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Martes 21/02/12 Camino al segundo rescate de Grecia
Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 4:56 pm
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Re: Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 5:06 pm
Grecia camino al segundo rescate
Los gobierno Europeos se acercaron mas al acuerdo para un segundo rescate para Grecia, calculando que los $172 billones es un precio que vale la pena pagar para prevenir el default de Grecia que podria desintegrar a la zona euro.
Los ministros de defensa trabajaron hasta horas de la noche en Brussels para llegar a un acuerdo en las condiciones del nuevo prestamo y en la posible contribucion de los bancos centrales. Tambien discutieron el intercambio de bonos para evitar la amenaza inminente de una bancarrota para Grecia el proximo mes.
Todavia no hemos terminado, tenemos que seguir trabajando dijo el ministro Aleman.
Greece Moves Toward Second Bailout
By James G. Neuger and Rainer Buergin - Feb 20, 2012 6:04 PM ET
Greece Moves Toward Second Bailout Oli Scarff/Getty Images
Graffiti depicting a young girl reaching for stars on a wall in Athens, on Feb. 18, 2012.
European governments moved toward a second rescue of Greece, calculating that the 130 billion-euro ($172 billion) cost of a fresh bailout is a price worth paying to prevent a default that could shatter the euro area.
Finance ministers haggled into the night in Brussels over the terms of new loans to Greece and a possible contribution by central banks. They also bartered with bank representatives over a bond exchange meant to stave off the immediate threat of a Greek bankruptcy next month.
Bondholders’ response to the swap, Greece’s ability to prolong two years of austerity and a gantlet of parliamentary approvals in northern European countries gripped by an anti- bailout mindset loom as risks to the latest salvage operation.
“We still have a bit of work to do,” German Finance Minister Wolfgang Schaeuble told reporters yesterday as he arrived for the meeting of euro-area finance chiefs. “We’ve set out to wrap up the decision on a new aid program for Greece. I’m confident.”
No time was set for a press conference after the meeting, which began at 3:30 p.m. yesterday.
Euro leaders point to declining bond yields in Italy and Spain as evidence that investors are less fearful that the turmoil in Greece, representing 2.4 percent of the continental economy, will spill across borders.
The 17-nation euro gained as much as 1 percent to $1.3277 yesterday, bringing its climb against the dollar this year to more than 2 percent. European stocks rose, with the Stoxx Europe 600 Index (SXXP) extending a six-month high.
Summit-Level Pledge
Finance chiefs convened two years and nine days after Greece’s fiscal woes burst upon the euro zone, prompting a summit-level pledge of “determined and coordinated action, if needed” to safeguard the currency.
Since then, creditor countries and Greece have sought leverage over each other. Rich countries led by Germany have tied aid to ever-stricter conditions, while Greece counts on Europe’s fear that letting it go bust would destabilize, and possibly wreck, the 13-year-old monetary union.
“It is the intention of nobody to have Greece outside the euro area,” Luxembourg Prime Minister Jean-Claude Juncker said as he arrived to chair the meeting. The size of the public aid is “still open.”
Finance ministers will try to make Greece’s aid numbers add up, possibly offering lower interest rates or longer loan maturities to bring Greek debt down to a target of 120 percent of gross domestic product in 2020, two officials said last week.
IMF Estimates
Unchanged terms would leave the debt at 129 percent of GDP by 2020, too high to be “sustainable,” according to European and International Monetary Fund estimates that were shown to the ministers on a Feb. 15 conference call, two officials said.
“We are here today ready to conclude this long process,” Greek Finance Minister Evangelos Venizelos said. “I am optimistic, but in any case we need a clear political approval.”
Up for debate at the meeting, attended by European Central Bank President Mario Draghi, is the role of the politically independent ECB and its national branches in the bailout that follows 110 billion euros awarded in May 2010.
The ECB could funnel profits from crisis-driven purchases of Greek bonds -- estimated at 13 billion euros by Citigroup -- back to national governments and on into the Greek package. National central banks, in turn, could join private investors in taking losses on Greek bonds in their longer-term portfolios.
