Follow The Things That Makes You Happy And The Love Project. Be The Change :) Live Your Dreams Today :D

Greece, Portugal and Ireland, saved from bankruptcy. The EU has proposed a new financial aid package

Posted on: July 21, 2011

There’s a lot of angst over whether countries on the periphery of Europe’s currency zone will be able to pay their debts on time. So how much do Greece, Portugal and Spain owe, exactly?

According to analysts at Italian bank UniCredit, the Greek government has two debt obligations coming due soon: an 8.2 billion euro bond due April 20 and an eight billion euro bond due May 19. Greek officials have said they have sufficient cash to make payments through April, having raised eight billion euros ($11.02 billion) in the bond market recently.

After May, Greece has only about one billion euros of payments to make related to maturing debt this year, UniCredit says. However, it has a roughly 31 billion euro 2010 government budget deficit to finance, which is where the real crunch probably will come.

“There’s a little bit of time,” says Jeremy Brewin, head of emerging-market debt at Aviva Investors in London, who helps manage about $2.2 billion in holdings. However, Mr. Brewin says Greece will need a lot more breathing space than this — something the German and French governments may be able to provide through some sort of financial assistance. “If it’s going to be meaningful, it needs to come pretty quickly,” he says.

Next up is Portugal, which has a single six billion euro bond coming due this year in May, according to UniCredit. The budget deficit that Portugal will need to finance is about 15 billion euros. (Portugal is also selling a three billion euro 10-year bond today. So far, the deal seems to be going fine.)

Finally, there’s Spain, which has roughly 17 billion euros of debt coming due in July and a 94 billion euro 2010 budget deficit to finance.

What all this suggests is that while the cost of insuring these countries’ debts may tend to rise and fall together sometimes, they’re not the same country.

Indeed, countries on the periphery of the 16-nation euro currency zone face different challenges when it comes to making payments on borrowings and financing future spending. On top of that, their economies are dramatically different.

The high savings rate in Spain, for example, will provide some support to that economy, Aviva Investors’ Mr. Brewin points out. The economies of Spain and Italy are also simply much larger than Greece’s. “All the things in the Greece story are not typical of anywhere else,” he says.

That’s a point that analysts at credit-ratings firm Moody’s Investors Service are scrambling to make today. In a new report, they call for investors to more clearly distinguish the creditworthiness of Spain, Portugal and Greece.

“Spain, Portugal and Greece may share the same currency, but they do not display the same credit profile,” says Kristin Lindow, senior vice president in Moody’s Sovereign Risk Group.

Source

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

WE ARE MAKING LOVE NOT WAR

Non Profit Organizations Are Replacing Private Corporations :D

The Collapse Of Rational Extroverts Science Based People And The Exponential Rise Of Emotional Intuitive Spiritual Introverts..We All Have Natural Rights Given By Our Mother Nature: To Have A Public Life, To Have A Private Life And To Have A Secret Life..LOVE YOU ALL :X

You Have The Right To Be UnGoogleAble And Live Without Any Corporate Ads Suggestions :)

Our MIND is like a CELL limited by our Own BELIEFS. It's time to move Beyond...So please, SPREAD the News and Raise the Humanity Awareness :) For a Better World! The True Revolution doesn't mean Violence. It means Reevaluating OUR Perceptions, Values and Thinking. You Are A Spiritual Being Having A Human Biological Computer Fun Experience.. Sovereign Planet :) Wake Up!

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 19 other followers

Our hearts Are Awake :D

"NOTHING IS MORE POWERFUL THAN AN IDEA WHOSE TIME HAS COME."
Victor Hugo

"DON'T ASK YOURSELF WHAT THE WORLD NEEDS; ASK YOURSELF WHAT MAKES YOU COME ALIVE. AND THEN GO AND DO THAT. BECAUSE WHAT THE WORLD NEEDS IS PEOPLE WHO HAVE COME ALIVE."
Harold Whitman

"WE ARE NOT HELD BACK BY THE LOVE WE DIDN'T RECEIVE IN THE PAST, BUT BY THE LOVE WE'RE NOT EXTENDING IN THE PRESENT."
Marianne Williamson

"INNER FREEDOM IS NOT GUIDED BY OUR EFFORTS; IT COMES FROM SEEING WHAT IS TRUE."
The Buddha

"THE GREATEST DECEPTION MEN SUFFER IS FROM THEIR OWN OPINIONS."
Leonardo Da Vinci

"THE VERY THINGS WE WISH TO AVOID, NEGLECT AND FLEE FROM TURN OUT BE THE 'PRIMA METERIA' FROM WHICH ALL REAL GROWTH COMES."
Andrew Harvey

"IDENTIFICATION...IS A FORM OF ESCAPE FROM THE SELF."
Krishnamurti

"CHANGING MASS CONSCIOUSNESS IS AN INDIVIDUAL RESPONSIBILITY."
Dennis Weaver

"CONFLICT IS THE BEGINNING OF CONSCIOUSNESS."
M. Esther Harding

"IF YOU PUT YOURSELF INA POSITION WHERE YOU AHVE TO STRECH OUTSIDE YOUR COMFORT ZONE, THEN YOU ARE FORCED TO EXPAND YOUR CONSCIOUSNESS."
Les Brown

"IT'S EXHILARATING TO BE ALIVE IN A TIME OF AWAKENING CONSCIOUSNESS; IT CAN ALSO BE CONFUSING, DISORIENTING, AND PAINFUL." Adrienne Rich

"NO PROBLEM CAN BE SOLVED FROM THE SAME LEVEL OF CONSCIOUSNESS THAT CREATED IT."
Albert Einstein

"ONLY WHEN YOUR CONSCIOUSNESS IS TOTALLY FOCUSED ON THE MOMENT YOU ARE IN CAN RECEIVE WHATEVER GIFT, LESSON, OR DELIGHT THAT MOMENT HAS TO OFFER."
Barbara de Angelis

"THE KEY TO GROWTH IS THE INTRODUCTION OF HIGHER DIMENSIONS OF CONSCIOUSNESS INTO OUR AWARENESS."
Lao Tzu

"OUR ATTITUDE TOWARD LIFE DETERMINES LIFE'S ATTITUDE TOWARDS US."
Earl Nightingale

"OPTIMISM IS THE ONE QUALITY MORE ASSOCIATED WITH SUCCESS AND HAPPINESS THAN ANY OTHER."
Brian Tracy

TOP ALTERNATIVE NEWS SITES

http://english.aljazeera.net/
http://www.activistpost.com/
http://www.mind-trek.com/
http://www.prisonplanet.com/
http://www.infowars.com/
http://beforeitsnews.com/
http://www.blacklistednews.com/
http://cryptome.org/
http://www.davidicke.com/
http://www.demotix.com/
http://www.disinfo.com/
http://www.drudgereport.com/
http://educate-yourself.org/
http://www.exopolitics.org/
http://www.getoutofdebtfree.org/
http://www.globalresearch.ca/
http://www.godlikeproductions.com/
http://news.ycombinator.com/
http://www.theagoranational.ca/
http://www.coasttocoastam.com/
http://www.truthwinds.com/
http://www.dailymail.co.uk/
http://www.naturalnews.com/
http://rense.com/
http://www.ufo-blogger.com/
http://rt.com/news/today/
http://www.news.com.au/
http://newsfeedresearcher.com/
http://www.physorg.com/
http://www.redicecreations.com/
http://www.setyoufreenews.co.uk/
http://www.space.com/
http://thecrowhouse.com/home.html
http://www.dailygalaxy.com/
http://www.huffingtonpost.com/
http://rawstory.com/
http://www.rumormillnews.com/
http://vigilantcitizen.com/
http://truthiscontagious.com/
http://truthisscary.com/
http://projectcamelotportal.com/
http://www.world-mysteries.com/
http://www.wideawakenews.com/
http://www.yourstrawman.com/
http://www.zerohedge.com/

%d bloggers like this: