Titoli di Stato area Euro PORTOGALLO Operativo titoli di stato (5 lettori)

Llukas

Frangar non Flectar
io ho un missilotto sul Porto e Russia non ce lo voglio!

:D

comunque se va male vendo in loss e passo tutto sulla Grecia.
 

tommy271

Forumer storico
A dire il vero in Grecia ci fu qualche titolo che tocco' quota 10. In ogni caso ne dubito fortemente anche io. Secondo me non succedera' nulla, per gli stessi motivi per cui non succedera' nulla in Grecia (anche se il Porto rende meno e ha piu' debito in mano ai privati quindi un psi taglio "tenta" di piu'). Quello che volevo dire e' che trasformare i bond portoghesi in ZC con allungamento delle scadenze di 10 anni come proponeva Tommy non sarebbe una ristrutturazione leggera. Oltre al fatto che contabilmente non si abbasserebbe il debito/pil. Preciso, per chiarezza, che io in Pt non ho più nulla da mesi

Mai detto "ristrutturazione leggera", anzi sarebbe estremamente penalizzante per retailer e "privati" vari.
Ma potrebbe essere una soluzione rispetto alle banche che potrebbero mantenere a bilancio il nominale, sempre con il supporto BCE.

E' quello che dovevano fare il Grecia, anzichè affossare le banche e poi metterci dentro 50 MLD.

Personalmente, rimango dell'avviso che questa potrebbe essere una soluzione praticabile, senza troppi danni collaterali ... salvo per il "parco buoi" ...
 

tommy271

Forumer storico
Portugal pagó mil millones en intereses por su rescate en 2012

Representa una séptima parte del importe total de intereses pagado por el Estado portugués en 2012, que sobrepasó 7.000 millones de euros

Economía | 23/09/2013 - 16:08h




Lisboa, (Efe).- Los intereses que paga Portugal a cambio del rescate financiero concedido por la UE y el Fondo Monetario Internacional (FMI) ascendieron el pasado año a más de mil millones de euros, según datos oficiales conocidos hoy.

Esta cifra, recogida en el informe anual sobre la gestión de la deuda pública del Tesoro luso, representa una séptima parte del importe total de intereses pagado por el Estado portugués en 2012, que sobrepasó 7.000 millones de euros debido sobre todo al vencimiento de deuda a largo plazo vendida en años anteriores.

Aun así, el interés abonado como contrapartida por el préstamo internacional se incrementó respecto a 2011, cuando se firmó el rescate, y que entonces se limitó a 113 millones de euros.

La UE y el FMI concedieron un crédito a Portugal por valor de 78.000 millones de euros, de los cuáles 63.000 se ingresaron en las arcas lusas entre 2011 y 2012.

El interés medio del préstamos oscila entre el 3 y el 4 % anual, con un vencimiento de entre 12,5 y 15 años en el caso del dinero enviado por la UE y de 7 años en el caso de los fondos procedentes del FMI.

Analistas y expertos lusos coinciden en apuntar que estos tipos son sensiblemente más bajos de las que obtendría Portugal en caso de acudir directamente al mercado y subastar deuda a largo plazo, emisiones que ha evitado desde que solicitara la ayuda internacional a la espera de que la rentabilidad exigida por los inversores para comprar títulos lusos descienda.

Sin embargo, el país se prepara para regresar a estas subastas de obligaciones en breve, ya que en junio de 2014 dejará de recibir los fondos del rescate.

***
Costo del debito.
 
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tommy271

Forumer storico
Portugal's 'discredited' parties a boon for local independents


By Axel Bugge
SINTRA, Portugal | Fri Sep 27, 2013 1:52am EDT










(Reuters) - Disillusion with Portugal's main parties, both battered by association with the country's deep economic crisis and international bailout, is translating into a surge in independent candidates for Sunday's local elections.