‘More Tax Money’
Central-bank contributions and bigger-than-planned writeoffs by private bondholders would be two ways of drumming up the extra funds, Austrian Finance Minister Maria Fekter said.
“Governments can’t make more tax money available -- that would overburden the states,” Fekter told reporters. “We in Austria would have problems getting it through parliament.”
Fekter said she is also on guard against the IMF springing a surprise tonight by cutting its share of the Greek loans from its previous practice of delivering one third of the total.
Christine Lagarde, who was French finance minister when the crisis began and took over the IMF last year, declined to say how much the Washington-based fund will steer toward the new package.
“Greece has manifestly made very significant strides and now the work has to go on,” Lagarde said on her way in. “The IMF is here to be part of the work.”
Mid-March Deadline
European governments need to weld together the program to give enough time for the bond exchange -- designed ultimately to write off about 100 billion euros of Greek debt -- to go ahead by a mid-March deadline.
The target is for the swap offer to run from Feb. 22 to March 9, so the exchange takes place in time for Greece to escape the full 14.5 billion euro cost of a March 20 bond redemption, German lawmakers were told last week by government officials.
Frustrated with Greece’s inability to meet two years of targets for cutting the deficit and selling off state assets, donor countries are also insisting on more control over how Greece spends the money.
Germany’s Schaeuble said Greece accepts the idea of paying the international funds into a special account, which would give priority to keeping Greece solvent before releasing money for the country’s budget.
‘Permanent Troika’
The Netherlands, one of four euro states still ranked as AAA borrowers, is pushing for monitors from the “troika” of European Commission, ECB and IMF to set up a full-time observation post in Athens.
“I am myself in favor of a permanent troika in Athens,” Dutch Finance Minister Jan Kees de Jager said before the Brussels meeting. “When you look at the derailments in Greece which have occurred several times now, it is necessary that there is some kind of permanent presence.”
Greece upheld part of its side of the bargain by spelling out 325 million euros in additional spending cuts, the latest of the unpopular measures that have provoked street protests in Athens.
The Greek economy shrank 7 percent in the fourth quarter from a year earlier as unemployment surged past 20 percent in November. The country’s output is forecast to shrink for the fifth straight year.
“It’s like a puzzle: all the pieces are on the table, we have to put them together,” French Finance Minister Francois Baroin said. “That’s what we’re going to do.”
To contact the reporters on this story: James G. Neuger in Brussels at jneuger@bloomberg.net; Rainer Buergin in Brussels at rbuergin1@bloomberg.net.
Los gobierno Europeos se acercaron mas al acuerdo para un segundo rescate para Grecia, calculando que los $172 billones es un precio que vale la pena pagar para prevenir el default de Grecia que podria desintegrar a la zona euro.
Los ministros de defensa trabajaron hasta horas de la noche en Brussels para llegar a un acuerdo en las condiciones del nuevo prestamo y en la posible contribucion de los bancos centrales. Tambien discutieron el intercambio de bonos para evitar la amenaza inminente de una bancarrota para Grecia el proximo mes.
Todavia no hemos terminado, tenemos que seguir trabajando dijo el ministro Aleman.
Greece Moves Toward Second Bailout
By James G. Neuger and Rainer Buergin - Feb 20, 2012 6:04 PM ET
Greece Moves Toward Second Bailout Oli Scarff/Getty Images
Graffiti depicting a young girl reaching for stars on a wall in Athens, on Feb. 18, 2012.
European governments moved toward a second rescue of Greece, calculating that the 130 billion-euro ($172 billion) cost of a fresh bailout is a price worth paying to prevent a default that could shatter the euro area.
Finance ministers haggled into the night in Brussels over the terms of new loans to Greece and a possible contribution by central banks. They also bartered with bank representatives over a bond exchange meant to stave off the immediate threat of a Greek bankruptcy next month.
Bondholders’ response to the swap, Greece’s ability to prolong two years of austerity and a gantlet of parliamentary approvals in northern European countries gripped by an anti- bailout mindset loom as risks to the latest salvage operation.
“We still have a bit of work to do,” German Finance Minister Wolfgang Schaeuble told reporters yesterday as he arrived for the meeting of euro-area finance chiefs. “We’ve set out to wrap up the decision on a new aid program for Greece. I’m confident.”
