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

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I TITOLI DEI GIORNALI:

Government vice president and Finance Minister Evangelos Venizelos' talks with German Finance Minister Wolfgang Schauble in Berlin, the decrease in pensions and the supernumerary staff in the public sector, mostly dominated the headlines on Thursday in Athens' newspapers.

ADESMEFTOS TYPOS: "192,000 insured without pension - List grows of IKA (state Social Security Foundation) insured retirees awaiting formalisation of their pensions, some of them up to a year and a half".
AVGHI: "Prime Minister George Papandreou fears Universities and Plazas (Indignants) movement".
AVRIANI: "Turkish tycoon to buy Greek islets".
ELEFTHEROS TYPOS: "Government admits layoffs in public sector - Lies about the cuts in pensions".
ELEFTHEROTYPIA: "Tax bureaus are not collecting revenues".
ESTIA: "National crime with the economy".
ETHNOS: " 'Not collecting' movement in Tax Bureaus".
IMERISSIA: "Dirty games - Debt war raging".
KATHIMERINI: "Rekindling of fears of spread of debt crisis".
NAFTEMPORIKI: "Plan for Eurobond issue again on the table".
RIZOSPASTIS: "Popular vigilance and struggle against the intensifying state suppression".
TA NEA: "Dinner in Berlin with privatisations as the first course".
VRADYNI: "The cuts in salaries also reducing the pensions".


(ana.gr)
 
Awaiting Trichet΄s "Signal" On Greek Debt Rollover



European bankers are meeting again today in Rome without any final proposals for the participation of banks in the rollover of Greek debt.

The picture that emerges from Wednesday’s meeting in Paris looks misty despite proposals for a smaller interest rate and extension of rollover period at 30 years, while other counter proposed to reduce the period to ten or fifteen years.

Yesterday, Capital.gr said that the French proposal could be already “buried” before the meeting of IIF and bankers were already seeking alternative solutions.


The climate was deteriorated by the four-notch downgrade of Portugal’s credit ratings by Moody’s, which reversed the conditions of the debate for Greece, as is raises the issue of a second bailout package to the Iberian country.

A day later and while the negotiations continue, the climate of uncertainty is refuelled by rumours that it is a matter of time before similar downgrades of Ireland’s debt.


At the same time, there is great interest in the statements of European Central Bank and Jean-Claude Trichet today, as the ECB is opposed against any type of regulation that could be considered a selective default or a credit event.

However, both the European Commission and the European Council expect the ECB to reveal its intentions today in order to create a new framework for decisions on Monday at the Eurogroup meeting.

(capital.gr)
 
Greek FinMin Met ECB Trichet



Greek Finance Minister and Deputy Prime Minister Evangelos Venizelos had a meeting with the President of the European Central Bank Jean-Claude Trichet.

According to sources, they mainly discussed on the upcoming meeting of Eurogroup and the progress of the privatization program at the meeting that lasted 40 minutes.

ECB’s head showed great interest in the progress of privatizations and the foundation of the relevant fund with the appointment of directors.


Greek FinMin revealed several names of candidates but stated that he has not yet come to a final decision on the staffing of the fund.


They also discussed the situation of the Greek banks, ECB’s contribution to them and the results of stress tests, which are expected soon
.

(capital.gr)
 
Questa mattina, gli spread sui nostri ellenici, sembrano abbiano trovato una zona di resistenza poco sotto i 1410 pb.

La Borsa di Atene segna sempre rosso: ASE a 1250 punti - 1,23%
 
PUNTO 1 -Grecia,oggi incontro Iif/banche Roma su diverse opzioni



(aggiunge dettagli su partecipanti, background)



MILANO, 7 luglio (Reuters) - E' in corso stamane a Roma una nuova riunione a porte chiuse tra banche internazionali e l'Institute of international finance (Iif) , per discutere le soluzioni possibili per un coinvolgimento dei creditori privati al sostegno della Grecia.
Lo riferiscono alcune fonti, precisando che l'incontro è presieduto dal direttore generale del Tesoro Vittorio Grilli, in qualità di presidente del Comitato economico e finanziario europeo.
Tra i partecipanti anche funzionari della Commissione Ue, della Banca centrale europea e tecnici del governo greco, mentre non sono presenti rappresentanti delle agenzie di rating.
"Ci sarà uno scambio di vedute sull'attività svolta finora e sulle soluzioni al momento sul tavolo per il coinvolgimento dei creditori privati sulla Grecia", aveva riferito stamattina una fonte del Tesoro a Reuters. "Si parlerà di diverse ipotesi, non di una sola soluzione".
Da Bruxelles una fonte Ue conferma l'incontro e la partecipazione di funzionari delle istituzioni europee.
"Al tavolo sono sedute sia banche estere che assicurazioni e alcuni istituti di credito italiani", dice la fonte.
Ieri le banche internazionali e l'Iif si erano incontrati a Parigi per un confronto su diverse ipotesi tecniche per contribuire alla soluzione della crisi del debito di Atene. L'Amministratore Delegato dell'Iif Charles Dallara aveva detto ieri a Reuters che nella riunione di Parigi era stata discussa anche l'ipotesi di operazioni di buy-back del debito greco, in aggiunta a misure più orientate al breve termine come il rollover del debito ellenico detenuto da banche e assicurazioni.
Il modello di rollover del debito proposto dalle banche francesi nei giorni scorsi, che sembrava potesse essere utilizzato come base per tutti gli istituti di credito europei, è stato messo in discussione dalle agenzie di rating. Secondo S&P il rollover 'alla francese' farebbe scattare il "default selettivo" sul rating sovrano di Atene.
A causa della minaccia delle agenzie, la Germania ha proposto ieri di tornare a discutere della possibilità di uno swap sui titoli di Atene, scenario che non piace, però, alla Banca centrale europea.
 
Greece To Name Directors Of New Privatization Agency Monday Official




ATHENS -(Dow Jones)- Greece's government is expected to name the board of directors of its newly-created privatization agency next week, a government official said Thursday, with the announcement intended to coincide with a planned meeting of euro-zone finance ministers on Monday.
The official declined to comment on the names of the appointees. But their selection comes after two back-to-back meetings this week between Greek Finance Minister Evangelos Venizelos and his German counterpart, Wolfgang Schauble, on Wednesday, and European Central Bank president Jean-Claude Trichet on Thursday.
"On Monday, Greece will announce the appointees to the board of directors for the new privatization agency," the official said. "The issue of privatization was at the center of discussion in both meetings."
In May last year, Greece narrowly avoided default with the help of a EUR110 billion loan from its European partners and the International Monetary Fund, but is now seeking roughly another EUR100 billion package to cover its financing needs over the next three years.
The European Union and the IMF, have said Greece must kick-start its long- delayed privatization drive before they will extend any fresh aid to the country.
The newly-created agency will be tasked with the job of privatizing some EUR50 billion in state-owned assets by 2015. Venizelos has said that the government aims to raise at least EUR1.7 billion from privatizations by the end of the third quarter this year, and EUR5 billion by the end of 2011.
Under the terms of a medium-term budget program enacted by the Greek parliament last week, the agency will have a five member board of directors who will be appointed to three-year terms.
In a concession to Greece's European partners, the board will include two outside observers--without voting rights--who will be recommended by other euro- zone member countries and the European Commission.
The names of the board and the outside observers were discussed during Venizelos' meetings this week in Berlin and Frankfurt, the official said.
 
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