Titoli di Stato area Euro PORTOGALLO Operativo titoli di stato (3 lettori)

[tommy271]

Premier Portogallo rassicura sulla tenuta del governo, tassi bond in calo

venerdì 5 luglio 2013 11:06




LONDRA/LISBONA (Reuters) - Tassi in discesa sull'obbligazionario portoghese alla luce delle rassicurazioni fornite dal premier Passos Coelho riguardo la tenuta del governo, dopo una serie di incontri con il leader di Cds-PP, forza politica che aveva messo in dubbio la permanenza nell'esecutivo.

Poco prima delle 11,00 il tasso del decennale portoghese, che martedì era schizzato sopra l'8%, ai massimi da novembre 2012, scende a 7,082% da 7,403% della chiusura di ieri.

"Abbiamo trovato una formula per mantenere la stabilità del governo", ha dichiarato ieri ai giornalisti Passos Coelho, dopo un incontro con il presidente Anibal Cavaco Silva per fare il punto sulla crisi, che rischia di compromettere l'uscita di Lisbona dal piano di sostegno finanziario sottoscritto nel 2011 e il rientro sui mercati finanziari, previsto per l'anno prossimo.

Passos Coelho si è limitato a dire che tale soluzione consisterebbe in "un modo per garantire il supporto politico di Cds PP al governo".

Il premier non ha fornito altri dettagli, che verranno probabilmente definiti nell'ambito di ulteriori colloqui con il leader di Cds-PP Paulo Porta nei prossimi giorni. A detta degli analisti, Cds-PP dovrebbe ottenere ulteriori ministeri.

Qualsiasi accordo dovrà essere approvato dal presidente Anibal Cavaco Silva, che lunedì avvierà una serie di colloqui con i partiti.

 

[bosmeld]

per me si sale ancora. però qualche pagnottella l'ho portata a casa.

mi accontento cosi

 

[tommy271]

per me si sale ancora. però qualche pagnottella l'ho portata a casa.

mi accontento cosi

Potrebbe ... del resto nel giro di pochi giorni abbiamo avuto un movimento di circa 150 pb.
Se a questo sommiamo un qualche "rasserenamento" sul resto del Club Med ... qualcosa potrebbe ancora venire fuori.

Comunque bisogna vedere come si risolve la crisi interna, nonostante le dichiarazioni "distensive" sino ad ora non è emerso nulla ... ci sarà un rimpasto? Oppure ci sarà un governo monocolore con sostegno esterno? Il CDS vorrà imporre la linea a Coehlo?

 

[tommy271]

S&P revises Portugal sovereign outlook down to negative



NEW YORK, July 5 | Fri Jul 5, 2013 12:14pm EDT





(Reuters) - Ratings agency Standard & Poor's on Friday revised Portugal's sovereign credit outlook down to negative from stable.
The current rating is BB.

 

[tommy271]

Euro zone to decide on Greece's cash injection, warn Portugal




By Robin Emmott and Martin Santa
BRUSSELS | Sun Jul 7, 2013 11:06pm BST



(Reuters) - The euro zone must decide on Monday how to keep Greece on a lifeline but is divided over whether to delay aid payments to Athens in an attempt to force through unpopular reforms ranging from sacking public workers to selling state assets.
A split in Greece's governing coalition over how to shrink the country's public sector has cast doubt upon Athens' ability to meet the demands of its bailout programme, although Finance Minister Yannis Stournaras said on Sunday much had been done to reassure international creditors.
Eager to avoid a reawakening of the bloc's debt crisis and mindful of elections in Germany in September, euro zone finance ministers meet at 1500 CET (1300 GMT) and will also want to hear from Portugal after last week's political upheaval.
"This is a delicate moment and we cannot drop our guard," said a senior euro zone official involved in preparing the talks. "Nobody wants a return of the crisis."
Greece, which lived beyond its means for more than a decade, has been kept from defaulting by emergency loans since May 2010.
It hopes to get the go-ahead for the release of 8.1 billion euros ($10.5 billion) as part of its 240-billion-euro rescue package, which it needs in part to pay back 2.2 billion euros of bonds in August.
In week-long talks in Athens that ran into Sunday, the Greek government said it was close to convincing the troika of international lenders - the International Monetary Fund, the European Commission and the European Central Bank - that it can meet targets on reforming its economy.
But German Chancellor Angela Merkel, who is seeking a third term in elections on September 22, wants to avoid being seen at home as too generous to spendthrift countries. Berlin is unlikely to support a full disbursement to Greece on Monday evening, officials told Reuters.
The next tranche could be paid in instalments, which would be conditional on Athens meeting so-called milestones on Greek reforms, such as cutting state jobs or privatisations.
Olli Rehn, the EU's commissioner in charge of economic affairs, confirmed on Friday that this was an option, although over the weekend he struck a cautiously optimistic tone.
"The ball is in the Greek court and it depends on whether Greece is able to deliver the remaining elements of the milestones that have been agreed," he told Reuters in France.
Greek officials said the troika agreed to give Athens more time to make public sector staff cuts and that 25,000 state workers must be moved into a so-called mobility scheme by the end of 2013 - to be transferred or laid off within a year.