No time was set for a press conference after the meeting, which began at 3:30 p.m. yesterday.
Euro leaders point to declining bond yields in Italy and Spain as evidence that investors are less fearful that the turmoil in Greece, representing 2.4 percent of the continental economy, will spill across borders.
The 17-nation euro gained as much as 1 percent to $1.3277 yesterday, bringing its climb against the dollar this year to more than 2 percent. European stocks rose, with the Stoxx Europe 600 Index (SXXP) extending a six-month high.
Summit-Level Pledge
Finance chiefs convened two years and nine days after Greece’s fiscal woes burst upon the euro zone, prompting a summit-level pledge of “determined and coordinated action, if needed” to safeguard the currency.
Since then, creditor countries and Greece have sought leverage over each other. Rich countries led by Germany have tied aid to ever-stricter conditions, while Greece counts on Europe’s fear that letting it go bust would destabilize, and possibly wreck, the 13-year-old monetary union.
“It is the intention of nobody to have Greece outside the euro area,” Luxembourg Prime Minister Jean-Claude Juncker said as he arrived to chair the meeting. The size of the public aid is “still open.”
Finance ministers will try to make Greece’s aid numbers add up, possibly offering lower interest rates or longer loan maturities to bring Greek debt down to a target of 120 percent of gross domestic product in 2020, two officials said last week.
IMF Estimates
Unchanged terms would leave the debt at 129 percent of GDP by 2020, too high to be “sustainable,” according to European and International Monetary Fund estimates that were shown to the ministers on a Feb. 15 conference call, two officials said.
“We are here today ready to conclude this long process,” Greek Finance Minister Evangelos Venizelos said. “I am optimistic, but in any case we need a clear political approval.”
Up for debate at the meeting, attended by European Central Bank President Mario Draghi, is the role of the politically independent ECB and its national branches in the bailout that follows 110 billion euros awarded in May 2010.
The ECB could funnel profits from crisis-driven purchases of Greek bonds -- estimated at 13 billion euros by Citigroup -- back to national governments and on into the Greek package. National central banks, in turn, could join private investors in taking losses on Greek bonds in their longer-term portfolios.
‘More Tax Money’
Central-bank contributions and bigger-than-planned writeoffs by private bondholders would be two ways of drumming up the extra funds, Austrian Finance Minister Maria Fekter said.
“Governments can’t make more tax money available -- that would overburden the states,” Fekter told reporters. “We in Austria would have problems getting it through parliament.”
Fekter said she is also on guard against the IMF springing a surprise tonight by cutting its share of the Greek loans from its previous practice of delivering one third of the total.
Christine Lagarde, who was French finance minister when the crisis began and took over the IMF last year, declined to say how much the Washington-based fund will steer toward the new package.
“Greece has manifestly made very significant strides and now the work has to go on,” Lagarde said on her way in. “The IMF is here to be part of the work.”
Mid-March Deadline
European governments need to weld together the program to give enough time for the bond exchange -- designed ultimately to write off about 100 billion euros of Greek debt -- to go ahead by a mid-March deadline.
The target is for the swap offer to run from Feb. 22 to March 9, so the exchange takes place in time for Greece to escape the full 14.5 billion euro cost of a March 20 bond redemption, German lawmakers were told last week by government officials.
Frustrated with Greece’s inability to meet two years of targets for cutting the deficit and selling off state assets, donor countries are also insisting on more control over how Greece spends the money.
Germany’s Schaeuble said Greece accepts the idea of paying the international funds into a special account, which would give priority to keeping Greece solvent before releasing money for the country’s budget.
‘Permanent Troika’
The Netherlands, one of four euro states still ranked as AAA borrowers, is pushing for monitors from the “troika” of European Commission, ECB and IMF to set up a full-time observation post in Athens.
“I am myself in favor of a permanent troika in Athens,” Dutch Finance Minister Jan Kees de Jager said before the Brussels meeting. “When you look at the derailments in Greece which have occurred several times now, it is necessary that there is some kind of permanent presence.”
Greece upheld part of its side of the bargain by spelling out 325 million euros in additional spending cuts, the latest of the unpopular measures that have provoked street protests in Athens.
