Athens (Reuters) - Greece will present new plans financial and privatization Friday to try to convince investors that it can meet the terms of a rescue EU and the IMF and avoid the restructuring of its debt.
Analysts said that the announcement was not likely to mute the concerns growing mountain of debts that Athens is untenable that Greece should possibly ask investors to accept changes such as smaller refunds or later, although the Government reiterated Wednesdaythat he did not intend to do so.
Government and the Union representatives said that the Socialists in power consider to sell the stakes in the public service of electricity SLC (DEHr.AT) and telecommunications operator OTE (OTEr.AT) in a drive to raise 50 billion euros ($72 billion) from privatizations by 2015a key element of its rescue plan.
"The privatisation target looks really optimistic...". Greece needs to implement a realistic and detailed plan of how it's going to be implemented, which will be privatized and how it will take place, "said Diego Iscaro, IHS Global Insight.
"This could create a little more confidence in the markets that these targets will be achieved", he added.
It was not clear if the Government could come up with detailed plans or whether it be a general overview and wait for to spell things when he submitted a Bill to Parliament in May.
"It is a strategic plan in the medium term... so our country can not only out of the crisis, but have a perspective, have a future," spokesman for the Government, George Petalotis, told journalists.
Representatives of the Government, said the cabinet would meet on Friday morning to agree on the measures, which should also include the benefits of public sector cuts and tax hikes, starting to save about EUR 23 billion in 2012 - 2015.
A senior Monetary Fund International in Washington said Wednesday that plan to rescue the Ireland and the Greece does not debt restructuring plan.
But some analysts said that however substantial announced plans, this will not be enough to convince investors to the Greece can avoid a restructuring.
"It should be all a big for people to become less concerned by default shift and I do not think that a few tax measures more will much impact, said Ben may at Capital Economics."
The Finance Minister George Papaconstantinou reiterated Wednesday that the Government did not intend for the restructuring of debt, saying such a move could prohibit countries of markets for a long time and hurt the economy.
"The restructuring of the debt is a position that the Government did not agree with", he said at a Conference.
He said that even if the drive to reduce deficits was "a painful procedure", the economy of the Greece bottomed out during the last quarter of 2010 and growth data for the first three months of this year showed an improvement.
(Other reports by George Georgiopoulos, Lefteris Papadimas and Renee Maltezou;) (Editing by Ruth Pitchford)
View the original article here
This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.
没有评论:
发表评论