AAAA47
Forumer storico
ma quale manovra?
Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 1 (3 lettori)
- Creatore Discussione Imark
- Data di Inizio
- Stato
ma quale manovra?
tommy271
Forumer storico
Papandreou Criticizes Proposal for Creditor Role in Bailout
Q
By Mark Deen and James Hertling - Jul 12, 2011 12:18 AM GMT+0200
Greek Prime Minister George Papandreou criticized proposals being considered to share the cost of a bailout with creditors, adding pressure on European finance ministers to find alternative plans.
The proposal “seems to be flawed,” Papandreou said in a letter to Luxembourg Prime Minister Jean-Claude Juncker, who chairs meetings of euro-area finance ministers. “It could prove to be too expensive, too little and too dangerous. Too expensive for Greece and too little or inadequate to effectively deal with the management of Greek debt. And with these meager results one may still not avoid a selective default.”
The criticism, aimed at a French proposal under which investors would reinvest 70 percent of their holdings in 30-year Greek bonds, suggests that Greece’s debt-load would be unsustainable under such a plan. Standard & Poor’s said last week that the plan would amount to a “selective default.”
Euro area finance ministers met in Brussels late yesterday to consider the plan and an alternative bond-swap proposal revived last week by Germany. Ministers from all 27 EU countries will have further discussions in Brussels today.
“I am now convinced, after 14 months, that no matter what Greece does -- and we have proven ready to live up to our responsibilities -- if Europe does not make the right, collective forceful decisions now, we risk new and possibly global market calamities due to a contagion of doubt,” Papandreou said. “Strong and visionary European leadership is needed.”
Bonds of debt-strapped countries plunged, the euro sank and stocks dropped amid concern that European governments are powerless to prevent the financial distress spreading from Greece.
(Bloomberg)
***
Estratti della lettera di Papandreou a Juncker inviata prima dell'inizio dell'Eurogruppo.
Q
By Mark Deen and James Hertling - Jul 12, 2011 12:18 AM GMT+0200
Greek Prime Minister George Papandreou criticized proposals being considered to share the cost of a bailout with creditors, adding pressure on European finance ministers to find alternative plans.
The proposal “seems to be flawed,” Papandreou said in a letter to Luxembourg Prime Minister Jean-Claude Juncker, who chairs meetings of euro-area finance ministers. “It could prove to be too expensive, too little and too dangerous. Too expensive for Greece and too little or inadequate to effectively deal with the management of Greek debt. And with these meager results one may still not avoid a selective default.”
The criticism, aimed at a French proposal under which investors would reinvest 70 percent of their holdings in 30-year Greek bonds, suggests that Greece’s debt-load would be unsustainable under such a plan. Standard & Poor’s said last week that the plan would amount to a “selective default.”
Euro area finance ministers met in Brussels late yesterday to consider the plan and an alternative bond-swap proposal revived last week by Germany. Ministers from all 27 EU countries will have further discussions in Brussels today.
“I am now convinced, after 14 months, that no matter what Greece does -- and we have proven ready to live up to our responsibilities -- if Europe does not make the right, collective forceful decisions now, we risk new and possibly global market calamities due to a contagion of doubt,” Papandreou said. “Strong and visionary European leadership is needed.”
Bonds of debt-strapped countries plunged, the euro sank and stocks dropped amid concern that European governments are powerless to prevent the financial distress spreading from Greece.
(Bloomberg)
***
Estratti della lettera di Papandreou a Juncker inviata prima dell'inizio dell'Eurogruppo.
ferdo
Utente Senior
Grecia è la riunione di oggi ... non Italia
non c'è problema Italia
ma se non sono riusciti ad articolare un piano per uno staterello col 2% del pil europeo, secondo te in 2 gg affrontano il problema Italia (ammesso che lo sia)?
E con cosa?
Lo ha detto la Merkel oggi: "approvate la Vs. finanziaria!"
Ultima modifica:
pappacefalo
Forumer attivo
dici ferdo??? 
ferdo
Utente Senior
* Ministers pledge more flexibility for rescue funds
* EU to agree "shortly" on cheaper loans, longer terms
* Ministers no longer explicitly rule out selective default
* Threat to Italy, Spain increases sense of urgency
By Julien Toyer and Daniel Flynn BRUSSELS, July 11 (Reuters)
Euro zone finance ministers promised cheaper loans, longer maturities and a more flexible rescue fund on Monday to help Greece and other EU debtors in a bid to stop financial contagion engulfing Italy and Spain. They also declined to rule out the possibility of a selective default by Greece to make its debt mountain more sustainable, despite the European Central Bank's fierce opposition, one participant said. After talks following another day of turmoil on financial markets, ministers from the 17 countries that share the European currency vowed to safeguard stability in the euro area and promised new measures "shortly", but set no deadline. "Ministers stand ready to adopt further measures that will improve the euro area's systemic capacity to resist contagion risk, including enhancing the flexibility and the scope of the EFSF, lengthening the maturities of the loans and lowering the interest rates, including through a collateral arrangement where appropriate," they said in a statement.
