Thursday, February 16, 2012

Eurozone crisis live: Greece begins cleanup after protests over austerity package




. The EU condemns the violence that struck Athens . Athens

starts cleaning reshuffle expected soon

. Germany: parliamentary vote is one step

24:19:

As if Greece did not have enough problems, the police confirmed that hackers belonging to the anti-capitalist Anonymous, last night shot down several government sites.

Among them: Prime Minister's Office, Ministry of Finance, Ministry of Public Order and the site of the police itself, says our correspondent in Athens

Helen Smith

"using computer programs that bombard us with the punches that slowed dramatically everywhere," spokesman for the police Thanassis Kokkalakis

said Helen.

"When we realized what was happening, we decided for reasons of protection to eliminate the sites ourselves."

Kokkalakis For the site of the police said the site was reduced by about 23:00 Sunday to Monday morning.

In his own blog, the group said:

Downloaded:. Major television network, the Greek Prime Minister, the National Police, the Ministry of Finance, the Greek Parliament and Finance Minister Evangelos Venizelos (personal site)

The Greek Parliament has finally approved a bill so unpopular for a second EU / IMF baiklout and avoid national bankruptcy, despite being burned buildings in central Athens against it. IMF is not over! Stop the intervention in the Greek sovereignty. If you do not get to democracy, you should expect in the U.S.!

24:01:

Fair -

a spokesman for the Greek government has said that general elections be held in Greece in April.

Pantelis Kapsis
spokesman told reporters in Athens:

(This is via Reuters) Ths new

please

New Democracy

, the center-right party has been calling for a vote in early. It will delight

PASOK

, the Socialist Party, whose popularity has plummeted since the crisis intensified.

11:56:.

The body representing the retail industry in Greece today warned last night that the vote will not be spared the country from bankruptcy

Vassilis Korkidis

, head of the National Confederation of Greek Commerce, said in a statement:


yesterday's vote in Parliament could have saved the country temporarily by default, but the Greek economy is bankrupt and the country's political system has failed.



Most buildings at 45 and burned in Athens during the night were the outlets. This image shows a man walking in a mall that was burned during the violence.


11:30:

, Olli Rehn, has come to condemn the violent scenes in Athens last night. He told reporters in Brussels that:

also want to add my voice to the Greek government in condemning the unacceptable violence that took place yesterday in Athens.

They do not represent the vast majority of Greek citizens who are truly concerned about the future of their country.

Our own Helen Smith said this morning that "the unidentified youth" had caused chaos masked men last night.

However, while a small minority were responsible for throwing stones and burning of the, probably millions of Greeks who support the tens of thousands of people protested peacefully in the streets - one point Brenda Kelly, CMC Markets is:

REHN, protesters NOT REPRESENT most people GREEKS - (. Maybe not, but peaceful demonstrators probably yes)

- Brenda Kelly (@ Brenda_Kelly) February 13, 2012

11:22:

Olli Rehn

, European Commissioner for Economic and Financial are the news reporters in Brussels today about the Greek situation.

Rehn

said he welcomed the "positive feedback", calling it "an expression of determination in the country to end the spiral of fiscal sustainability.

Rehn

acknowledged that the vote does not, alone, means that Greece will certainly receive its second bailout. "Further steps" should be adopted by the Ministers of the Eurogroup meeting time on Wednesday.

11:11:

Photos of battered streets of Athens are still to come

10:49:

More Athens, where Helen Smith said officials of the Conservative Party leader of New Democracy party insists he will not break the loan agreement and start agin.

New Democracy

was an opponent of tax imposed on Greece since the beginning, and its leader Antonis Samaras, insisted yesterday in a speech to parliament he wanted to "change and renegotiate" the loan agreement (see 8.30)



A party cadre said Elena:

We are not against the exposure of all.

We have always been by spending cuts and structural reforms.

But he could not say whether Samaras would put his name on the new agreement - a major donor Athens claims must say also respond to save funds to be released in time for the payment of ? 14.5 billion euros of bonds on March 20.

10:34:.

interesting developments in the bond market this morning, where borrowing costs have declined from Italy, but Germany rose

aa

Germany sold ? 3000000000 bills from six months to an average yield [actually pay interest on the bond] of only 0.0761%. In a previous auction of this type, investors actually paid in Germany to support its debt (with the yield reaching -0.012%).

Italy sold ? 8.5 billion a year on account yields 2.23%, compared to 2.735% in a similar auction last month, plus another ? 3.5 billion of 127 day represents only 1.5% (1.64%)

The usual requirement applies - .. with European banks holding nearly ? 500 billion in preferential loans from the ECB, there are a lot of liquidity sloshing around the system

UPDATE: The coverage ratio of bids to the Italian market a year of the auction was reduced to 1.09 this morning - which means that almost was not enough receive bids to the amount of debt on offer [still that liquidity "sloshing around"]. Well, the Italian Treasury is now blaming a "technical failure" .....

development

Greek Prime Minister
Lucas Papademos
need to bring the new ministers, after several members of PASOK and New Democracy has resigned in protest against the austerity program.

Insiders said
Helen Smith in Athens that "a range wide cabinet reshuffle" can be expected today, perhaps even next few hours. He says:


Find best price for : --Greece----Bloomberg----Berlusconi----Silvio----Samaras--

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