The Milan Stock Exchange continues the session in positive territory and, after losing strength in the afternoon, is back up above 2 percent. After an acceleration in the morning up to 2,18%, reaching a maximum of 18.975,61 points, the Ftse Mib lost strength in the early afternoon, traveling around parity and then regaining its share around 16. In Italy, the situation is at moment stabilized, thanks to the signs of political cohesion on the maneuver which is on the way to a quick approval and the intervention at the ABI by Mario Draghi, governor of Bank of Italy and designated president of the ECB, who confirmed his positive judgments on the banking sector (the Italian banks remain solid and the institutes being examined by the European stress tests which will be announced on Friday have a Core tier 1 average of 8,6%).
But the international situation remains tense (the other Stock Exchanges travel in contrast around parity) and uncertainty remains on the lists, which is reflected in the prices of gold, a safe haven asset par excellence, which in New York has reached a new record of 1.579,7. $XNUMX an ounce. The market is still awaiting the details of the Greek debt bailout. The Financial Times reports exclusively, quoting sources within the Eurogroup, that Greece could soon repurchase part of its debt at a reduced price, about half its nominal value. A measure that would be necessary to prevent Athens from sinking under its own debt that the countries would be ready to carry on by enduring a downgrade of the Greek debt to "partial payment default".
The necessary funds would come from the European Stability Fund (EFSF), which is why the second aid package for Athens would be larger than initially foreseen - up to 115 billion euros. In the meantime, the awaited extraordinary meeting of the Eurogroup on Friday is not officially on the agenda yet. The spokesman of the EU president Herman van Rompuy reiterated that an extraordinary summit of the leaders of the euro area "is not excluded, but it has not yet been decided". For the spokeswoman of the German government, Sabine Heimbach, at the moment the leaders of the euro zone do not have scheduled an extraordinary meeting for next Friday, while France, through the spokeswoman Valerie Pecresse, says she is in favor of the summit.
A hypothesis, that of the extraordinary summit, which was finally confirmed by the spokeswoman of the EU Commission Pia Ahrenkilde ("it is part of the things that the president of the EU Commission Barroso discusses with the president of the Council van Rompuy" she said) which however specified that the final decision rests with the stable president van Rompuy. However, the stock markets all benefited from the positive opening of Wall Street: the Dow Jones rose by 0,30% to 12.486,46 points, the Nasdaq rose by 0,73% to 2.802,40 points while the S&P 500 recorded a progress of 0,50% to 1.320,27 points.
