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

[tommy271]

Exports to China keep increasing while imports fall

The rebound of Greek exports to China continued in the first five months of 2011, contrary to the amount of Chinese exports to Greece, according to a document by the Financial and Trade Affairs agency of the Greek Embassy in Beijing.
The flow of trade between the two countries remains on a completely different level in absolute prices, as the Greek trade deficit with China closed at 2.7 billion euros in end-2010, while it has already reached 974 million euros in the year to May.
The first five months of 2011 saw a considerable increase from the same period last year in all food categories, with dairy products exported to China increasing by 55.5 percent, olive oil by 87.3 percent, other food products by over 170 percent and drinks by a spectacular 417 percent, although with the exception of olive oil, no category has achieved a turnover of more than 1 million euros as of yet.
There is also a steady rising course for the categories of marble, mining products and plastic, exceeding 50 percent.
On the other hand, the embassy’s report showed a steep decline in the export of unprocessed leather (73.3 percent) and fur skins (32.6 percent).






ekathimerini.com , Friday August 5, 2011 (22:09)

 

[tommy271]

Deficit target ever more distant



State owes more than 6.5 billion euros, strangling the market further with debts to suppliers and others

By Prokopis Hatzinikolaou
The state owes some 2.8 percent of the gross domestic product to suppliers and third parties, aggravating cash flow problems in the market and increasing concerns of its international creditors over a nominal containment in spending.
At the same time, the general government deficit has soared to 14.69 billion euros, according to figures released on Thursday by the Finance Ministry.
The data show that the state’s obligations increased in June to 6.63 billion euros, from 5.2 billion in January, as the government seems to have stopped issuing payments to third parties, posing additional obstacles to the market’s operation.
The debts of ministries have reached 980 million euros, of which 423.2 million concerns obligations that should have been covered by the Public Investment Program.
Public hospitals owe 1.84 billion euros, social security funds’ debts amount to 2.66 billion euros, local authorities have arrears of 892 million euros and other legal entities owe 245.5 million euros, the Finance Ministry data showed.
The general government deficit climbed by more than 2 billion euros within one month as it reached 14.69 billion in end-June from 12.55 billion euros by May. The government’s target for the entire year had been set for 17 billion euros, and it now appears highly unlikely to be met.
The central government’s deficit stands at a disappointing 16.40 billion euros, as revenues for the first six months of the year came to 22.54 billion euros, while expenditure amounted to 38.94 billion. A year ago the deficit stood at 13.76 billion euros.
The primary deficit came to 9.390 billion euros in June, up from 7.915 billion in May
The Finance Ministry suggested that only 794 out of the 853 general government bodies have forwarded their June data to the ministry, while the others (eight social security funds, three public corporations and one local authority, as well an another 47 legal entities) are running the risk of having their funding cut from the state budget.


ekathimerini.com , Thursday August 4, 2011 (22:29)

***
Una nuova manovra di correzione si renderà necessaria a settembre.

 

[Gaudente]

Una nuova manovra di correzione si renderà necessaria a settembre.

Necessaria per cosa ? Per dare il colpo di grazia ad un'economia agonizzante ?

 

[tommy271]

Necessaria per cosa ? Per dare il colpo di grazia ad un'economia agonizzante ?

Per rientrare nei parametri.
Certo, si corre un rischio ... ma non c'è altra scelta.
A luglio abbiamo visto un primo miglioramento anno su anno per quanto riguarda le entrate.
Speriamo in un buon agosto.

 

[russiabond]

Deficit target ever more distant



State owes more than 6.5 billion euros, strangling the market further with debts to suppliers and others

By Prokopis Hatzinikolaou
The state owes some 2.8 percent of the gross domestic product to suppliers and third parties, aggravating cash flow problems in the market and increasing concerns of its international creditors over a nominal containment in spending.
At the same time, the general government deficit has soared to 14.69 billion euros, according to figures released on Thursday by the Finance Ministry.
The data show that the state’s obligations increased in June to 6.63 billion euros, from 5.2 billion in January, as the government seems to have stopped issuing payments to third parties, posing additional obstacles to the market’s operation.
The debts of ministries have reached 980 million euros, of which 423.2 million concerns obligations that should have been covered by the Public Investment Program.
Public hospitals owe 1.84 billion euros, social security funds’ debts amount to 2.66 billion euros, local authorities have arrears of 892 million euros and other legal entities owe 245.5 million euros, the Finance Ministry data showed.
The general government deficit climbed by more than 2 billion euros within one month as it reached 14.69 billion in end-June from 12.55 billion euros by May. The government’s target for the entire year had been set for 17 billion euros, and it now appears highly unlikely to be met.
The central government’s deficit stands at a disappointing 16.40 billion euros, as revenues for the first six months of the year came to 22.54 billion euros, while expenditure amounted to 38.94 billion. A year ago the deficit stood at 13.76 billion euros.
The primary deficit came to 9.390 billion euros in June, up from 7.915 billion in May
The Finance Ministry suggested that only 794 out of the 853 general government bodies have forwarded their June data to the ministry, while the others (eight social security funds, three public corporations and one local authority, as well an another 47 legal entities) are running the risk of having their funding cut from the state budget.


ekathimerini.com , Thursday August 4, 2011 (22:29)

***
Una nuova manovra di correzione si renderà necessaria a settembre.

Bravi ragazzi...forza ...a lavorare ...che ci sono le scadenze di primavera 12 da pagare ....più lavoro ...meno soldi ...cosi avete meno pensieri per spenderli ...a quello ci penso io

 

[russiabond]

Russia risparmia il cash che tra pò potrai entrate alla grande sui nostri tds...