WARNING TO LISBON


Euro zone finance ministers, accompanied by ECB President Mario Draghi, will also deliver a firm message to Portugal that last week's political instability must not derail its plan to return to the debt market in 2014.

Officials are concerned that more upheaval could upset Lisbon's efforts to leave a 78-billion-euro bailout programme as the country's bond yields topped 8 percent last week, a level seen as making new borrowing unaffordable.

Vitor Gaspar, the architect of Portugal's austerity drive under the bailout, resigned last week, citing a lack of public support for cuts into welfare benefits and tax hikes. Unemployment is at a record high of nearly 18 percent.

Hoping to end a rift that threatened to bring down the government, Portugal's prime minister promoted the head of the junior coalition party to be his deputy on Saturday.

"The ministers will give Portugal the message that the country should stick to its obligations," said a euro zone official, who added that the country had funds that give it, unlike Greece, some room for manoeuvre.

Still, Portugal's new finance minister, Maria Luis Albuquerque, is a familiar face to the euro zone ministers, having earlier attended their meetings as an official. "We are reassured by the new minister, by everything we know about her," Draghi told a news conference last week.

The uncertainty has caused unease in Ireland, which is due to return to normal market borrowing and exit its bailout programme in coming months.

"The problems of Portugal and Greece keep on coming back to haunt us," said John Fitzgerald of the Economic and Social Research Institute, a Dublin-based think tank. "With the crisis not put to bed, we are walking in a minefield."

($1 = 0.7744 euros)


(Additional reporting by Ingrid Melander in Aix-En-Provence; writing by Robin Emmott and John O'Donnell; editing by Tom Pfeiffer)

 

[tommy271]

Portogallo, si aggrava la crisi politica

giovedì 11 luglio 2013 12:34



Portogallo, si aggrava la crisi politica | Mercati | Bond | Reuters

 

[GlobalMacro]

Portogallo, si aggrava la crisi politica

giovedì 11 luglio 2013 12:34



Portogallo, si aggrava la crisi politica | Mercati | Bond | Reuters

Pare di sì, dal FT:


Portugal’s president has called for a “national salvation” agreement between the ruling coalition
and main opposition party that would lead to early elections in June 2014 when the country is
scheduled to conclude a €78bn bailout programme.
Aníbal Cavaco Silva’s appeal for a “patriotic commitment” to a cross-party deal is intended to
ensure stability following a government crisis triggered by the resignation of two senior
ministers. But analysts warned that it could cause great uncertainty.
“The president has added a new problem to the country’s existing problem,” the Público
newspaper said on Thursday. “The consequences of his initiative are unpredictable ...and the
risks excessive.”
Banco BPI said the uncertainly caused by Mr Cavaco Silva’s surprise intervention was likely to have a negative impact on Portugal’s
bond yields and share prices, which have only just recovered from the impact of last week’s government resignations.
Portugal’s PSI 20 share price index fell more than 1 per cent in early trading on Thursday, with shares in the country’s leading banks
dropping by around 4 per cent. However, bond yields responded more positively, falling slightly across all maturities with benchmark
10-year yields remaining below 7 per cent
Mr Cavaco Silva had been expected to endorse a cabinet reshuffle proposed by Pedro Passos Coelho, the prime minister, in an attempt
to avert a snap election and heal a rift between the two coalition parties that had threatened to bring down the government and derail
Portugal’s bailout.
Instead, he called on the two government parties and the centre-left Socialists (PS), the main opposition party, to hammer out a
“medium-term agreement” to ensure “the governability of the country, the sustainability of public debt and the control of external
accounts”.

...

 

[tommy271]

Pare di sì, dal FT:


