{"id":1324,"date":"2010-05-03T17:15:24","date_gmt":"2010-05-03T14:15:24","guid":{"rendered":"http:\/\/hardouvelis.gr\/?p=1324"},"modified":"2023-08-02T15:46:17","modified_gmt":"2023-08-02T12:46:17","slug":"new-3-year-economic-stabilization-programme-key-measures-assessment","status":"publish","type":"post","link":"https:\/\/hardouvelis.gr\/el\/new-3-year-economic-stabilization-programme-key-measures-assessment\/","title":{"rendered":"New 3-year economic stabilization programme-Key measures and assessment"},"content":{"rendered":"<p>Authors:\u00a0Gikas Hardouvelis, Platon Monokroussos,\u00a0Theodore Stamatiou<br \/>\n<em>Publication: Focus \u2013 Greece, Eurobank Research, May 03, 2010<\/em><\/p>\n<p><strong>Summary:<\/strong><br \/>\nPrime Minister George Papandreou told a televised cabinet meeting on May 2 that his government\u00a0sealed a deal with the EU and the IMF on a multi-billion euro rescue package, aiming to address the\u00a0immense funding problems the country is presently facing and contain the spillover effects of the debt\u00a0crisis to other EU countries featuring deteriorated public finances.<\/p>\n<p>Mr. Papandreou characterized the rescue deal as \u2018\u2018an unprecedented support package\u2019\u2019 that requires\u00a0\u2018\u2018an unprecedented effort\u2019\u2019 by the Greek people. Finance Minister George Papaconstantinou gave\u00a0details of the agreement, before heading to a Eurogroup meeting later on Sunday, where the aid\u00a0package won the bloc\u2019s formal approval.<\/p>\n<p>Greek government bonds reacted positively to the news, with yield spreads over the corresponding\u00a0German securities tightening by around 50bps-130bps across the spectrum of maturities and shortdated\u00a0paper outperforming. An ECB announcement earlier today that it would continue to accept all\u00a0Greek government bonds as collateral in its liquidity-provision operations, even if their credit ratings\u00a0continues to fall, provided additional support.<\/p>\n<p>The Greek equity market was recording marginal losses at the time of writing (FTSE\/ASE 20 down\u00a00.18%), mostly on a buy-the-rumor-sell-the-fact type of reactions and, potentially, discounting a\u00a0further deterioration in the domestic economy in the period ahead.<\/p>\n<p><a href=\"http:\/\/hardouvelis.gr\/wp-content\/uploads\/2018\/01\/GreeceStabilisationMay32010.pdf\">Download New 3-year economic stabilization programme-Key measures and assessment in pdf<\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Authors:\u00a0Gikas Hardouvelis, Platon Monokroussos,\u00a0Theodore Stamatiou Publication: Focus \u2013 Greece, Eurobank Research, May 03, 2010 Summary: Prime Minister George Papandreou told<\/p>\n","protected":false},"author":1,"featured_media":4399,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9,13,15,14],"tags":[3252,3253],"yst_prominent_words":[2176,2173,1398,2175,1504,385,345,2169,384,2172,50,2170,2171,2015,2177,2016,2174],"class_list":["post-1324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic-analysis","category-greece","category-15","category-14","tag-applied-research","tag-efarmosmeni-ereuna"],"acf":[],"_links":{"self":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/1324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/comments?post=1324"}],"version-history":[{"count":2,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/1324\/revisions"}],"predecessor-version":[{"id":1456,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/1324\/revisions\/1456"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media\/4399"}],"wp:attachment":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media?parent=1324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/categories?post=1324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/tags?post=1324"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/yst_prominent_words?post=1324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}