Calma ......uno alla volta ....prima la Grecia ...dopo il 05.12 se ne puo parlare

 

[russiabond]

Rehn insists euro deal will make Greek debt sustainable



EU economic affairs chief also urges quick strengthening of EFSF

The European Unions Economic and Monetary Affairs Commissioner Olli Rehn said on Friday that heightened concerns about the viability of Greece’s debt are “not warranted” as he set out plans to step up efforts to strengthen the EFSF bailout fund amid fears about the economic crisis gripping Italy and Spain.
“Investors seem unconvinced that Greece's debt will be put on a sustainable track,” said Rehn in a statement that backed the steps agreed by eurozone leaders’ in Brussels last month. “I think this is not the right conclusion. The 21st July agreement did deliver major improvements in the terms and conditions for financing Greek public debt. There will be a significant extension in the average maturity of all loans and a lowering of interest rates on official loans.
“A reduction of interest rates to about 4% should reduce cumulative interest payments by some 25 billion euros between 2011 and 2020. This implies a reduction in the debt ratio in 2020 - without private sector involvement - of around 10% of GDP.”
Rehn said the private sector involvement (PSI), which will see banks swap or rollover the Greek debt they hold, would also help Greece.
“PSI considerably stretches the average maturity of Greek government debt even further and reduces substantially the amounts that Greece will have to raise in the markets by the end of the programme in 2014. PSI and the accompanying debt buy-back entail a further estimated net debt reduction by some 26 billion or 12% of GDP by 2020.”
Economists have pointed out that any reduction in debt is offset by the fact that Greece will have to invest money to prop up its banks and to buy top-rated bonds to act as collateral in its swap with private investors. Rehn insisted, however, that Athens would be better off.
“It is correct that PSI entails certain costs, but these costs impact more on gross debt than on net debt. The costs relating to PSI include the recapitalisation of Greek banks (20 billion euros) and credit enhancements (35 billion euros), in the form of AAA rated bonds paid on an escrow account, for the new government bonds that are exchanged for existing bonds maturing during the period 2011-20. This escrow account is an asset for the Greek government and has a positive impact on net debt.”
Rehn insisted that Greece is taking the steps expected of it following the July 21 agreement.
“The Greek authorities are doing what is necessary to implement their various commitments. They are developing the proposals for the PSI along the lines of the IIF proposal. Preparatory work is continuing for the new support programme for Greece, in liaison with the ECB and together with the IMF.
“The Commission's Task Force set up at the end of July is starting to coordinate technical assistance to Greece. Importantly, it will help ensure measures are taken to accelerate take-up of EU funds which make a visible impact on competitiveness, growth and employment.”
Rehn also stressed the need for eurozone governments to speed up the approval of the bolstering of the European Financial Stability Facility amid concern that it would not be able to cope with having to bail out Italy and Spain as well as Greece, Portugal and Ireland.
Asked whether the fund needed to be substantially bigger than currently to calm market turmoil, Rehn said he did not want to get into talking about numbers, but added:
"To be effective the EFSF needs to be credible and respected by the markets. And therefore we need to be continuously assessing it, once up and running, in its objective form with these goals in mind.»
Rehn also said that the main message from Commission President Jose Manuel Barroso in a letter to EU leaders on Thursday was for them to move swiftly to implement a deal over Greece.
"It is now essential to speed up the implementation and the approvals in the member states in order to make this agreement of the 21st July materialize. That was the key message. I think that's obvious that that is what needs to be done.»
He said EU officials would also look at longer-term options for the infrastructure of the euro zone, including the idea of euro zone bonds, and would present a report after the summer.






ekathimerini.com , Friday August 5, 2011 (14:33)

Sono d'accordo al 100%....è sostenibilissimo il debito greco...sopratutto fiino a Maggio 2012 ....sarò una palla ...ma sono d'accordo ...bravi continuate così....dopo si vedrà

 

[tommy271]

Sono d'accordo al 100%....è sostenibilissimo il debito greco...sopratutto fiino a Maggio 2012 ....sarò una palla ...ma sono d'accordo ...bravi continuate così....dopo si vedrà

Russiabond, stai tranquillo... se gli accordi di luglio e lo swap saranno formalizzati con pieno successo, la Grecia sarà in una botte di ferro sino al 2020, altro che 2012 ... .

 

[russiabond]

Russiabond, stai tranquillo... se gli accordi di luglio e lo swap saranno formalizzati con pieno successo, la Grecia sarà in una botte di ferro sino al 2020, altro che 2012 ... .

Probabilmente ...dico probabilmente ...vedrò a maggio 12 ...come gira la Grecia ...se vedo ancora un po di strada ...e se non ci sarà altra frutta matura da raccogliere ...potrei allungarmi di qualche altro mese ...forse 1 anno ...max ...ma qua si vive alla giornata ...quello che è valido adesso potrebbe cambiare il mese prossimo ...se poi va al collasso qualcos'altro si puo switchare ....meglio se c'è la rete di protezione ....per esempio una tradata tosta.... era andare long sul USD Yen con il rimbalzo dopo l'intervento della BOJ c'era da fare un gain veloce veloce...certo...se sei da una parte non puoi essere dall'altra ...questo è il problema dell'ALL INN ....

 

[Gaudente]

Bravi ragazzi...forza ...a lavorare ...che ci sono le scadenze di primavera 12 da pagare ....più lavoro ...meno soldi ...cosi avete meno pensieri per spenderli ...a quello ci penso io

Russia, il problema e' che finche' non escono dall'euro e svalutano non possono lavorare perche' non sono in grado di produrre a costi competitivi ...la disoccupazione e' al 17% e in costante crescita.
Ogni volta che il governo gli aumenta le tasse i costi di produzione aumentano e altre imprese chiudono o si rifugiano nel sommerso.