Portugal’s president has called for a “national salvation” agreement between the ruling coalition
and main opposition party that would lead to early elections in June 2014 when the country is
scheduled to conclude a €78bn bailout programme.
Aníbal Cavaco Silva’s appeal for a “patriotic commitment” to a cross-party deal is intended to
ensure stability following a government crisis triggered by the resignation of two senior
ministers. But analysts warned that it could cause great uncertainty.
“The president has added a new problem to the country’s existing problem,” the Público
newspaper said on Thursday. “The consequences of his initiative are unpredictable ...and the
risks excessive.”
Banco BPI said the uncertainly caused by Mr Cavaco Silva’s surprise intervention was likely to have a negative impact on Portugal’s
bond yields and share prices, which have only just recovered from the impact of last week’s government resignations.
Portugal’s PSI 20 share price index fell more than 1 per cent in early trading on Thursday, with shares in the country’s leading banks
dropping by around 4 per cent. However, bond yields responded more positively, falling slightly across all maturities with benchmark
10-year yields remaining below 7 per cent
Mr Cavaco Silva had been expected to endorse a cabinet reshuffle proposed by Pedro Passos Coelho, the prime minister, in an attempt
to avert a snap election and heal a rift between the two coalition parties that had threatened to bring down the government and derail
Portugal’s bailout.
Instead, he called on the two government parties and the centre-left Socialists (PS), the main opposition party, to hammer out a
“medium-term agreement” to ensure “the governability of the country, the sustainability of public debt and the control of external
accounts”.

...

Suppongo che Cavaco Silva ritenga troppo debole l'intesa cui è giunto Passos Coelho con il CdS ... specie in vista della prossima manovra che (suppongo) chiederà la Troika.
Ma il PSP accoglierà la proposta di un governo di larghe intese?

 

[GlobalMacro]

Suppongo che Cavaco Silva ritenga troppo debole l'intesa cui è giunto Passos Coelho con il CdS ... specie in vista della prossima manovra che (suppongo) chiederà la Troika.
Ma il PSP accoglierà la proposta di un governo di larghe intese?

Non mi sembra che l'abbiano presa molto bene, anche se non sono reazioni da parte di esponenti di primo livello:

Ferro Rodrigues: Presidente gerou situação "gravíssima" e tenta pôr PS entre espada e a parede - Política - Jornal de Negócios

O ex-secretário-geral socialista Ferro Rodrigues acusou hoje o Presidente da República de ter colocado as instituições democráticas numa situação "gravíssima" e de tentar pôr o PS "entre a espada e a parede" do ponto de vista político.

Pedro Silva Pereira acusa Cavaco de "deixar bomba atómica" - Política - Jornal de Negócios

O ex-ministro socialista Pedro Silva Pereira acusou, em entrevista à Antena 1, o Presidente da República de "deixar uma bomba atómica de dissolução da Assembleia da República ao retardador" na declaração que fez ao País na quarta-feira.

Lobo Xavier acusa Cavaco Silva de "instaurar o caos" - Política - Jornal de Negócios

O ex-dirigente do CDS-PP, António Lobo Xavier, afirmou esta quinta-feira que o Presidente da República "veio instaurar o caos" com a declaração que fez ao país na quarta-feira, já que "não tem uma solução concreta".

Le direzioni dei tre partiti sono convocate d'urgenza per oggi, quella socialista per le 18.

Passos, Portas e Seguro reúnem direcções dos partidos esta quinta-feira - Política - Jornal de Negócios

Os líderes do PSD, CDS/PP e PS convocaram de urgência as respectivas direcções dos partidos, para analisarem o comunicado realizado esta quarta-feira pelo Presidente da República.

 

[tommy271]

Non mi sembra che l'abbiano presa molto bene, anche se non sono reazioni da parte di esponenti di primo livello:

Ferro Rodrigues: Presidente gerou situação "gravíssima" e tenta pôr PS entre espada e a parede - Política - Jornal de Negócios

O ex-secretário-geral socialista Ferro Rodrigues acusou hoje o Presidente da República de ter colocado as instituições democráticas numa situação "gravíssima" e de tentar pôr o PS "entre a espada e a parede" do ponto de vista político.

Pedro Silva Pereira acusa Cavaco de "deixar bomba atómica" - Política - Jornal de Negócios

O ex-ministro socialista Pedro Silva Pereira acusou, em entrevista à Antena 1, o Presidente da República de "deixar uma bomba atómica de dissolução da Assembleia da República ao retardador" na declaração que fez ao País na quarta-feira.

Lobo Xavier acusa Cavaco Silva de "instaurar o caos" - Política - Jornal de Negócios

O ex-dirigente do CDS-PP, António Lobo Xavier, afirmou esta quinta-feira que o Presidente da República "veio instaurar o caos" com a declaração que fez ao país na quarta-feira, já que "não tem uma solução concreta".

Le direzioni dei tre partiti sono convocate d'urgenza per oggi, quella socialista per le 18.

Passos, Portas e Seguro reúnem direcções dos partidos esta quinta-feira - Política - Jornal de Negócios

Os líderes do PSD, CDS/PP e PS convocaram de urgência as respectivas direcções dos partidos, para analisarem o comunicado realizado esta quarta-feira pelo Presidente da República.

Se il Partito Socialista guarda alla propria "bottega" non dovrebbe avallare Cavaco Silva. Potrebbe perdere voti al prossimo appuntamento (nel 2014?).