Πέμπτη 27 Φεβρουαρίου 2014
Σάββατο 22 Φεβρουαρίου 2014
Πέμπτη 20 Φεβρουαρίου 2014
The long haul: managing exit from financial assistance
by Guntram B. Wolff, Zsolt Darvas and André Sapir on 20th February 2014
Countries can make a clean exit from financial assistance, or
enter a new programme or a precautionary programme, depending on the
sustainability of their public debt and their vulnerability to shocks.
Ireland made a clean exit in December 2013, supported by significant budgetary and current-account adjustment and signs of economic recovery. But Irish debt sustainability is not guaranteed and prudence will be needed to avoid future difficulties.
A clean exit for Portugal is not recommended when its programme ends in May 2014, because compared to Ireland it faces higher interest rates, has poorer growth prospects and has probably less ability to generate a consistently high primary surplus. A precautionary arrangement would be advisable. In case debt sustainability proves dif- ficult to achieve later, some form of debt restructuring may prove necessary.
It is unlikely that Greece will be able to exit its programme in December 2014. A third programme should be put in place to take Greece out of the market until 2030, accompanied by enhanced budgetary and structural reform commitments by Greece, a European boost to economic growth in the euro-area periphery and willingness on the part of lenders to reduce loan charges below their borrowing costs, should public debt levels prove unsustainable despite Greece meeting the loan conditions.
Even assuming all goes well, the three countries will be subject to enhanced post-pro- gramme surveillance for decades. Managing such long-term relationships will be a key challenge.
Ireland made a clean exit in December 2013, supported by significant budgetary and current-account adjustment and signs of economic recovery. But Irish debt sustainability is not guaranteed and prudence will be needed to avoid future difficulties.
A clean exit for Portugal is not recommended when its programme ends in May 2014, because compared to Ireland it faces higher interest rates, has poorer growth prospects and has probably less ability to generate a consistently high primary surplus. A precautionary arrangement would be advisable. In case debt sustainability proves dif- ficult to achieve later, some form of debt restructuring may prove necessary.
It is unlikely that Greece will be able to exit its programme in December 2014. A third programme should be put in place to take Greece out of the market until 2030, accompanied by enhanced budgetary and structural reform commitments by Greece, a European boost to economic growth in the euro-area periphery and willingness on the part of lenders to reduce loan charges below their borrowing costs, should public debt levels prove unsustainable despite Greece meeting the loan conditions.
Even assuming all goes well, the three countries will be subject to enhanced post-pro- gramme surveillance for decades. Managing such long-term relationships will be a key challenge.
pc_2014_03
Παρασκευή 14 Φεβρουαρίου 2014
Χαμός στην ΕΥΠ από τις αποκαλύψεις του GreekAmericanNewsAgency
Η ανωτέρω ανακοίνωση αναφέρεται στις πρόσφατες αποκαλύψεις του GreekAmericanNewsAgency, το οποίο εσκεμμένα αναφέρουν ως Blog (ιδιαίτερα μεγάλη τιμή μας να αναφερόμαστε ως Bloggers, αρκεί να σκεφτούν οι συνάκτες της ανακοίνωσης ότι πλέον οι ανεξάρτητοι Bloggers ανα τον κόσμο αποτελούν για κυβερνήσεις και οργανισμούς πολύ πιο αξιόπιστες πηγές, εξ ου και ο Λευκός Οίκος τους αναγνώρισε ισότιμα και σε αρκετούς -υπό προϋποθέσεις έχει εκδώσει ειδικό πάσο και διαπίστευση-). Επομένως ουδόλως μας υποτιμούν. Το γεγονός ότι παραλείπουν σκοπίμως να αναφερθούν στο όνομα του πρακτορείου, έχει και αυτό την δική του ερμηνεία και τις υπόγειες και ύποπτες σκοτεινές διασυνδέσεις....
Η ανωτέρω ανακοίνωση είναι η απάντηση στην παραπάνω ανακοίνωση.
Διαβάστε τι έχει προηγηθεί
Το
στικάκι με τις απόρρητες συνομιλίες αμερικανών που υπέκλεψε η ΕΥΠ, οι
"αντιδράσεις" του έλληνα Πρωθυπουργού & το υπόγειο παρασκήνιο - See
more at:
http://greekamericannewsagency.com/2010-01-19-17-52-24/editorial/27252-edito10214#sthash.AiskZWc8.dpuf
Η έρευνα συνεχίζεται στο κεντρικό Portal GreekAmericanNewsAgency.com
Εγγραφή σε:
Αναρτήσεις (Atom)