Η moody's μας υποβάθμισε για 3 πολύ συγκεκριμένους λόγους.
1)Μη υλοποίηση στην πράξη των μεταρρυθμίσεων.
2)αδυναμία συλλογής εσόδων και φοροδιαφυγή.
3)αβεβαιότητα για το μηχανισμό στήριξης μετά το 2013.
και αναλυτικά η ανακοίνωση moody's στα αγγλικά:
Moody's recognizes the very significant progress that Greece has made in implementing a large fiscal consolidation and introducing the legislation required to support a wide-ranging structural reform programme. However, Moody's believes that the Greek government still faces a very significant challenge in its continued execution of the measures required to both increase revenue and achieve efficiency savings as part of the austerity programme. Whether relating to improvements in the operating efficiency of state-operated enterprises, to the savings required in the health service or in military expenditure, or to the implementation of deregulation measures passed by parliament, the task facing officials and managers remains enormous. Moody's therefore continues to see large implementation risks to the government's reform plans and, while much of the enabling legislation has been passed, implementation progress has not been sufficiently rapid to mitigate the rating agency's concerns.
Secondly, government revenues have been slow to rebound, which is in part the result of a continued weakness in tax collection mechanisms that Moody's anticipates will improve only slowly. Moody's has long attached great importance to the implementation of measures to increase government revenues alongside the planned cost-cutting measures. Ας previously stated, the rating agency continues to place particular emphasis on measures to combat the endemic tax evasion that has contributed to the deterioration in Greece's creditworthiness. While the Greek government has made some progress with the collection of value-added taxes (VAT), Moody's notes that progress on income tax collection has been slower to improve -- indeed, revenue shortfalls recorded in 2010 contributed to the upward revision in the country's deficit projections for that year. Moreover, Moody's expects income tax collections to be adversely affected by significant administrative hurdles and by the inevitable resistance to tax compliance among parts of Greek society. Legislation to address these issues is currently before parliament, but will be challenging to implement, both because of human resource limitations (such as skills shortages) and because of vested interests that will be resistant to change.
The third driver of the rating action is the lack of certainty surrounding (i) the precise nature and conditions of support that will be available to Greece after 2013, and (ii) its implications for bondholders. Moody's acknowledges that the IMF and European authorities have expressed very strong support for Greece provided that the country follows through with this economic programme. The rating agency's baseline assumption is that this support will continue to be forthcoming and that the Greek authorities will continue to do their best to comply with the conditions contained in the Memorandum of Understanding. However, public statements by European officials have suggested that additional liquidity support after 2013 would be conditional on a solvency evaluation, the result of which is uncertain at this point in time. If Greece were viewed as insolvent at this time, there is some possibility that private creditors would be expected to bear some losses.
1)Μη υλοποίηση στην πράξη των μεταρρυθμίσεων.
2)αδυναμία συλλογής εσόδων και φοροδιαφυγή.
3)αβεβαιότητα για το μηχανισμό στήριξης μετά το 2013.
και αναλυτικά η ανακοίνωση moody's στα αγγλικά:
Moody's recognizes the very significant progress that Greece has made in implementing a large fiscal consolidation and introducing the legislation required to support a wide-ranging structural reform programme. However, Moody's believes that the Greek government still faces a very significant challenge in its continued execution of the measures required to both increase revenue and achieve efficiency savings as part of the austerity programme. Whether relating to improvements in the operating efficiency of state-operated enterprises, to the savings required in the health service or in military expenditure, or to the implementation of deregulation measures passed by parliament, the task facing officials and managers remains enormous. Moody's therefore continues to see large implementation risks to the government's reform plans and, while much of the enabling legislation has been passed, implementation progress has not been sufficiently rapid to mitigate the rating agency's concerns.
Secondly, government revenues have been slow to rebound, which is in part the result of a continued weakness in tax collection mechanisms that Moody's anticipates will improve only slowly. Moody's has long attached great importance to the implementation of measures to increase government revenues alongside the planned cost-cutting measures. Ας previously stated, the rating agency continues to place particular emphasis on measures to combat the endemic tax evasion that has contributed to the deterioration in Greece's creditworthiness. While the Greek government has made some progress with the collection of value-added taxes (VAT), Moody's notes that progress on income tax collection has been slower to improve -- indeed, revenue shortfalls recorded in 2010 contributed to the upward revision in the country's deficit projections for that year. Moreover, Moody's expects income tax collections to be adversely affected by significant administrative hurdles and by the inevitable resistance to tax compliance among parts of Greek society. Legislation to address these issues is currently before parliament, but will be challenging to implement, both because of human resource limitations (such as skills shortages) and because of vested interests that will be resistant to change.
The third driver of the rating action is the lack of certainty surrounding (i) the precise nature and conditions of support that will be available to Greece after 2013, and (ii) its implications for bondholders. Moody's acknowledges that the IMF and European authorities have expressed very strong support for Greece provided that the country follows through with this economic programme. The rating agency's baseline assumption is that this support will continue to be forthcoming and that the Greek authorities will continue to do their best to comply with the conditions contained in the Memorandum of Understanding. However, public statements by European officials have suggested that additional liquidity support after 2013 would be conditional on a solvency evaluation, the result of which is uncertain at this point in time. If Greece were viewed as insolvent at this time, there is some possibility that private creditors would be expected to bear some losses.
Πολύ κακό αυτό που δείχνει το σχεδιάγραμμα για τον S & P 500
Ανάλυση από
http://www.heritagecapital.info/
Κάποια στιγμή , αν το νεράκι του το ήπιε θα σκύψει για να φάει . δεν μπορεί , δεν μπορεί !!!!!
Τι καλά που ήταν από τον Σεπτέμβρη μέχρι πριν από λίγο καιρό .
Όλο ανέβαινε και ανέβαινε και ανέβαινε .
Ούτε να το δεις , δεν σου έκανε όρεξη .
Αγόραζες λίγα κομμάτια μαζί με αυτά που είχες και κάθε μέρα , μα κάθε μέρα , το κοιτούσες στο κλείσιμο όταν γύριζες σπίτι από το καφέ , να δεις πόσο ανέβηκε , να δεις πόσα κέρδισες βρε παιδί μου .
Τι θέλουν τώρα μ' αυτά τα πάνω κάτω , θα αναγκαστούμε να κόψουμε το έξω και πάλι μόνιτορ, πάλι αναλύσεις , δείκτες .
Είναι άδικο αυτό που κάνουν ....
Πάντως το φαγάκι δεν το γλυτώνει , είναι θέμα ημερών να σκύψει και να φάει από το χορταράκι το black swan . Ίδωμεν .........
Τα νεότερα , αύριο βράδυ .................
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