Thursday, June 30, 2011

Greece Economy: Delicate balance in the ASE

In positive territory, but nervousness and "moderate" volume moves Thursday, the DG the ASE, following the "yes" in the medium and pending the enactment of the Implementing Act. Up to 2.40% gains in banks.
Back on the rise and spread CDS
The medium was passed, the backlog remains
On paper remain critical initiatives as more weight is focused on adoption of new measures. Expires today and the deadline for 400 million revenue from the sale of OTE as a first sign of intent to purchase and Troika.
And a new loan, the IKA for the payment of pensions
"Internal" loan 100 million from the Department of insureds PPC for 10 days gets the Foundation. In race services to collect revenue.

The probability of a Greek bankruptcy and greater debt crisis in the euro area remain the main causes of risk to the global outlook, says Fitch Ratings in the biannual report on trends in global economy.

As emphasized in the house, a disorderly failure of Greek would have resulted in a high volatility in the market, exercising strong pressure on states and the financing banks and the broader repricing of credit state of the eurozone.

He continues that the risk of transmission to other vulnerable countries in the eurozone and banking systems is important.

"For this reason, the resolution of the current debt crisis is a necessary but not sufficient to prevent a systemic threat to the eurozone."

Outside the eurozone, the U.S. venturing on their own debt crisis by disagreement on whether to raise their own state's debt limit. As stated in the past Fitch, expects to find an agreed outcome and the U.S. government will pay on time and in upright debts.

citydent düsseldorf, worldwide fxc feedback, worldwide api feedback


However, any failure timely action may jeopardize the AAA status of the U.S. economy. A default by the largest creditor and issuer of the largest currency reserves, would be extreme and would threaten the still fragile financial stability in the United States and the world as a whole, especially while developing the debt crisis in the eurozone.

Even commented that in contrast to the problems faced by developed economies, developing grow at a robust pace and dynamic of their evaluations remain positive.

The Fitch foresees that developing economies in 2011 will experience GDP growth of 5.7%, as in 2012, which is lower than 6.8% in 2010, but much higher than the 1.9% expected for developed economies in 2011 and 2.3% in 2012.

No comments:

Post a Comment