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

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“Enormous Money” Available, But Not Used



A labyrinthine, bureaucratic and opaque system blocks the EU Funds and drives away foreign investors.

Horst Reichenbach, head of the EU Task Force, spoke of available “enormous money” at a press conference, pointing out the problem is the proper and efficient use.

Actually, he was referring to the National Strategic Reference Framework, which could channel €7.7 billion, according to a spokesman of European Commission. The amount is available for Greece but not used. It could be multiplied with private funds if there was banking liquidity, or foreign investors.

But, in the country of recession and memorandum of understanding, there are no foreign investors. The large projects are stationary and EU funds need a long time to be granted.

The new team of Rehn and Barroso, consisting of 230 members, aims to unblock projects, ease money flow, provide loans, and support competitiveness and private sector development. Some government officials believe that in fear of EU “technocrats”, something good would happen in the labyrinthine and opaque state machine.

There are many cog-wheels. Grants are given by ministries, regional authorities and hundreds of intermediaries.


Task Force’s key tool would be guarantees and loans from the state, given the state-controlled banks’ inability for initiatives. The EU team announced a new scheme for guarantees from the NSRF.

Meanwhile, the Finance Ministry is announcing schemes of guarantees, while information indicate that there is a plan to convert the Consignment Fund to a new Bank.


Regarding private investment, Hellinikon project entered fast track procedure a few months ago, as three new PV projects did recently. Greece is now planning special zones of incentives and dreams that foreign investors would come for new productive investments, which would revitalize the country and not gain a share in privatization program.


(capital.gr)


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... arrivano i nostri.
 
Xinhua: Ditching Greece From Euro Zone Not An Option



BEIJING (Dow Jones)--Kicking Greece out of the euro zone would be tantamount to giving up Europe΄s fight against the debt crisis, which is "not an option," China΄s state-run Xinhua News Agency said in a commentary Friday.

Such a move "would inevitably raise serious questions about the E.U.΄s ability to deal with a messy crisis and cast a shadow over the bloc΄s long-term future," the commentary said.

Now at stake in the crisis isn΄t just the fate of peripheral E.U. countries but that of the euro zone and the region΄s common currency, it said.

"To ditch Greece at this difficult time would send a shivering message to global investors," it said.

China has repeatedly expressed support for debt-stricken euro-zone countries but has been coy about the financial support it is willing to provide them.

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Il Porto del Pireo dovrebbe diventare extracomunitario? :D.
 
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