Grecia ha bisogno di un debito più grande 'consigliere haircut'-tedesco


Sab Gen 7, 2012 6:35am EST

* A 50 percent debt “taglio di capelli” not enough for Greece-German
adviser

* Greece needs to reform its economy to stay in the
euro-Deutsche Bank chief economist

ATENE Jan 7 (Reuters) – A 50 percent write-down on
Greek debt holdings, part of Greece’s debt swap deal, is not
enough to put the country’s huge debt on a viable footing, un
adviser to Germany’s finance minister Wolfgang Schaeuble told a
Giornale greco.

Banks and investment funds have been negotiating with Athens
for weeks on a bond swap scheme which aims at cutting Greece’s
debt-to-GDP ratio from 160 percent to a more manageable 120
cento da 2020 and is a key part of a second, 130 € 1000000000
bailout package for the country without which it risks default.

Under the so-calledprivate sector involvement” (PSI),
investors will voluntarily accept a nominal 50 percent discount
on their Greek bond holdings in return for a mix of cash and new
obbligazioni. But talks have been held up by disagreements over the
real cost of the haircut, through factors such as the coupon and
maturity of the new bonds.

In an interview with To Vima’s Sunday edition, Clemens Fuest,
who is also an academic, said the Greek debt haircut should be
higher than the agreed 50 percent to help Greece repay its debt.

“Questo (50 per cento) rate was accompanied by the idea it would
be associated with a long-term economic consolidation programme,
which would reduce the accumulated debt to 120 cento del
annual gross domestic product in 2020,” ha detto.

But such a reduction is not enough. We had already (un debito
di) 120 percent at the beginning of the crisis. So the reduction
must be higher than 50 cento.”

Greece wants investors to voluntarily sign up to the PSI to
avoid triggering a credit event for the country but Fuest said
this was putting the deal at risk and that the swap should be
compulsive.

To my view, Greece has already defaulted,” ha detto. “I
believe that the best thing would be if one honestly says that
the Greek government cannot repay its debt. In such a way, un
better settlement could be achieved”.

Greece is racing against the clock to put in place
long-delayed reforms and meet the terms of the European Union
and the International Monetary Fund for continued funding ahead
of a crucial visit of the “troika” of its international lenders
in mid-January.

A Greek finance ministry official said last week the PSI
scheme is expected to be completed around mid-January so that
Greece could then conclude the negotiations on the terms of its
second bailout.

But Fuest warned that the PSI by itself could not help
Greece unless it reformed its economy and did not rule out the
nation quitting the euro, dicendo: “I only hope this won’t
happen”.

Echoing Fuest’s remarks, Deutsche Bank Chief Economist
Thomas Mayer told another Greek newspaper that Greece should put
its finances in order to stay in the euro zone.

Even after the (debito) ristrutturazione, the prospects for the
Greek debt remain a big challenge,” Mayer told Real News. “È
clear that only a comprehensive programme of economic reforms
can save Greece from exiting the euro.


Predizioni di viaggio per 2012: Morte e distruzione possono promuovere il turismo

The former is being commemorated with everything from cruises retracing the doomed liner’s route — albeit with a much happier ending — to a flashy new waterfront development in Belfast, Irlanda del Nord, the city where the ship was built.

The latter is the focus of marketing efforts throughout theMundo Maya— most notably Mexico, Belize, Guatemala and Honduras — aimed at convincing sun-seekers and history buffs that what pessimists dub an impending apocalypse is merely the dawn of a new era.

Toss in potential European bargains courtesy of the continent’s financially strapped PIGS (a derogatory acronym referring to Portugal, Ireland/Italy, Grecia e Spagna) and a slumping euro that just hit its lowest level against the dollar in 16 mese, and it’s no wonderdoom and gloomtourism might be on the upswing this year.

But plenty of other destinations and trends will influence American travelershard-earned time and money in the months ahead. Tra questi:

London is calling

Still preening after last year’s royal nuptials (città, come Duchess Catherine, looked radiant), London will host the Summer Olympic Games July 27-Aug. 12. A three-month-long arts festival kicks off June 21, e Hyde Park, Trafalgar Square e Victoria Park will beam live broadcasts of the games on giant outdoor screens for those who don’t have tickets.

The first week in June, nel frattempo, Gran Bretagna celebrates Queen Elizabeth II’s 60 years on the throne with a Diamond Jubilee.

Hawaii says ‘alohato more flights

Con 2012 shaping up as another strong year for tourism to Hawaii, don’t expect a wave of bargains.

But with Hawaiian Airlines launching nonstop service from New York City questa estate, Alaska Airlinesready to expand and dominate” il West Coast market and a big wild card of possible new service via Allegiant and/or Southwest, U.S. visitors likely will have more options for getting there, says the deal-watcher blog BeatofHawaii.com.

