problem.
Asked about why Greece hasn't been able to attract foreign direct investments, the minister admitted that Greece's economy was lacking exports, dynamisms and innovation.
"I believe now, when we see articles in the international press every day, saying that Greece will default, nobody will come to this country and invest," he added.
"The more important issue is how to create growth in the longer term".
As conventional wisdom suggests, it is very difficult to foster growth in times of austerity. So how is Greece planning to do it? According to Chrisochoides, growth is already under way:
"This year, in the first four months of 2011, we saw a 30 percent increase in exports and they represent a big percentage of our GDP," he said.
In addition to supporting more exports, he pointed to private investments as a second pillar of growth.
"We have to create a new environment, where bureaucracy and corruption disappear, and there will be new procedures for licensing. I think very soon, Greece will be a very good country for investments with a very positive environment," Chrisochoides said.
(CNBC.com)
tommy271
Forumer storico
Voglio provare ad essere ottimista anche oggi: 157 voti.
- Stato
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