The Greek economy shrank 7 percent in the fourth quarter from a year earlier as unemployment surged past 20 percent in November. The country’s output is forecast to shrink for the fifth straight year.
“It’s like a puzzle: all the pieces are on the table, we have to put them together,” French Finance Minister Francois Baroin said. “That’s what we’re going to do.”
To contact the reporters on this story: James G. Neuger in Brussels at jneuger@bloomberg.net; Rainer Buergin in Brussels at rbuergin1@bloomberg.net.
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Re: Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 5:06 pm
Treasurys Price Chg Yield %
2-Year Note -1/32 0.311
10-Year Note -9/32 2.036
* at close
7:23 p.m. EST 02/20/12Futures Last Change Settle
Crude Oil 104.72 2.41 103.24
Gold 1734.6 6.2 1725.9
E-mini Dow 12972 43 12870
E-mini S&P 500 1363.50 3.75 1354.75
7:34 p.m. EST 02/20/12Currencies Last (mid) Prior Day †
Japanese Yen (USD/JPY) 79.67 79.63
Euro (EUR/USD) 1.3210 1.3242
† Late Monday in New York
2-Year Note -1/32 0.311
10-Year Note -9/32 2.036
* at close
7:23 p.m. EST 02/20/12Futures Last Change Settle
Crude Oil 104.72 2.41 103.24
Gold 1734.6 6.2 1725.9
E-mini Dow 12972 43 12870
E-mini S&P 500 1363.50 3.75 1354.75
7:34 p.m. EST 02/20/12Currencies Last (mid) Prior Day †
Japanese Yen (USD/JPY) 79.67 79.63
Euro (EUR/USD) 1.3210 1.3242
† Late Monday in New York
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Re: Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 5:07 pm
Price: US$/lb
Copper February 20,14:28
Bid/Ask 3.7444 - 3.7476
Change +0.0003 +0.01%
Low/High 3.7439 - 3.7476
Charts
Nickel February 20,14:30
Bid/Ask 8.9814 - 9.0259
Change +0.0159 +0.18%
Low/High 8.9597 - 9.0259
Charts
Aluminum February 20,14:32
Bid/Ask 0.9700 - 0.9712
Change +0.0005 +0.05%
Low/High 0.9695 - 0.9712
Charts
Zinc February 20,14:27
Bid/Ask 0.8912 - 0.8929
Change +0.0001 +0.01%
Low/High 0.8902 - 0.8929
Charts
Lead February 20,14:34
Bid/Ask 0.9237 - 0.9274
Change +0.0018 +0.20%
Low/High 0.9219 - 0.9278
Copper February 20,14:28
Bid/Ask 3.7444 - 3.7476
Change +0.0003 +0.01%
Low/High 3.7439 - 3.7476
Charts
Nickel February 20,14:30
Bid/Ask 8.9814 - 9.0259
Change +0.0159 +0.18%
Low/High 8.9597 - 9.0259
Charts
Aluminum February 20,14:32
Bid/Ask 0.9700 - 0.9712
Change +0.0005 +0.05%
Low/High 0.9695 - 0.9712
Charts
Zinc February 20,14:27
Bid/Ask 0.8912 - 0.8929
Change +0.0001 +0.01%
Low/High 0.8902 - 0.8929
Charts
Lead February 20,14:34
Bid/Ask 0.9237 - 0.9274
Change +0.0018 +0.20%
Low/High 0.9219 - 0.9278
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Re: Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 5:07 pm
More Europe, Africa and Middle East Indexes »
Asia-Pacific
INDEX VALUE CHANGE % CHANGE TIME
NIKKEI 225 9,484.29 -0.80 -0.01% 19:06
S&P/ASX 200 INDEX 4,258.50 2.40 0.06% 19:26
Asia-Pacific
INDEX VALUE CHANGE % CHANGE TIME
NIKKEI 225 9,484.29 -0.80 -0.01% 19:06
S&P/ASX 200 INDEX 4,258.50 2.40 0.06% 19:26
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Re: Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 5:08 pm
Au down 1,732.30
Los futures del Dow Jones 42 puntos al alza.
Yields up 2.03%
Los futures del Dow Jones 42 puntos al alza.
Yields up 2.03%
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Re: Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 5:09 pm
Euro down 1.3211
Oil up 104.63
Oil up 104.63
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Re: Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 5:10 pm
Ag 33.55, futures cu 3.74
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Re: Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 5:12 pm
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Re: Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 5:14 pm
Indígenas de Perú exigen más voz en ley que aplacaría conflictos
lunes 20 de febrero de 2012 16:23 GYT
Imprimir[-] Texto [+] LIMA (Reuters) - Organizaciones indígenas exigieron el lunes al Gobierno peruano que modifique una ley que busca aminorar los crecientes conflictos sociales para darles más voz frente al desarrollo de planes mineros y energéticos por miles de millones de dólares.
Según la ley, que debería empezar a ejecutarse este mes, el Gobierno y los grupos nativos discutirán la viabilidad de los proyectos que afecten a las comunidades, en un intento por contener los más de 200 conflictos latentes.
Sin embargo, en caso de no alcanzar un acuerdo, la decisión final recae en las autoridades y los pueblos no tienen poder de veto.
La solución resulta insuficiente para los grupos indígenas, que quieren tener la última palabra en la decisión y además piden que la ley sea retroactiva a los proyectos que ya se aprobaron.
"No se trata de que el Estado tome las decisiones, sino que el Estado logre el consentimiento de los pueblos indígenas para el desarrollo de las actividades", dijo Alberto Pizango, líder del principal grupo que defiende los derechos de los indígenas de Perú, AIDESEP.
El Gobierno peruano ha dicho que la ley no dará derecho a veto a las comunidades indígenas y también ha señalado que la norma no puede tener carácter retroactivo, debido a que generaría un ambiente de inestabilidad en el país.
Perú tiene proyectos mineros por unos 50.000 millones de dólares en la próxima década, dinero que podría encontrar otros destinos si persiste el rechazo -que en ocasiones se torna violento- de pobladores irritados por no sentir los frutos de la bonanza económica y temerosos de que afecten su medio ambiente.
Los analistas consideran que la ley debería frenar el malestar social de las comunidades indígenas de Perú, golpeadas por la pobreza pese a que viven en zonas de vastas reservas naturales y focos de millonarias inversiones extranjeras.
Sin embargo, el conflicto persiste.
Las organizaciones indígenas ya se retiraron del grupo de trabajo que elabora el reglamento de la ley, que debe ser publicado este mes, ante el entrampamiento entre los funcionarios del Gobierno y los representantes de las comunidades, dijo Pizango.
Y aseguraron que presentarán una medida cautelar ante la Comisión Interamericana de Derechos Humanos o ante el Tribunal Constitucional si el Gobierno no inicia la modificación de la ley en los próximos 30 días.
(Reporte de Omar Mariluz, Editado por Juan Lagorio)
lunes 20 de febrero de 2012 16:23 GYT
Imprimir[-] Texto [+] LIMA (Reuters) - Organizaciones indígenas exigieron el lunes al Gobierno peruano que modifique una ley que busca aminorar los crecientes conflictos sociales para darles más voz frente al desarrollo de planes mineros y energéticos por miles de millones de dólares.
Según la ley, que debería empezar a ejecutarse este mes, el Gobierno y los grupos nativos discutirán la viabilidad de los proyectos que afecten a las comunidades, en un intento por contener los más de 200 conflictos latentes.
Sin embargo, en caso de no alcanzar un acuerdo, la decisión final recae en las autoridades y los pueblos no tienen poder de veto.
La solución resulta insuficiente para los grupos indígenas, que quieren tener la última palabra en la decisión y además piden que la ley sea retroactiva a los proyectos que ya se aprobaron.
"No se trata de que el Estado tome las decisiones, sino que el Estado logre el consentimiento de los pueblos indígenas para el desarrollo de las actividades", dijo Alberto Pizango, líder del principal grupo que defiende los derechos de los indígenas de Perú, AIDESEP.
El Gobierno peruano ha dicho que la ley no dará derecho a veto a las comunidades indígenas y también ha señalado que la norma no puede tener carácter retroactivo, debido a que generaría un ambiente de inestabilidad en el país.
