Greece PM: Reports Of Greek Bond Buy By China "Wrong"

DAVOS, Switzerland (MNI) - Recent media reports that China would buy up to E25 billion worth of Greek sovereign bonds are "wrong," Greece's Prime Minister George Papandreou said here Thursday.

Speaking on a panel that included European Central Bank President Jean-Claude Trichet, Papandreou said that Greece has "not asked for money anywhere else." He added: "We are in a jittery time" in which "rumors can create problems."

Indeed, on-again, off-again rumors of a large Chinese bond buy, as well as about a possible eurozone-wide bailout for Greece, have whipsawed Greek sovereign debt in financial markets this week.

The spread on Greek 10-year bonds earlier today hit a new post-EMU record against German Bunds, soaring well above 370 basis points. Then, after a newspaper report said eurozone members were working on a bailout for Greece, the spread narrowed briefly to below 370. After the German Finance Minister aggressively denied the report, the spread blew out again, setting a new record at 380 basis points.

BRITISH READY TO BUY AGAIN IN SPAIN – BUT LEGALLY! | National ...

News that many of the people visiting international property shows in the UK last year were still looking to move abroad, specifically Spain, indicates that while the downturn has made a difference, there are signs that things are beginning to happen and that the green shoots of recovery, although sparse, are starting to make an appearance.

Spain’s main competitors were the USA and Australia and New Zealand, which have been offering immigration packages at some shows. But the survey results from these shows are especially good news for Spain, which is confirmed to be the favourite destination of potential property-buyers still with over 60 per cent of visitors indicating an interest in Spain. France came a poor second despite its familiarity and geographical proximity to British buyers.

Surveys of the public attending the show indicated that many buyers have been waiting for the right moment, and are now thinking about making a move, as the thinking is that house prices are unlikely to drop any further.

The reasons for choosing Spain, were, as one would expect, the climate, the friendly people, and previous holidays in certain areas in the past. It was also noted that buyers were now more aware of the problems now facing property investors who had chosen destinations that were not offering many flights in and out.

Some places have even cancelled flights altogether while others have cut drastically during the crunch but locally, Malaga airport continues to be served by numerous airlines with dozens of flights every day to the UK.

However, what is it exactly they can expect when they get here? As more and more we about cases hear concerning expats duped into buying illegal properties or falling foul of a law that has previously been ignored. The case in  Albox, Almeria where nine British home owners stand to lose their homes following a demolition order has now developed into a diplomatic row with Ambassador Giles Paxman getting involved and asking for a meeting to try and resolve the situation.

...

Read more...

MARBELLA property for sale - Buy a house in Costa del Sol - Villa in ...

Beautiful 500 m² house for sale in Marbella. Price 705.000 € More information at rose@expertimmo.fr

buy a house in spain - News


Greece PM: Reports Of Greek Bond Buy By China "Wrong"
Greece PM: Reports Of Greek Bond Buy By China "Wrong" The GuardianGreece PM: Reports Of Greek Bond Buy By China "Wrong"Spain's Prime Minister Jose Zapatero, speaking on the same panel, declared that no country would be leaving the eurozone. On the contrary, he observed, Davos 2010: Greece denies a bail-out is neededGreece's woes threaten EU stabilityGreece says no China deal to buy debtall 1,282 news articles »

BlackRock Tells CSN Abandon Cimpor as Demand Falls
Spain is working through an excess of around 1 million unsold new homes built during a debt-fueled construction boom. House prices have been falling since and more »

China Cools Economy While US Prepares to Loot Retirement Accounts
They feel free to talk about Greece, Ireland, Spain, Portugal, Italy and England, but not the United States. No one in America believes unemployment is 10%, and more »

CORRECT (01/08): Virgin Money Moves Into UK Retail Banking
CORRECT (01/08): Virgin Money Moves Into UK Retail Banking BBC NewsLast October Virgin Money applied to the UK Financial Services Authority to become a bank and at the same time made an application to buy Church House Trust Sir Richard Branson taps Blackstone for assault on Northern RockRichard Branson in talks with Blackstone to help in bid for Northern Rockall 347 news articles »

Saint Andrew
And, yes, he has a red Ferrari, but he did buy it second hand. He is, in fact, very much a product of his home town. Dunblane is a small, friendly town near and more »