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

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Segnali positivi alternati a quelli negativi muovono i nostri GGB.
Ieri sono state approvate dal Parlamento di Atene le linee generali della nuova manovra mentre oggi si voteranno nel dettaglio i singoli provvedimenti. Molto alta l'incertezza anche se il voto è atteso favorevole, seppur di strettissima misura.
La tensione è tornata a farsi alta, Sarkozy si è incontrato ieri sera con la Merkel e Trichet. La Frau ha detto che l'Euro è un bene comune da salvaguardare, un arretramento significherebbe la fine dell'Unione Europea.
La BCE si è fatta sentire sui mercati nel pomeriggio di ieri con acquisti sui decennali italiani, inattiva da qualche giorno.
L'elenco della classifica accoglie sempre qualche nuovo arrivo, è la volta dell'Austria con il suo sistema bancario esposto ad Est.

Grecia 2302 pb. (2259)
Portogallo 1013 pb. (1004)
Irlanda 663 pb. (656)
Italia 385 pb. (386)
Spagna 332 pb. (337)
Belgio 238 pb. (248)
Francia 112 pb. (113)
Austria 98 pb. (102)
 
MPs give first nod to more austerity



Sweeping cutbacks approved in principle with final vote due today but parties more divided than ever



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Socialist party MPs on Wednesday rallied together and took the first step toward securing crucial rescue funding for Greece by voting in favor of a new raft of austerity measures in principle.
However an attempt by Prime Minister George Papandreou to find common ground with the leader of the main conservative opposition New Democracy, Antonis Samaras, failed miserably, leaving the gulf between the two men apparently bigger than ever.
After two days of vehement debate in Parliament, the controversial bill - which includes new wage and pension cuts, public sector layoffs and changes to collective bargaining rules - passed last night with all 154 PASOK MPs voting in favor. There were 141 votes against with five absent from the roll call.
However the bill will not pass into law until a second vote - on separate articles - is approved on Thursday. This vote too is expected to pass as only one PASOK MP, former Labor Minister Louka Katseli, has said she will object, by voting down the article on collective bargaining. Most PASOK deputies are expected to approve the changes, albeit reluctantly, as the stakes are so high.
European Union leaders are to meet Sunday to decide on the release of 8 billion euros to Greece, part of a 110-billion-euro bailout agreed last year, and on a broader rescue framework for the bloc. Greece has said it will run out of money next month without the aid.
The urgency of the situation compelled Papandreou to invite Samaras to a meeting on Tuesday night in another bid to foster cross-party consensus. But the talks failed to yield any common ground as did the premier’s meetings with the heads of smaller opposition parties.
Samaras spoke in unusually critical tones of Papandreou. “I have nothing to say with someone who is in a state of panic and who reviles everyone,” he said. The ND leader, clearly angered at the PM’s critical rhetoric about his party, also snubbed the premier’s request that they attend Sunday’s EU summit together. Samaras said he would go to Brussels, but alone.
Later in the day, government spokesman Ilias Mossialos accused Samaras of shirking responsibility. “He is looking for an alibi to once more avoid contributing to the national effort being made with the sacrifices of the Greek people,” Mossialos said. “New Democracy is the only opposition party in Europe that refuses to assume even its most rudimentary responsibility to help its country,” he added.
Before the vote on Wednesday, Finance Minister Evangelos Venizelos also stressed the critical nature of Greece’s decisions ahead of the summit. “From now and until Sunday were are fighting the battle of all battles,” he said.
Meanwhile it emerged that German Chancellor Angela Merkel, French President Nicolas Sarkozy and European Central Bank President Jean-Claude Trichet were holding a crisis meeting on Wednesday to prepare for the weekend summit.






ekathimerini.com , Wednesday October 19, 2011 (22:42)
 
Merchant marine bolsters foreign exchange inflows





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By Nikos Bardounias

The merchant marine brought Greece foreign exchange inflows of no less than 140 billion euros in the 2000-10 decade, according to an annual report released by the European Community Shipowners’ Association (ECSA).
The report suggests that foreign exchange inflows from shipping and exports were the only ones to have shown an increase in Greece’s current account balance.
ECSA adds that Greek shipping accounts for 41.49 percent of European shipping, with the Greek register featuring 2,096 ships exceeding 1,000 deadweight tons, for a total capacity of 43 million dwt. The Greek-managed fleet includes 3,185 vessels over 1,000 dwt, amounting to a 14.33 percent share of the global fleet.
Greeks own 22.54 percent of the global tanker fleet and 16.8 percent of the global dry-bulk carrier fleet, not including ships on order.
Petrofin Research data show that the number of Greek shipping companies owning more than 25 vessels increased from 31 in 2010 to 34 this year, while firms owning between 16 and 24 ships also increased from 33 to 37 within a year.


ekathimerini.com , Wednesday October 19, 2011 (22:50)
 
Commission report release held up



Brussels at odds with IMF about sustainability of Greek public debt



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The differing views between the European Commission and the International Monetary Fund on the sustainability of Greece’s debt have led to a delay in the issuing of a report by Brussels on the country.
The IMF is maintaining a tougher stance vis-a-vis the Greek debt and how viable it could be and is seeking the drafting of a new streamlining program, as it considers the Commission’s estimates too optimistic.
The report, which is set to secure the sixth tranche of the international bailout for Athens, may not be published before the Eurogroup meeting on Friday.
Sources suggest, however, that the Commission expects the revised data on the Greek deficit and growth to take the public debt in 2010 to about 20 percentage points of the gross domestic product more than forecast in July.
The IMF has reportedly examined four alternative scenarios for the course of the debt, incorporating various levels of a Greek debt haircut, ranging from 39 percent to 60 percent. The main scenario provides for the 21 percent haircut agreed on in July. The IMF does not suggest that any of those scenarios should be implemented, but only examines the impact they would have on the Greek debt.
What is certain right now is that any solution will come with a stricter monitoring framework for the Greek economy. Troika officials consider it difficult to have normal monitoring with executive powers, but no one can rule out sending observers to key domains of the Finance Ministry, who would report both to the Greek prime minister and the eurozone.
Meanwhile, negotiations between the Institute of International Finance and the eurozone about private sector involvement (PSI) in the new bailout package for Greece are continuing in Brussels. The Europeans are aiming at a solution that would lead to a significant haircut of the Greek debt that would not be disputed by the markets (between 35 and 60 percent), while maintaining its voluntary character.
Austrian Finance Minister Maria Fekter said that “Austria’s position is that the new package requires a somewhat greater participation of the private sector,” but always on a voluntary basis. However, the time frame is particularly tight for an agreement as the eurozone summit of this Sunday is fast approaching and the aim of bring Greek debt below 100 percent of GDP by 2020 seems difficult.


ekathimerini.com , Wednesday October 19, 2011 (22:57)

***
Il punto sui nostri GGB.
 
Commission report release held up



Brussels at odds with IMF about sustainability of Greek public debt



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The differing views between the European Commission and the International Monetary Fund on the sustainability of Greece’s debt have led to a delay in the issuing of a report by Brussels on the country.
The IMF is maintaining a tougher stance vis-a-vis the Greek debt and how viable it could be and is seeking the drafting of a new streamlining program, as it considers the Commission’s estimates too optimistic.
The report, which is set to secure the sixth tranche of the international bailout for Athens, may not be published before the Eurogroup meeting on Friday.
Sources suggest, however, that the Commission expects the revised data on the Greek deficit and growth to take the public debt in 2010 to about 20 percentage points of the gross domestic product more than forecast in July.
The IMF has reportedly examined four alternative scenarios for the course of the debt, incorporating various levels of a Greek debt haircut, ranging from 39 percent to 60 percent. The main scenario provides for the 21 percent haircut agreed on in July. The IMF does not suggest that any of those scenarios should be implemented, but only examines the impact they would have on the Greek debt.
What is certain right now is that any solution will come with a stricter monitoring framework for the Greek economy. Troika officials consider it difficult to have normal monitoring with executive powers, but no one can rule out sending observers to key domains of the Finance Ministry, who would report both to the Greek prime minister and the eurozone.
Meanwhile, negotiations between the Institute of International Finance and the eurozone about private sector involvement (PSI) in the new bailout package for Greece are continuing in Brussels. The Europeans are aiming at a solution that would lead to a significant haircut of the Greek debt that would not be disputed by the markets (between 35 and 60 percent), while maintaining its voluntary character.
Austrian Finance Minister Maria Fekter said that “Austria’s position is that the new package requires a somewhat greater participation of the private sector,” but always on a voluntary basis. However, the time frame is particularly tight for an agreement as the eurozone summit of this Sunday is fast approaching and the aim of bring Greek debt below 100 percent of GDP by 2020 seems difficult.


ekathimerini.com , Wednesday October 19, 2011 (22:57)

***
Il punto sui nostri GGB.

I passaggi in verde sulla volontarietà cmq mi fanno sperare che il tema della volontarietà rimanga sempre valido :)
 
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