Friday, April 30, 2010

Greece/Europe – events to watch coming up


Greece/Europe – events to watch coming up
· Greece timetable: talks are expected to wrap up this weekend between the EU, IMF,
and Greece. There could be a formal announcement as soon as Fri night or on Sun
(that have been a ton of headlines quoting different officials, but it seems like
something official will be unveiled this weekend). The German parliament could
start debate on the issue as soon as Mon, w/an approval hopefully coming by the end
of the week. A summit of EU leaders is tentatively scheduled for May 10 at which
time a vote would be held and the money disbursed. Greece has a bond payment due
on May 19.
· Greece – Moody’s issued a press release @ 3pmET Thurs afternoon and said it
expects to complete its review of Greece's A3 sovereign bond rating shortly after the
details of the euro area/IMF programme are unveiled. “Moody's has previously
indicated that a multi-notch downgrade is likely, and that the specific magnitude of
the downgrade will depend on the level of ambition of the multi-year economic and
fiscal programme; the likelihood that Greece adheres to it consistently; and the levels
at which debt will stabilise/reverse (as compared to peers)”

· Greek Unions To Stage 24-Hour General Strike May 5
· May 10 – Greece Coupon payment for E2.278 billion
· May 19 – Greece Bond redemption for E8.086 billion.
· German elections - The most populous German state North-Rhine Westphalia is
scheduled for an election on May 9th.
· UK elections scheduled for May 6

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