Perú tiene proyectos mineros por unos 50.000 millones de dólares en la próxima década, dinero que podría encontrar otros destinos si persiste el rechazo -que en ocasiones se torna violento- de pobladores irritados por no sentir los frutos de la bonanza económica y temerosos de que afecten su medio ambiente.
Los analistas consideran que la ley debería frenar el malestar social de las comunidades indígenas de Perú, golpeadas por la pobreza pese a que viven en zonas de vastas reservas naturales y focos de millonarias inversiones extranjeras.
Sin embargo, el conflicto persiste.
Las organizaciones indígenas ya se retiraron del grupo de trabajo que elabora el reglamento de la ley, que debe ser publicado este mes, ante el entrampamiento entre los funcionarios del Gobierno y los representantes de las comunidades, dijo Pizango.
Y aseguraron que presentarán una medida cautelar ante la Comisión Interamericana de Derechos Humanos o ante el Tribunal Constitucional si el Gobierno no inicia la modificación de la ley en los próximos 30 días.
(Reporte de Omar Mariluz, Editado por Juan Lagorio)
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Re: Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 5:20 pm
El mercado del petroleo, incluida la Union Europea esta lista para superar las perdidas debido a Iran, dijo la Internacional Energy Agency el Lunes, despues que Iran amenazo un embargo a la EU y llevo al precio del petroleo a su nivel mas alto en 9 meses.
Pero la IEA que representa el punto de vista de los consumidors de energia advirtio que el conflicto entre Iran y el Occidente estaba poniendo al petroleo al mundo en la posicion economica que se encontraba en el 2008.
FEBRUARY 20, 2012, 12:14 P.M. ET.IEA: Oil Market Ready For Iran Loss
By BENOIT FAUCON
LONDON—Oil markets, including in the European Union, could cope with any loss of Iranian oil exports, an official with the International Energy Agency said Monday, after an Iranian threat to pre-empt an EU embargo pushed oil prices to a nine-month high.
But the IEA, which represents the views of energy consumers, warned that the standoff between Iran and the West was bringing the burden of oil prices on the global economy to near levels last seen in 2008.
Didier Houssin, IEA director for energy markets and security, said in an interview that "there are alternative supplies that can make up for any loss of Iranian exports," with more production made available both within and outside the Organization of Petroleum Exporting Countries in the second half.
The remarks came as Ahmed Ghalebani, managing director of the National Iranian Oil Co., warned European companies it would interrupt their supplies if they don't sign long-term deals, according to the oil ministry's website Shana.
Iran will sell "oil to European countries in terms of two to five-year contracts and without any preconditions and…otherwise the exports will be canceled," he warned.
Iran has been ratcheting up pressure on the European Union in recent days as it tries to pre-empt a full EU ban on its oil starting July 1.
On Sunday, Iran's oil ministry said had it halted exports to the France and the U.K.—though the measure was essentially symbolic as both countries already stopped buying Iranian oil.
But even if Iran heeds to its threat to cut supplies to other buyers, the IEA's Mr. Houssin said the "impact of such a move will be extremely limited," as many refineries will soon stop producing due to seasonal maintenance and oil companies have already started replacing Iran oil.
Even Mr. Ghalebani admitted Monday the level of Iranian oil sales to the EU "has dropped" from a previous level of 515,000 barrels a day. At the same time, people familiar with Iranian talks to find replacements in India and China say they are stumbling due to U.S. banking sanctions.
Large producers including Saudi Arabia, have already started to fill the gap, Mr. Houssin said. Current spare capacity available in OPEC, most of it in the Gulf, stands at 2.82 million barrels a day, according to the IEA, making it easy to replace the 2.2 million barrels a day of crude Iran normally exports.
Despite the comfortable cushion of available oil, the front-month April Brent contract on London's ICE futures exchange rose to $121.15 a barrel, its highest level since May, while the front-month March contract on the New York Mercantile Exchange hit $104.50 a barrel, also a nine-month high.
Markets have also been rattled by fears the verbal escalation could spiral into a military conflict after Iran threatened to block the Strait of Hormuz through which transits one-fifth of global oil supply.