[ID:nB5E7I400W] Italian and Spanish stocks and bonds suffered another big selloff on Monday and the euro <EUR=> fell as investors rattled about an apparent deadlock in the EU on how to involve private bondholders in a second rescue package for Greece. The Italian slide was triggered last week by concerns that Prime Minister Silvio Berlusconi was trying to undermine and perhaps remove Finance Minister Giulio Tremonti, seen as the guarantor of fiscal prudence in Rome. Italy, the third largest economy in the euro zone, has the second biggest per capita debt after Greece but has avoided the fate of Greece, Ireland and Portugal, forced to seek EU/IMF bailouts, because it has a low budget deficit and a liquid bond market largely in domestic hands. The ministers gave no indication that they had broken a stalemate over how to make banks, insurers and other funds share the cost of additional funding for Athens. But one national official said they were moving closer to sharing the cost of easing Greece's debt burden with investors even if credit ratings agencies were to declare a selective default. "I would read this as an acknowledgement by the member states that a selective default is going to be difficult to avoid. It removes an obstacle to the participation of the private sector," the official said, speaking on condition of anonymity. Ministers tasked a working group to propose ways to finance a new multi-year programme for Greece, reduce the cost of servicing its 340 billion euro debt -- nearly 160 percent of annual output -- and improving its sustainability. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
* EU to agree "shortly" on cheaper loans, longer terms
* Ministers no longer explicitly rule out selective default
* Threat to Italy, Spain increases sense of urgency
By Julien Toyer and Daniel Flynn BRUSSELS, July 11 (Reuters)
Euro zone finance ministers promised cheaper loans, longer maturities and a more flexible rescue fund on Monday to help Greece and other EU debtors in a bid to stop financial contagion engulfing Italy and Spain. They also declined to rule out the possibility of a selective default by Greece to make its debt mountain more sustainable, despite the European Central Bank's fierce opposition, one participant said. After talks following another day of turmoil on financial markets, ministers from the 17 countries that share the European currency vowed to safeguard stability in the euro area and promised new measures "shortly", but set no deadline. "Ministers stand ready to adopt further measures that will improve the euro area's systemic capacity to resist contagion risk, including enhancing the flexibility and the scope of the EFSF, lengthening the maturities of the loans and lowering the interest rates, including through a collateral arrangement where appropriate," they said in a statement.
[ID:nB5E7I400W] Italian and Spanish stocks and bonds suffered another big selloff on Monday and the euro <EUR=> fell as investors rattled about an apparent deadlock in the EU on how to involve private bondholders in a second rescue package for Greece. The Italian slide was triggered last week by concerns that Prime Minister Silvio Berlusconi was trying to undermine and perhaps remove Finance Minister Giulio Tremonti, seen as the guarantor of fiscal prudence in Rome. Italy, the third largest economy in the euro zone, has the second biggest per capita debt after Greece but has avoided the fate of Greece, Ireland and Portugal, forced to seek EU/IMF bailouts, because it has a low budget deficit and a liquid bond market largely in domestic hands. The ministers gave no indication that they had broken a stalemate over how to make banks, insurers and other funds share the cost of additional funding for Athens. But one national official said they were moving closer to sharing the cost of easing Greece's debt burden with investors even if credit ratings agencies were to declare a selective default. "I would read this as an acknowledgement by the member states that a selective default is going to be difficult to avoid. It removes an obstacle to the participation of the private sector," the official said, speaking on condition of anonymity. Ministers tasked a working group to propose ways to finance a new multi-year programme for Greece, reduce the cost of servicing its 340 billion euro debt -- nearly 160 percent of annual output -- and improving its sustainability. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Ultima modifica:
pappacefalo
Forumer attivo
Ferdo, perché dici che l'Italia non è un problema?
pappacefalo
Forumer attivo
la manovra che l'italia sta per approvare
Ciao a tutti e complimenti a Tommy e la sua ciurma per l'ottimo lavoro.
Finche' si minaccia di coinvolgere i privati,i privati venderanno o compreranno?
ma i crucchi non lo capiscono,anzi sembra essere diventato l'unico assioma in questo casino.Pensavo di vedere questo panico nel luglio 2013,ma si sa,i mercati anticipano.....
Finche' si minaccia di coinvolgere i privati,i privati venderanno o compreranno?
ma i crucchi non lo capiscono,anzi sembra essere diventato l'unico assioma in questo casino.Pensavo di vedere questo panico nel luglio 2013,ma si sa,i mercati anticipano.....
pappacefalo
Forumer attivo
perché nel luglio 2013?
mago gambamerlo
Xx Phuket xX
E' da un pezzo che avevano lanciato i "segnali deboli" ! Ora siamo ai "segnali forti" . Ma i ns serafici buontemponi Europei continuano il teatrino tanto a loro finche non gli brucia la casa stanno a cazzaggiare. Dovevano aver' messo subito a tacere la Grecia con intervento in stile Yankee e a fkulo la grande speculazione .... invece sono stati prevedibili come un libro scritto.
complimenti
complimenti bravò
è da 1 anno e 8 mesi che non sono capaci di dire altro.
siamo in scacco, se viene sbagliata la prossima mossa tanti saluti a tutti
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