March 19 Greek Prime Minister George Papandreou
has urged EU heads of state and government to make a clear
pledge of financial support at a summit in Brussels next
Thursday and Friday and said Greece could turn to the IMF
instead as a last resort.
Greece shocked markets in October by revealing its budget
deficit would reach 12.7 percent of gross domestic product in
2009, raising borrowing costs and weighing on the euro currency.
It unveiled extra austerity measures earlier this month to
cut its deficit to 8.7 percent of GDP this year. [ID:nSGE6230AF]
Euro zone members Portugal and Spain also had big 2009
deficits of 9 percent or higher. Here are some details on
forthcoming events in Greece as well in Portugal and Spain:
-- March -- A new tax bill is expected to go to parliament
next week. [ID:nLDE62F2796]
-- April -- Government plans to bring a pension reform bill
to parliament, increasing the effective retirement age to 63
from 61 by 2015.
-- Greek civil servants are planning more strikes for 24
hours in March or April to protest against austerity measures
aimed at tackling the country's worst financial crisis in
March 18 -- National Statistics Service (NSS) releases Q4
March 19 -- Bank of Greece releases data on the country's
current account deficit in January.
-- March 18 -- BRUSSELS - Prime Minister George Papandreou
addresses European Parliament's special committee on financial
-- March 25 -- BRUSSELS - European Council summit. Through
to March 26. Prime Minister George Papandreou to participate.
-- Greece is considering roadshows to the United States and
Asia, including China and Japan, aiming to diversify its debt
investor base, now largely European. Originally planned for
early March, the roadshows have been pushed back to a later
BIG DEBT MATURITIES:
April 20 - Government has to refinance 8.2 billion euros of
a maturing five-year, 3.1 percent fixed-coupon government bond.
April 23 - Another 1.92 billion euros of short-term debt
becomes due -- 13-week T-bills issued in January this year.
May 19 - Greece will need to refinance 8.5 billion euros of
a maturing 10-year fixed-coupon 6.0 percent bond.
GROWTH AND STABILITY PACT DEBATE:
March 25 -- Parliament to debate Socialist government's
long-term plan to cut public deficit to 2.8 percent in 2013 from
8.3 percent of GDP this year. The government wants a vote to
obtain wider political support for the plan from the opposition
and convert it into law.
GOVERNMENT DEBT SUPPLY:
April 7 -- IGCP debt agency holds second of two 12-month
t-bill auctions (new issue) with a total of 1.5-2 billion euros
to be offered.
During Q1 (dates to be specified):
Gross treasury bond issuance of 5.5 billion euros to 6.5
billion euros, including the launch of a new bond through
syndication of between 3 billion euros and 4 billion euros.
OTHER POLITICAL EVENTS:
March 26 -- Largest opposition party, the centre-right PSD,
holds leadership elections.
March 23 -- Spain to auction 3 and 6 month Treasury bills.
March 24 -- Trade balance data for Jan.
March 24 -- The Bank of Spain Gov. Miguel Angel Fernandez
Ordoñez to address conference in Valencia.
March 30 -- Retail Sales yy for Feb.
March 30 -- HICP y/y Flash for March.
Source: Reuters bureaux: