Economia
A Moody's justifica a sua decisão de descer o rating da dívida da Grécia de Ca from Caa1 com base no "announced EU support programme and debt exchange proposals by major financial institutions implies that private creditors will incur substantial economic losses on their holdings of government debt. considrando que "The announced EU programme along with the Institute of International Finance's (IIF's) statement (representing major financial institutions) implies that the probability of a distressed exchange, and hence a default, on Greek government bonds is virtually 100%. The magnitude of investor losses will be determined by the difference between the face value of the debt exchanged and the market value of the debt received. The IIF has indicated that investor losses are likely to be in excess of 20%".
Mais importante, contudo, é o facto de a Moody's, embora reconhecendo que as medidas contribuem para melhorar a sustentabilidade das finanças públicas da Grécia e conter o efeito de contágio que teria resultado de uma situação de incumprimento, considerar que "Greece will still face medium-term solvency challenges: its stock of debt will still be well in excess of 100% of GDP for many years and it will still face very significant implementation risks to fiscal and economic reform".
- A Posição Da Standard & Poors Sobre A Proposta Francesa
Pronunciando-se sobre a proposta francesa para um "roll-over" da dívida grega detida pelos investidores privados a Standard & Poors veio considerar que em ambas as opções colocadas aos investidores no âmbito daquela proposta "investors...
- Ler Os Outros: Sobre A Grécia
Dois excelentes artigos sobre a situação na Grécia. No primeiro artigo, publicado no WSJ, os Professores John Cochrane e Anil Kashyap referem a propósito da proposta alemã de que os bancos que "the only way to get banks to "voluntarily"...
- Moody's Desce O Rating De Portugal
A agência de rating Moody's desceu o rating de Portugal de A1 para A3, mantendo o outlook negativo, justificando esta medida com base em quatro factores (informação obtida via Alphaville): "1. Subdued growth prospects and productivity gains...
- O Relógio Da Dívida
World debt comparison The global debt clock Our interactive overview of government debt across the planet The clock is ticking. Every second, it seems, someone in the world takes on more debt. The idea of a debt clock for an individual nation is familiar...
- Dinâmica Da Dívida Pública
Debt dynamics The maths behind the madness The Economist online Our interactive guide to reducing government debtGOVERNMENT debt dynamics, once an esoteric subject of interest only to macroeconomists, are suddenly in vogue. With Greece...
Economia
A descida de rating da Grécia pela Moody's
A Moody's justifica a sua decisão de descer o rating da dívida da Grécia de Ca from Caa1 com base no "announced EU support programme and debt exchange proposals by major financial institutions implies that private creditors will incur substantial economic losses on their holdings of government debt. considrando que "The announced EU programme along with the Institute of International Finance's (IIF's) statement (representing major financial institutions) implies that the probability of a distressed exchange, and hence a default, on Greek government bonds is virtually 100%. The magnitude of investor losses will be determined by the difference between the face value of the debt exchanged and the market value of the debt received. The IIF has indicated that investor losses are likely to be in excess of 20%".
Mais importante, contudo, é o facto de a Moody's, embora reconhecendo que as medidas contribuem para melhorar a sustentabilidade das finanças públicas da Grécia e conter o efeito de contágio que teria resultado de uma situação de incumprimento, considerar que "Greece will still face medium-term solvency challenges: its stock of debt will still be well in excess of 100% of GDP for many years and it will still face very significant implementation risks to fiscal and economic reform".
loading...
- A Posição Da Standard & Poors Sobre A Proposta Francesa
Pronunciando-se sobre a proposta francesa para um "roll-over" da dívida grega detida pelos investidores privados a Standard & Poors veio considerar que em ambas as opções colocadas aos investidores no âmbito daquela proposta "investors...
- Ler Os Outros: Sobre A Grécia
Dois excelentes artigos sobre a situação na Grécia. No primeiro artigo, publicado no WSJ, os Professores John Cochrane e Anil Kashyap referem a propósito da proposta alemã de que os bancos que "the only way to get banks to "voluntarily"...
- Moody's Desce O Rating De Portugal
A agência de rating Moody's desceu o rating de Portugal de A1 para A3, mantendo o outlook negativo, justificando esta medida com base em quatro factores (informação obtida via Alphaville): "1. Subdued growth prospects and productivity gains...
- O Relógio Da Dívida
World debt comparison The global debt clock Our interactive overview of government debt across the planet The clock is ticking. Every second, it seems, someone in the world takes on more debt. The idea of a debt clock for an individual nation is familiar...
- Dinâmica Da Dívida Pública
Debt dynamics The maths behind the madness The Economist online Our interactive guide to reducing government debtGOVERNMENT debt dynamics, once an esoteric subject of interest only to macroeconomists, are suddenly in vogue. With Greece...