But Houssin said: "the IEA stands ready to react if there is a major supply disruption" as it did last year when it released emergency stockpiles after a civil war interrupted oil flows from Libya.
Marlene Holzner, a spokeswoman for European Energy Commissioner Günther Oettinger, said similarly Monday that "the EU is well stocked with oil and petroleum products to face a potential disruption of supplies."
Still, the threat has been reflected in higher prices, pushing the cost of oil to levels dangerous for the world economy, the IEA's Mr. Houssin said.
"Our indications are that the share of the oil cost compared with the [global gross domestic product] has reached a level close to 2008," he said. At the time, a spike in oil prices to $147 a barrel was partly blamed for worsening the global recession.
"This [current] level of price could represent a risk to the global economic recovery," Mr. Houssin said.
Pero la IEA que representa el punto de vista de los consumidors de energia advirtio que el conflicto entre Iran y el Occidente estaba poniendo al petroleo al mundo en la posicion economica que se encontraba en el 2008.
FEBRUARY 20, 2012, 12:14 P.M. ET.IEA: Oil Market Ready For Iran Loss
By BENOIT FAUCON
LONDON—Oil markets, including in the European Union, could cope with any loss of Iranian oil exports, an official with the International Energy Agency said Monday, after an Iranian threat to pre-empt an EU embargo pushed oil prices to a nine-month high.
But the IEA, which represents the views of energy consumers, warned that the standoff between Iran and the West was bringing the burden of oil prices on the global economy to near levels last seen in 2008.
Didier Houssin, IEA director for energy markets and security, said in an interview that "there are alternative supplies that can make up for any loss of Iranian exports," with more production made available both within and outside the Organization of Petroleum Exporting Countries in the second half.
The remarks came as Ahmed Ghalebani, managing director of the National Iranian Oil Co., warned European companies it would interrupt their supplies if they don't sign long-term deals, according to the oil ministry's website Shana.
Iran will sell "oil to European countries in terms of two to five-year contracts and without any preconditions and…otherwise the exports will be canceled," he warned.
Iran has been ratcheting up pressure on the European Union in recent days as it tries to pre-empt a full EU ban on its oil starting July 1.
On Sunday, Iran's oil ministry said had it halted exports to the France and the U.K.—though the measure was essentially symbolic as both countries already stopped buying Iranian oil.
But even if Iran heeds to its threat to cut supplies to other buyers, the IEA's Mr. Houssin said the "impact of such a move will be extremely limited," as many refineries will soon stop producing due to seasonal maintenance and oil companies have already started replacing Iran oil.
Even Mr. Ghalebani admitted Monday the level of Iranian oil sales to the EU "has dropped" from a previous level of 515,000 barrels a day. At the same time, people familiar with Iranian talks to find replacements in India and China say they are stumbling due to U.S. banking sanctions.
Large producers including Saudi Arabia, have already started to fill the gap, Mr. Houssin said. Current spare capacity available in OPEC, most of it in the Gulf, stands at 2.82 million barrels a day, according to the IEA, making it easy to replace the 2.2 million barrels a day of crude Iran normally exports.
Despite the comfortable cushion of available oil, the front-month April Brent contract on London's ICE futures exchange rose to $121.15 a barrel, its highest level since May, while the front-month March contract on the New York Mercantile Exchange hit $104.50 a barrel, also a nine-month high.
Markets have also been rattled by fears the verbal escalation could spiral into a military conflict after Iran threatened to block the Strait of Hormuz through which transits one-fifth of global oil supply.
But Houssin said: "the IEA stands ready to react if there is a major supply disruption" as it did last year when it released emergency stockpiles after a civil war interrupted oil flows from Libya.
Marlene Holzner, a spokeswoman for European Energy Commissioner Günther Oettinger, said similarly Monday that "the EU is well stocked with oil and petroleum products to face a potential disruption of supplies."
Still, the threat has been reflected in higher prices, pushing the cost of oil to levels dangerous for the world economy, the IEA's Mr. Houssin said.
"Our indications are that the share of the oil cost compared with the [global gross domestic product] has reached a level close to 2008," he said. At the time, a spike in oil prices to $147 a barrel was partly blamed for worsening the global recession.
