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

[tommy271]

Greek Banks Push ASE Above 1,300 Units



Greek Stocks maintains the upward trend on Friday, unburden from concerns about the vote of medium-term program and implementation act, following three consecutive profitable sessions.

During the first meeting in July, Greek banks gain more than 4%, while ATEBank, National Bank and Alpha Bank top FTSE20.

Market analysts comment that the recent uncertainty regarding the medium-term program is now whisked away after its adoption, strengthening risk-taking. However, the conditions do not allow complacency, as the Greek government must convince lenders and EU member states of its ability to implement the new obligations.

They also note that the catalyst for the coming week will be the outcome of the extraordinary Eurogroup on Sunday. If expectations for a final solution are verified, the potential reaction to the Greek market will be particularly elevated.
Despite the market reacting calmly on significant positive developments, Pegasus Securities regards that the adoption of austerity measures and the release of the next aid tranche clearly ameliorate the country΄s perspective, assisting the market΄s midterm trend to change to positive.

On the board, the General Index rises by 1.88%, at 1,303.11 units. The turnover stands at €42.5m, while a total amount of 76 shares rise, 33 decline and 36 remain unchanged.

Banks soar, posting profits of 4.13%, at 1,018.34 units, with ATEBank recording double-digit gains.

(capital.gr)

 

[tommy271]

GRECIA: EUROGRUPPO IN VIDEOCONFERENZA DOMANI. NIENTE VERTICE


(ASCA-Afp) - Bruxelles, 1 lug - L'Eurogruppo ha deciso di tenere una videoconferenza domani per discutere il via libera alla 5* tranche di aiuti alla Grecia (12 miliardi di euro).

La videoconferenza tra i ministri delle finanze e dell'economia dei paesi dell'euro sostituira' il vertice previsto per domenica.

''In effetti c'e' questa idea di una videoconferenza per sabato'', ha detto Olivier Bally, portavoce della Commissione Ue.

 

[tommy271]

Zona euro, conference call ministri finanziari sabato -portavoce

venerdì 1 luglio 2011 11:53






BRUXELLES, 1 luglio (Reuters) - La riunione dei ministri finanziari dell'Eurogruppo, inizialmente prevista per domenica prossima a Bruxelles, si terrà invece domani sera, in forma di conference call. E' quanto ha detto il portavoce del presidente dell'Eurogruppo.
"La riunione non è stata cancellata", ha spiegato Guy Schuller, il portavoce di Jean-Claude Juncker, "ma è stata modificata in una conference call che si svolgerà sabato sera".
Schuller ha puntualizzato che non è stato deciso se ci sarà un comunicato dopo la conference call.
I ministri dovranno varare la prossima tranche degli aiuti di emergenza per la Grecia, senza i quali Atene è condannata al default.

 

[tommy271]

Greece to Receive Up to $124 Billion in New Aid

By Zoe Schneeweiss - Jul 1, 2011 12:00 PM GMT+0200 Fri Jul 01 10:00:00 GMT 2011



Greece may receive as much as 85 billion euros ($124 billion) in new financing, including a contribution from private investors, in a second bailout aimed at preventing default and ending the euro-region’s debt crisis, according to an Austrian Finance Ministry official.
The package will total 190 billion euros to 195 billion euros, including the 110 billion euros from the original rescue a year ago, Thomas Wieser, head of the ministry’s economic policy and financial markets department, said at a briefing with Finance Minister Maria Fekter in Vienna late yesterday.
The International Monetary Fund will put up 30 percent of the new funds, with euro-region countries and private investors contributing the remaining 70 percent, Wieser said.
Europe’s latest attempt to prevent Greece’s fiscal frailty from infecting the entire region -- and the world -- comes after Prime Minister George Papandreou secured passage of 78 billion euros of additional budget cuts and revenue measures needed to meet the targets of the original bailout. Greece now needs more funds as record bond yields has left it locked out of markets and unable to meet the original plan’s goal of selling 30 billion euros of debt next year.
The yield premium that investors demand to buy 10-year Greek bonds over comparable German bunds rose 2 basis points to 13,325 basis points.



Private Investors

While German and French official have signaled a target of as much as 30 billion euros from private investors, “one can’t say reliably how much the private sector will contribute,” Fekter said. Any involvement has to be voluntary and can’t be allowed to trigger a credit default, she said.
Holders of Greek bonds are being asked to contribute to the plan by agreeing to roll over debt maturing in the next three years into longer-maturity bonds.
Fekter said that she expects to hear proposals on private investor involvement in the coming days. Euro-region finance ministers have scheduled a conference call for tomorrow to discuss the issue and the release of the fifth installment of aid from last year’s bailout. Greece needs that 12 billion-euro payment to meet a 6.6 billion-euro bond maturity in August.
German banks have agreed to roll over Greek bonds maturing through 2014, which amount to about 2 billion euros, Finance Minister Wolfgang Schaeuble said yesterday in Berlin. The country’s so-called bad banks will provide 1.2 billion euros as well, he said.



Averting ‘Meltdown’

Deutsche Bank AG Chief Executive Officer Josef Ackermann, at a conference in Berlin yesterday with Chancellor Angela Merkel, predicted that financial companies would contribute to help avert a “meltdown.” German and French lenders are the biggest foreign holders of Greek debt.
Under a French proposal, bondholders would agree to roll over 70 percent of their debt maturing through mid-2014 into new 30-year Greek bonds with the principal on the new debt guaranteed through Greece investing in zero-coupon bonds of similar maturity. Under a second option, investors would roll over 90 percent of their debt into new five-year bonds with no guarantee.
The new bailout program, which should run from mid-2011 for three years, has to be “imagined as a cash-on-delivery agreement,” Wieser said, adding that the dates of paying out installments haven’t yet been set. Quarterly reviews of Greece’s progress by officials of the EU, IMF and European Central Bank that were part of the original package will continue under the new plan, Fekter said.



Aid Review

“Before every payments there will be a discussion of the finance ministers to see if the program is on track and whether the Greeks are still doing their part,” and “this is an incentive for the Greeks to make the necessary political decisions and a political and economical guarantee for the 16 donor countries --or how many that may be -- that their money is administered as safely as possible,” Wieser said.
The first payment under the new program will probably take place in September, and may be of a similar size to the 12 billion-euro July installment, he said.



(Bloomberg)

 

[tommy271]

PPC In Talks With Chinese Giant For Wind Park In Makronissos Island



The administration of Public Power Corporation is interested in a partnership with the Chinese wind turbine producer Sinovel Wind Energy Group. Sources told Capital.gr that senior Chinese executives have arrived in Athens, after the two groups signed a memorandum of understanding in April 2011, which provided the development of a 200-300MW wind park.

Several locations have been suggested for the implementation of the plan, with Makronissos Island being the favourite.

PPC has submitted an application for the creation of a 200MW park in 2009, but it is still pending as the island is considered a historic site.

Besides wind parks, Greek-Chinese cooperation provides the establishment of a wind turbine plant. The Chinese company is the largest Asian and second largest worldwide manufacturer of wind turbines.

Sinovel Wind Energy Group has a global market share of 11%, while its share in Asia and Pacific Ocean is rocketed to 20%. However, it has weak presence in Europe.

Given the embargo for any kind of business in the old places of exile such as Makronissos and Yiaros, the Culture Ministry has received proposals for the revision of historicity of such places, weekly newspaper Kefalaio revealed.

(capital.gr)

***
Corporate (verso la privatizzazione).

 

[fabriziof]

Greece to Receive Up to $124 Billion in New Aid

By Zoe Schneeweiss - Jul 1, 2011 12:00 PM GMT+0200 Fri Jul 01 10:00:00 GMT 2011



Greece may receive as much as 85 billion euros ($124 billion) in new financing, including a contribution from private investors, in a second bailout aimed at preventing default and ending the euro-region’s debt crisis, according to an Austrian Finance Ministry official.
The package will total 190 billion euros to 195 billion euros, including the 110 billion euros from the original rescue a year ago, Thomas Wieser, head of the ministry’s economic policy and financial markets department, said at a briefing with Finance Minister Maria Fekter in Vienna late yesterday.
The International Monetary Fund will put up 30 percent of the new funds, with euro-region countries and private investors contributing the remaining 70 percent, Wieser said.
Europe’s latest attempt to prevent Greece’s fiscal frailty from infecting the entire region -- and the world -- comes after Prime Minister George Papandreou secured passage of 78 billion euros of additional budget cuts and revenue measures needed to meet the targets of the original bailout. Greece now needs more funds as record bond yields has left it locked out of markets and unable to meet the original plan’s goal of selling 30 billion euros of debt next year.
The yield premium that investors demand to buy 10-year Greek bonds over comparable German bunds rose 2 basis points to 13,325 basis points.



Private Investors

While German and French official have signaled a target of as much as 30 billion euros from private investors, “one can’t say reliably how much the private sector will contribute,” Fekter said. Any involvement has to be voluntary and can’t be allowed to trigger a credit default, she said.
Holders of Greek bonds are being asked to contribute to the plan by agreeing to roll over debt maturing in the next three years into longer-maturity bonds.
Fekter said that she expects to hear proposals on private investor involvement in the coming days. Euro-region finance ministers have scheduled a conference call for tomorrow to discuss the issue and the release of the fifth installment of aid from last year’s bailout. Greece needs that 12 billion-euro payment to meet a 6.6 billion-euro bond maturity in August.
German banks have agreed to roll over Greek bonds maturing through 2014, which amount to about 2 billion euros, Finance Minister Wolfgang Schaeuble said yesterday in Berlin. The country’s so-called bad banks will provide 1.2 billion euros as well, he said.



Averting ‘Meltdown’

Deutsche Bank AG Chief Executive Officer Josef Ackermann, at a conference in Berlin yesterday with Chancellor Angela Merkel, predicted that financial companies would contribute to help avert a “meltdown.” German and French lenders are the biggest foreign holders of Greek debt.
Under a French proposal, bondholders would agree to roll over 70 percent of their debt maturing through mid-2014 into new 30-year Greek bonds with the principal on the new debt guaranteed through Greece investing in zero-coupon bonds of similar maturity. Under a second option, investors would roll over 90 percent of their debt into new five-year bonds with no guarantee.
The new bailout program, which should run from mid-2011 for three years, has to be “imagined as a cash-on-delivery agreement,” Wieser said, adding that the dates of paying out installments haven’t yet been set. Quarterly reviews of Greece’s progress by officials of the EU, IMF and European Central Bank that were part of the original package will continue under the new plan, Fekter said.



Aid Review

“Before every payments there will be a discussion of the finance ministers to see if the program is on track and whether the Greeks are still doing their part,” and “this is an incentive for the Greeks to make the necessary political decisions and a political and economical guarantee for the 16 donor countries --or how many that may be -- that their money is administered as safely as possible,” Wieser said.
The first payment under the new program will probably take place in September, and may be of a similar size to the 12 billion-euro July installment, he said.



(Bloomberg)

ogni tranche uno psicodramma?

 

[tommy271]

ogni tranche uno psicodramma?

Speriamo di no.
Ma le intenzioni, leggendo l'articolo, rimangono quelle.

 

[tommy271]

Grecia: Ubs scettica su incentivi a partecipazione privati a rollover debito

Analisi di Ubs sulla proposta della Francia per la Grecia



Secondo Ubs “virtualmente” non ci sono incentivi per la partecipazione del settore privato al rollover sul debito della Grecia secondo la proposta elaborata dalla Federazione bancaria francese. Nonostante questo però Ubs ritiene la partecipaizone possa essere relativamente alta sulla base di ” altri tipi di incentivi potrebbero entrare in gioco”.


Proposta Francia per la Grecia

La proposta della Francia prevede l’investimento del 20% dei bond in scadenza in un spv che acquistera’ zero coupon bond con rating tripla-A al fine di garantire il capitale del 70% dei fondi reinvestiti in debito Greco.Secondo Ubs tale meccanismo è “perlopiu’ ingannevole poichè o questo 20% e’ un investimento tripla-A, oppure e’ una garanzia rappresentata dal valore futuro dei nuovi bond greci a 30 anni, ma non puo’ essere entrambe le cose”.


(investireoggi.it)

 

[tommy271]

RPT-UPDATE 1-Euro zone finmins to hold conf call on Sat -spokesman






Fri Jul 1, 2011 6:56am EDT

* Eurogroup Saturday call to approve Greek aid payout
* Eurogroup July 11 meeting to decide next Greek aid package
* Euro drops briefly on concerns over next Greek package

(Adds more details, euro reaction)



BRUSSELS, July 1 (Reuters) - The Eurogroup meeting of euro zone finance ministers scheduled for Sunday in Brussels has been changed to a conference call on Saturday evening, the spokesman for the Eurogroup president said on Friday.
"The meeting has not been cancelled but changed to a conference call on Saturday evening," said Guy Schuller, the spokesman for Luxembourg Prime Minister Jean-Claude Juncker, who chairs the euro zone finance minsters' meetings.
Schuller said it was not yet decided if there would be a statement after the Saturday conference call.
The ministers are to decide at the meeting to release the next tranche of emergency aid for Greece, without which Athens will default.
They were also expected to hold preliminary talks on the second financing package for Greece for 2011-2014, which could total up to 120 billion euros ($175 billion).
The euro dropped briefly from $1.4525 to $1.4476 after the change was announced, on market concern that the move could signal talks on the second package for Greece were less advanced than expected and therefore a meeting in person was not needed.
But Schuller said this was not the case.
"It all went very smoothly so far, talks with the private sector are well advanced so that discussions on the second package can be held on July 11," he said.
The next regular meeting of euro zone finance ministers is scheduled for July 11. Officials said in June that would be the time when details of the next package would be decided.

 

[Grisù]

Grecia: Ubs scettica su incentivi a partecipazione privati a rollover debito

Analisi di Ubs sulla proposta della Francia per la Grecia



Secondo Ubs “virtualmente” non ci sono incentivi per la partecipazione del settore privato al rollover sul debito della Grecia secondo la proposta elaborata dalla Federazione bancaria francese. Nonostante questo però Ubs ritiene la partecipaizone possa essere relativamente alta sulla base di ” altri tipi di incentivi potrebbero entrare in gioco”.


Proposta Francia per la Grecia

La proposta della Francia prevede l’investimento del 20% dei bond in scadenza in un spv che acquistera’ zero coupon bond con rating tripla-A al fine di garantire il capitale del 70% dei fondi reinvestiti in debito Greco.Secondo Ubs tale meccanismo è “perlopiu’ ingannevole poichè o questo 20% e’ un investimento tripla-A, oppure e’ una garanzia rappresentata dal valore futuro dei nuovi bond greci a 30 anni, ma non puo’ essere entrambe le cose”.


(investireoggi.it)

Noto che la proposta francese si presta ad interpretazioni non solo sul forum, probabilmente solo chi ha assistito all'incontro può illustrarlo con chiarezza.