U.S. anniversary celebrations

Elsewhere in the USA, both Arizona (Febbraio. 14) and New Mexico (oggi) are commemorating 100 years of statehood. San Francisco‘s iconic Golden Gate Bridge turns 75 maggio, with a lineup of lectures, performances, exhibits and film screenings plus a revamped visitor plaza that features better trail connections, more seating and (assuming the fog hasn’t rolled in) improved views.

Off-limits vacation spots are back on the map maybe

Forbidden fruit to most U.S. tourists since 1961, Cuba reopened for limitedpeople to peopleexchanges last year. But while demand has been strong, it’s still too soon to break out the stogies and mojitos for beach vacations: Visitors must travel as part of a group with a humanitarian/cultural/educational focus, and tight U.S. restrictions have forced some companies that had planned to offer trips to cancel or put them on hold.

On the other side of the globe, Japan and Thailand are hoping for a rebound from last year’s earthquakes and flooding — and Myanmar (formerly known as Burma) is shaping up as Asia’s “essa” destination for 2012. Secretary of State Hillary Clinton visited late last year, and an organization founded by activist Aung San Suu Kyi now welcomes responsible tourism to a long-isolated country that some tour operators are touting as the Thailand of 50 anni fa.

Google and Facebook continue to flex their travel muscles

After months of teeth-gnashing from worried rivals, Google’s flight search engine had its coming-out party last fall. While its features remain more limited than those of competitors such as Kayak and Hipmunk (only domestic flights, for starters), “Google has shown it intends to be a market maker. It will continue to evolve what they have and come up with new travel tools in 2012, and a lot of that will be mobile,” says travel analyst Henry Harteveldt at Atmosphere Research Group.

Facebook, nel frattempo, is on track to reach 1 billion users worldwide in early 2012, and a stampede of travel-centric Web and mobile apps are trying to leverage that popularity for their own social media purposes. Whether they’ll succeed is another question: “Il (social media) challenge for travel companies is to give people a compelling reason to engage with them, and realize that we’re not friending them because we like them, but out of greed,” says Harteveldt.

Same-night hotel bookings take off

Hoping to target bargain-hunting, smartphone-wielding travelers — and tapping into a buy-now trend enabled by better, location-based technology — more hotels and online agencies are beefing up their tonight-only deals. Priceline, Orbitz and Hotel Tonight are among those that have launched or broadened same-night offerings recently. And with an average 40% of hotel rooms going empty each night, expect even more in 2012.

Vacation rentals go mainstream

Already popular with DIY travelers looking for lodging bargains and second-home owners trying to recoup some of their real estate losses, vacation rentals will be a bigger focus for such major online agencies as Expedia and Priceline, predicts travel technology columnist Dennis Schaal. E, in the wake of last summer’s well-publicized tale of a botched San Francisco rental arranged through Airbnb.com, expect a greater emphasis on safeguards for both hosts and guests.

Airline passengers keep singing the “middle seat bluesbut will have a clearer idea of what they’re paying

In an era of contraction and mergers, empty airplane middle seatsare so last decade,” notes Farecompare.com’s Rick Seaney. Yet while travelers will likely see fewer flights to smaller cities and an even tighter time frame for nabbing those elusive bargain fares, the government wants to help them skip thesticker shockof being tantalized by a low price only to discover that extra fees and taxes add 20% or more to the final cost.

Barring a last-ditch attempt by some airlines to block it, a U.S. Transportation Department rule taking effect Jan. 26 will require airlines to include all government taxes and fees in their advertised fares. Other provisions, which let passengers hold or cancel reservations within 24 hours and which bar post-purchase price increases, kick in Jan. 24.


Predizioni di viaggio per 2012

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Two high-profile disasters will be making travel headlines in 2012: the 100th anniversary of the sinking of the Titanic on April 15, and the end of the world on Dec. 21 (according to some interpretations of the ancient Maya calendar, comunque).

The former is being commemorated with everything from cruises retracing the doomed liner’s routealbeit with a much happier endingto a flashy new waterfront development in Belfast, Irlanda del Nord, the city where the ship was built.

The latter is the focus of marketing efforts throughout theMundo Maya” – most notably Mexico, Belize, Guatemala and Hondurasaimed at convincing sun-seekers and history buffs that what pessimists dub an impending apocalypse is merely the dawn of a new era.

FOTO: Hot destinations for 2012

Toss in potential European bargains courtesy of the continent’s financially strapped PIGS (a derogatory acronym referring to Portugal, Ireland/Italy, Grecia e Spagna) and a slumping euro that just hit its lowest level against the dollar in 16 mese, and it’s no wonderdoom and gloomtourism might be on the upswing this year.

But plenty of other destinations and trends will influence American travelershard-earned time and money in the months ahead. Tra questi:

London is calling

Still preening after last year’s royal nuptials (città, come Duchess Catherine, looked radiant), London will host the Summer Olympic Games July 27-Aug. 12. A three-month-long arts festival kicks off June 21, e Hyde Park, Trafalgar Square e Victoria Park will beam live broadcasts of the games on giant outdoor screens for those who don’t have tickets.

The first week in June, nel frattempo, Gran Bretagna celebrates Queen Elizabeth II’s 60 years on the throne with a Diamond Jubilee.

Hawaii says ‘alohato more flights

Con 2012 shaping up as another strong year for tourism to Hawaii, don’t expect a wave of bargains.

But with Hawaiian Airlines launching nonstop service from New York City questa estate, Alaska Airlinesready to expand and dominate” il West Coast market and a big wild card of possible new service via Allegiant and/or Southwest, U.S. visitors likely will have more options for getting there, says the deal-watcher blog BeatofHawaii.com.

U.S. anniversary celebrations

Elsewhere in the USA, both Arizona (Febbraio. 14) and New Mexico (oggi) are commemorating 100 years of statehood. San Francisco‘s iconic Golden Gate Bridge turns 75 maggio, with a lineup of lectures, performances, exhibits and film screenings plus a revamped visitor plaza that features better trail connections, more seating and (assuming the fog hasn’t rolled in) improved views.

Off-limits vacation spots are back on the map maybe

Forbidden fruit to most U.S. tourists since 1961, Cuba reopened for limitedpeople to peopleexchanges last year. But while demand has been strong, it’s still too soon to break out the stogies and mojitos for beach vacations: Visitors must travel as part of a group with a humanitarian/cultural/educational focus, and tight U.S. restrictions have forced some companies that had planned to offer trips to cancel or put them on hold.

On the other side of the globe, Japan and Thailand are hoping for a rebound from last year’s earthquakes and floodingand Myanmar (formerly known as Burma) is shaping up as Asia’s “essa” destination for 2012. Secretary of State Hillary Clinton visited late last year, and an organization founded by activist Aung San Suu Kyi now welcomes responsible tourism to a long-isolated country that some tour operators are touting as the Thailand of 50 anni fa.

Google and Facebook continue to flex their travel muscles

After months of teeth-gnashing from worried rivals, Google’s flight search engine had its coming-out party last fall. While its features remain more limited than those of competitors such as Kayak and Hipmunk (only domestic flights, for starters), “Google has shown it intends to be a market maker. It will continue to evolve what they have and come up with new travel tools in 2012, and a lot of that will be mobile,” says travel analyst Henry Harteveldt at Atmosphere Research Group.

Facebook, nel frattempo, is on track to reach 1 billion users worldwide in early 2012, and a stampede of travel-centric Web and mobile apps are trying to leverage that popularity for their own social media purposes. Whether they’ll succeed is another question: “Il (social media) challenge for travel companies is to give people a compelling reason to engage with them, and realize that we’re not friending them because we like them, but out of greed,” says Harteveldt.

Same-night hotel bookings take off

Hoping to target bargain-hunting, smartphone-wielding travelersand tapping into a buy-now trend enabled by better, location-based technologymore hotels and online agencies are beefing up their tonight-only deals. Priceline, Orbitz and Hotel Tonight are among those that have launched or broadened same-night offerings recently. And with an average 40% of hotel rooms going empty each night, expect even more in 2012.

Vacation rentals go mainstream

Already popular with DIY travelers looking for lodging bargains and second-home owners trying to recoup some of their real estate losses, vacation rentals will be a bigger focus for such major online agencies as Expedia and Priceline, predicts travel technology columnist Dennis Schaal. E, in the wake of last summer’s well-publicized tale of a botched San Francisco rental arranged through Airbnb.com, expect a greater emphasis on safeguards for both hosts and guests.

Airline passengers keep singing themiddle seat bluesbut will have a clearer idea of what they’re paying

In an era of contraction and mergers, empty airplane middle seatsare so last decade,” notes Farecompare.com’s Rick Seaney. Yet while travelers will likely see fewer flights to smaller cities and an even tighter time frame for nabbing those elusive bargain fares, the government wants to help them skip thesticker shockof being tantalized by a low price only to discover that extra fees and taxes add 20% or more to the final cost.

Barring a last-ditch attempt by some airlines to block it, a U.S. Transportation Department rule taking effect Jan. 26 will require airlines to include all government taxes and fees in their advertised fares. Other provisions, which let passengers hold or cancel reservations within 24 hours and which bar post-purchase price increases, kick in Jan. 24.

Laura Bly, USA TODAY

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