"This [current] level of price could represent a risk to the global economic recovery," Mr. Houssin said.
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Re: Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 5:21 pm
Aca ya dijeron que la gasolina podria llegar a $5 para la estacion de manejo.
La popularidad de Obama ha bajado por que la gasolina esta subiendo. Otro motivo adicional a todos los demas.
La popularidad de Obama ha bajado por que la gasolina esta subiendo. Otro motivo adicional a todos los demas.
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Re: Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 5:41 pm
Yne up 79.78
El Nikkei +0.28%, Korea +0.11%, Australia +0.35%
Euro down 1.3222
El Nikkei +0.28%, Korea +0.11%, Australia +0.35%
Euro down 1.3222
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Re: Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 7:44 pm
9:55 p.m. EST 02/20/12Treasurys
Price Chg Yield %
2-Year Note -1/32 0.307
10-Year Note -9/32 2.036
* at close
10:00 p.m. EST 02/20/12Futures
Last Change Settle
Crude Oil 104.79 2.48 103.24
Gold 1735.8 7.4 1725.9
E-mini Dow 12983 54 12870
E-mini S&P 500 1364.75 5.00 1354.75
10:11 p.m. EST 02/20/12Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 79.71 79.63
Euro (EUR/USD) 1.3289 1.3242
† Late Monday in New York.
Price Chg Yield %
2-Year Note -1/32 0.307
10-Year Note -9/32 2.036
* at close
10:00 p.m. EST 02/20/12Futures
Last Change Settle
Crude Oil 104.79 2.48 103.24
Gold 1735.8 7.4 1725.9
E-mini Dow 12983 54 12870
E-mini S&P 500 1364.75 5.00 1354.75
10:11 p.m. EST 02/20/12Currencies
Last (mid) Prior Day †
Japanese Yen (USD/JPY) 79.71 79.63
Euro (EUR/USD) 1.3289 1.3242
† Late Monday in New York.
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Re: Martes 21/02/12 Camino al segundo rescate de Grecia
por admin » Lun Feb 20, 2012 7:45 pm
Zona euro logra acuerdo sobre segundo paquete rescate a Grecia
lunes 20 de febrero de 2012 23:03 GYT Imprimir [-] Texto [+]
BRUSELAS (Reuters) - Los ministros de Finanzas de la zona euro lograron un acuerdo en la madrugada del martes sobre un segundo programa de rescate para Grecia que involucra un financiamiento por 130.000 millones de euros y apunta a reducir la deuda helena a un 121 por ciento del PIB al 2020, dijeron funcionarios del bloque.
"El volumen financiero (del paquete griego) es de 130.000 millones de euros y la relación deuda-PIB (será de) un 121 por ciento. Ahora hay que trabajar en el comunicado", dijo un funcionario en las negociaciones a Reuters.
Otro funcionario confirmó que el financiamiento totalizaría 130.000 millones de euros con el objetivo de reducir la deuda de Grecia desde cerca del 160 por ciento del PIB actual a un 121 por ciento al 2020.
(Reporte de Annika Breidthardt; Escrito por Luke Baker; Editado en Español por Ricardo Figueroa)
lunes 20 de febrero de 2012 23:03 GYT Imprimir [-] Texto [+]
BRUSELAS (Reuters) - Los ministros de Finanzas de la zona euro lograron un acuerdo en la madrugada del martes sobre un segundo programa de rescate para Grecia que involucra un financiamiento por 130.000 millones de euros y apunta a reducir la deuda helena a un 121 por ciento del PIB al 2020, dijeron funcionarios del bloque.
"El volumen financiero (del paquete griego) es de 130.000 millones de euros y la relación deuda-PIB (será de) un 121 por ciento. Ahora hay que trabajar en el comunicado", dijo un funcionario en las negociaciones a Reuters.
Otro funcionario confirmó que el financiamiento totalizaría 130.000 millones de euros con el objetivo de reducir la deuda de Grecia desde cerca del 160 por ciento del PIB actual a un 121 por ciento al 2020.
(Reporte de Annika Breidthardt; Escrito por Luke Baker; Editado en Español por Ricardo Figueroa)
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