Tensions and confusion are increasing over the Greek political situation. While Alexix Tsipras has requested a meeting with the new French president François Hollande, according to the New York Times Germany is apparently running out of patience with Greece and numerous economists have already indicated the need to provide a plan B for the exit. A hypothesis which, however, terrifies the markets also due to the consequences it would have on the contagion to peripheral countries and the consequences of the real economy.
For the Wall Street Journal the impact would be heavy. On the other hand, according to the German Finance Minister Wolfgang Schaeuble, reports the Bloomberg agency, "if Greece decides to leave the euro, we cannot force it". Rumors of a postponement of the next tranche of aid to Greece, while this morning the spokesman for EU commissioner Olli Rhen confirmed that the payment would take place by 10 May. The chaos is reflected in the euro which slips again against the dollar at 1,2950. The European stock markets are nervous: Paris drops by 0,20% and London by 0,44%, limiting the declines, while Milan loses by 1,18% with the Btp-bund spread returning above 400 to 407 and yielding 5,59 .2,77%, Madrid loses XNUMX%.
Positive instead Frankfurt + 0,47% which filed a new record in March on exports: Germany exported goods for a value of 98,9 billion euros, and imported for a value of 81,5 billion, according to data provided known by the Federal Statistical Institute Destatis. Wall Street is not helping Europe: it starts in clear decline and at the end of the European stock exchanges the Dow Jones drops 0,61% and the Nasdaq - 0,39%.
Tensions on banks starting from Madrid where the government is preparing, according to some press sources, for a partial nationalization of Bankia as early as tonight which will bring it to a maximum of 45% of the capital: this was written by the Iberian daily ABC. Furthermore, reports the FT, the government is preparing to ask the banks for provisions for another 30 billion against the risk of real estate losses. The CDS on Spain jumps to record levels of 512 basis points and the Bonos-bund spread jumps to 456 basis points while the yield on the 10-year Bund reaches a new all-time low of 1,528% after the result of the 5-year bond auction years.
Even in Piazza Affari the banks are suffering with tensions on the spread: Unicredit drops 4,59%, Intesa 2,85% and Mediobanca 4,55% after the release of the nine-month accounts which saw a reduction in profit by 75% also as a result of new devaluations on Greek securities and equity investments. Mps collapses by 6,9 after being suspended due to excessive reductions on the day of the blitz by the Gdf on raising funds for the capital increase for the Antonveneta operation. But the worst is Mediaset which collapsed by 11,36% following the publication of accounts which greatly disappointed the market. On the contrary, Lottomatica shines +5,40% on good results with a profit that doubles to 57,6 million in the first quarter, Tenaris rebounds +3,05%, A2A +2,02%, Pirelli rises by 1,84% . Fondiaria sells 6,39% pending tomorrow's board of accounts.
