Lucas Papademos, former European Central Bank vice president and now adviser to the Greek government, said that asset sales may exceed EU50B and that the government will present more details about its adjustment plans within 10 days. He also said restructuring the country’s debt is undesirable and not necessary.
WHAT TO WATCH: *PM George Papandreou speaks at Progressive Governance conference in Oslo *Fifty people detained by police after two protests in Athens, ANA said *Bloomberg poll shows 85% of investors think Greece will default on its debt *ECB board member Gertrude Tumpel-Gugerell said a debt restructuring isn’t a topic of conversation
ECONOMY *PDMA announces 13-WK T-bill auction amount *Eurostat releases 1Q Greek GDP *Eurostat releases debt and deficit forecasts *Greek unemployment reached 15.9% in February *Greek March Deposits Decline to EU199.2B, Bank of Greece (TELL) says *Greek house prices fell 5% in 1Q, central banks says *Greece had 13 off-market derivative contracts with Goldman Sachs
EQUITIES: *IASO (IASO GA) holds AGM at 12 p.m. *Opap (OPAP GA) shareholders approve 20% cut in board salaries *Public Power (PPC GA) union confirms strike on state stake sale plan, ANA says *National Bank’s (ETE GA) Turkish unit Finansbank AS (FINBN TI) said it will issue 115M liras of free shares
MARKETS: *The ASE Index lost 33.03 or 2.4% to 1,355.08 *FTSE/ASE 20 Index declines 2.5% at 605.44 *Cypriot General Index drops 2.2% to 884.37 *Greece 2YR Bond Yields: 24.93% - 10YR Bond Yields: 15.53% *10YR bond spread against German bunds -- 12.42 ppts *Euro -- U.S. $1.42 *The MSCI Asia Pacific Index sank 0.8% as of 12:50 p.m. in Tokyo, as China’s efforts to curb bank lending added to concerns global economic growth will slow.
BLOOMBERG TV: *8:40 a.m. James Nixon, Societe Generale, euro region economic data *10:40 a.m. Bob Bauer, Principal Global Investors, two-speed Europe
To contact the editor responsible for this story: Chris Malpass at email@example.com