Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 2

[Nobody's]

Bankitalia, Berlusconi riunito a Chigi con Tremonti e vertici Lega

Reuters - 20/10/2011 16:10:08

ROMA, 20 ottobre (Reuters) -

Il presidente del Consiglio, Silvio Berlusconi, è riunito a Palazzo Chigi con i ministri dell'Economia, Giulio Tremonti, e i ministri leghisti, Umberto Bossi e Roberto Calderoli, per sciogliere il nodo Bankitalia.

"Io continuo a tifare per [Vittorio] Grilli", ha detto il Senatur entrando nel palazzo di governo.

Secondo le sue stesse parole, il premier dovrebbe spedire oggi al Consiglio superiore di Bankitalia la lettera con il nome del candidato prescelto a sostituire Mario Draghi alla guida della Banca centrale.

 

[Nobody's]

UPDATE 2-EU may demand rating blackout for crisis states

Reuters - 20/10/2011 16:21:14

* EU's Barnier says may censor ratings for stricken countries
* We could ban or suspend ratings -Barnier
* Officials caution blackout would be impossible to impose
(Adds detail, comments from Barnier, expert, official)
By John O'Donnell
BRUSSELS, Oct 20 (Reuters) -

The European Union's executive may ask for powers to censor credit ratings for countries in crisis, its financial reform chief said on Thursday, describing a ban as one way of stopping fallout from "ill-thought-out" ratings.

The proposal, which officials cautioned may be impossible to police, would be the most stringent curb yet on rating agencies and highlights frustration in France, which was this week warned by Moody's that its top rating was under threat, and Germany.

"These rating agencies should probably be considered one of the causes of this crisis," said Michel Barnier, the former French foreign minister who is now the EU commissioner in charge of regulating finance.

"We are thinking about the timeliness of rating countries that are covered by international programmes. Is it appropriate? If we don't consider it to be appropriate, we could ban it or suspend ratings for the necessary timeframe."

The EU Commission plan, outlined in a draft EU law, is part of a shake-up of EU rules governing the rating agencies, which have downgraded several euro zone states in recent months -- decisions that some EU leaders say have worsened the crisis.

Barnier's suggestion comes at a crucial juncture in the euro zone debt crisis, ahead of meetings of EU and euro zone leaders expected to agree on plans to end the market turmoil.

Any downgrade of France could have profound implications for the euro zone's rescue scheme, the European Financial Stability Facility, which relies on the triple-A rating of just six euro zone countries, including France, to borrow cheaply.

"On rating sovereign debt, these knock-on effects on financial stability... can be negative," Barnier said.

"They can be made worse by ill-thought-out ratings, without knowing where the ratings have come from, without having the necessary dialogue with the country being rated."

Experts, however, were sceptical about his plan to ban publication of rating.

"A rating is an opinion," said Nicolas Veron, co-founder of Brussels think tank Bruegel. "I think politicians overestimate the impact of rating decisions and underestimate the impact of their own statements, which often move the markets more."

"There is a freedom of expression issue here. I fail to see how banning opinions will do anything to help financial stability."

Under the Commission proposal, which forms the basis for EU law, ESMA, the European markets authority, would get powers of enforcement to silence the rating agencies if their views could upset markets.

But it is unlikely the European authorities could enforce any ban on the two most important agencies, Standard & Poor's (MHP.N) and Moody's (MCO.N), which are based in the United States.

"This is an extraterritorial issue," said one official. "We can't force the U.S. to implement such legislation, but nothing can prevent us to propose such legislation for Europe."

Barnier's proposal would need approval from EU member governments, including Britain, and from the European Parliament to take effect.

The rules, if they were to be adopted, would affect countries such as Ireland and could complicate their route back to normal borrowing on the markets.

 

[tommy271]

Ad Atene la Borsa chiude a 742 punti + 0,25%. Sempre scarsi i volumi a 37 MLN.

Spread sui max di ieri a 2276 pb. Ma sostanzialmente in oscillazione stabile.

 

[Nobody's]

Troika says no areas of concern on Irish programme

Reuters - 20/10/2011 15:50:49

DUBLIN, Oct 20 (Reuters) -

Ireland's Troika of creditors has no concerns about the country's implementation of its 85 billion euros bailout programme, officials said on Thursday.

Officials from the European Commission, the European Central Bank and the International Monetary Fund said Ireland had passed its latest quarterly review, but downside risks remained.

"I want to say categorically, in discussions with the authorities there are no areas of concern," said Ajai Chopra, the IMF's mission chief to Ireland. "There is a very serious meeting of minds on the objectives and the way to reach the objectives."

"But I don't want to leave you with the impression that there aren't downside risks," he said, citing a lack of domestic demand and weakness in the global economy.

 

[Nobody's]

Milano...bagno di sangue

 

[Nobody's]

GRECIA, NESSUNA DIVERGENZA TRA FMI, COMMISSIONE E BCE SU SOSTENIBILITA' DEBITO - PORTAVOCE FMI

Reuters - 20/10/2011 16:31:59

da non credere......siamo all' assurdo

 

[Nobody's]

GRECIA, PROSSIMA TRANCHE PRESTITO PROBABILE A INIZIO NOVEMBRE - PORTAVOCE FMI

Reuters - 20/10/2011 16:31:59

 

[tommy271]

Milano...bagno di sangue

Anche Parigi e Francoforte aumentano le perdite ...

 

[Nobody's]

GERMAN RULING COALITION SOURCES SAY EU SUMMIT TO GO AHEAD ON SUNDAY

Reuters - 20/10/2011 16:35:33

 

[Nobody's]

GERMAN RULING COALITION SOURCES SAY EU SUMMIT WILL NOT REACH A DECISION ON EFSF LEVERAGING

Reuters - 20/10/2011 16:35:33