While government austerity measures - a condition of the bailout - have sparked periodic protests and strikes, the protests haven't turned violent, as in Greece, nor have voters turned to extremist political parties to vent their anger.

Their outlet, instead, appears to be the unaligned.

The historic tourist town of Sintra, 30 kilometres (19 miles) west of Lisbon on the Atlantic coast, is an extreme example of the trend, with six independents among the 11 candidates for mayor, including a well-known singer in the local Fado tradition.

"In the setting of the economic and financial crisis, of parties being discredited, there is a personalisation of politics, which helps independents and gives them a better chance," said political analyst Antonio Costa Pinto.

Sunday's municipal vote will be Portugal's first local elections since the country started its austerity programme under a 78-billion-euro ($105 billion) bailout from the European Union and IMF in mid-2011. The bailout has led to massive spending cuts and tax hikes and tipped the country into a two-and-a-half year recession, with record unemployment levels.

The electoral campaign is taking place in the middle of a review of the economy by EU and IMF officials, who are demanding more budget cuts.

That isn't helping the center-left Socialists, who were in power when the country applied for the bailout in 2011, nor their successors, the center-right Social Democrats, who have implemented the austerity measures to secure the rescue funds.


RECORD INDEPENDENTS


At Sunday's vote, a record 80 independent candidates are standing for mayor in the country's 308 municipalities, up from 54 candidates at the last local elections in 2009. In several key municipalities, including Portugal's second city Porto, independents are in first or second place in the polls.

Some observers think the local vote could be a watershed moment for Portuguese politics.

"In the case of victory, independents will get a base to work from, be able to offer positions to their main supporters and be ready to carry out politics," wrote Ricardo Costa, director of weekly Expresso, in his blog.

"It is still too early to draw conclusions, but it seems certain that the party system is about to go through one of its biggest changes in recent decades."

While the traditional parties still stand to win most votes and return most mayors, they are likely to be down on their previous performance, especially the ruling Social Democrats.

"We know that local elections carried out at this phase in the political cycle generally punish sitting governments," said Pedro Magalhaes, political scientist at the Social Sciences Institute of the Lisbon University.

The Social Democrats have around 27 percent support in national polls, and their junior coalition partner, the rightist CDS-PP, have around 6.5 percent.

The near collapse of the government in July when the CDS-PP threatened to quit over excessive austerity policies has not helped, boosting the Socialists, who have around 38 percent support nationally and lead the municipal race in Lisbon.

In the center of Sintra, a former royal retreat and UNESCO World Heritage Site, the tourists have kept coming through the economic crisis, drawn to the beautiful landscape, the castles and the palaces, but it hasn't made the locals any fonder of politicians.

"They are all the same," said Margarida Fereira, who works at the picturesque Pateo de Garrett cafe, when asked about the candidates. "It's been a long time since I voted."

"Nothing will change with the election," said pensioner Francisco Monteiro, 66, who was discussing politics with friends.

"I'm still thinking," he said, when asked if he had decided to vote.
That cynicism is perhaps not helped by the fact that even among the ranks of independents, there are many refugees from the main national parties.

"It is ironic that this is happening due to party divisions and not due to real independent movements," wrote Costa in his blog.


($1 = 0.7418 euros)
(Reporting By Axel Bugge; Editing by Will Waterman)
 
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tommy271

Forumer storico
certamente, ma almeno mi pare un buon segnale

A me i "buoni" segnali del FMI piacciono sempre poco ... come bondholder.

Ad ogni modo, al momento, mi pare non ci sia nulla di preoccupante... il deficit/PIL rimane alto e deve essere abbassato, l'export va bene, il quadro politico è "ingessato" ... temo però qualche sorpresa dalle elezioni locali.
Rimane il dubbio se il Portogallo riuscirà a tornare sui mercati il prossimo anno oppure (come temo) se avrà bisogno di un secondo pacchetto di aiuti.
E un nuovo pacchetto di aiuti significa altre trattative con la Troika.
 

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