Friday, February 13, 2015

Economic Updates - February 13 , 2015 - Greece and Europe in focus , Asia items of note !


Morning Tweets....


Greece....







Fog of Negotiations: Greece and Germany Make Friendlier Noises, Restart Talks, But Press Reports Diverge: Afte...








ECB urges Greek political deal as emergency cash line kept tight





EU's Moscovici: Monday's Eurogroup meeting to be 'difficult, decisive'



Greek gov't spokesman: Greece will strive for deal by Monday






FinMin Spokesman Jäger Says OECD Can Not Take Over Role Of Troika For





FinMin Spokesman Jäger Says The Only Way Forward Is Greek Programme Extension. /via





"Not crucial to extend. One cld also agree to start discussions on new programme. That's a distinct possibility": EU official ~




official says ECB, IMF, EU all represented in Greek talks. ← But we're not allowed toi mention the 'T' word.






Greek bonds rally further, Yields slide. 's 10yr yields drop 87bps below 10%, 3yr yields by 311bps below 15%.




Varoufakis insists on debt cut for , in Spiegel interview authorized Feb12: Greece never be able to carry current debt burden. (BBG)




Varoufakis in Spiegel: Troika members decent people but CIA also had very good people who engaged in waterboarding against their will. (BBG




German FinMin spokesperson: Greek program extension is 'the only way' forward. Modalities of program can be discussed. (BBG)





's Merkel Says Greece played only minor role at EU summit. Says 2 Possibilities For : Extend Program, Fulfill It By End-Feb.






Greece's PM: I Explained to Our Partners that Has a Plan to Exit Crisis. We Didn't Cover full Distance But We Covered Important Part





Greek PM Tsipras: The Troika And the Bailout As We Know It Don't Exist. Transition to New Greek Program Is the Sole Text for Deliberations.







Around the European Horn....





ECB: Banks to repay €16.2bn 2nd 3yr LTRO loans next week, bringing total repayment to €868bn. 1st LTRO expired in Jan






5yr default probability has dropped below 30% as Ruble stabilizes around 65 per Dollar.





’s 5yr default probability at 84% as IMF's $40bn aid plan includes debt restructuring.









Ukraine's new bail-out: The austerity to come | The Economist











The depression in one chart: Industrial production was no higher in December than 15 years ago. (via HFE)





Turkey becomes second-biggest Russian gas importer in 2014, Germany keeps leading position









Separatists Say Ukraine Not Following Minsk Accords: Interfax




Ireland looks set to seize the European Q4 growth crown, Italy the wooden spoon.








Asia ......






Syria applies for observer status at Shanghai security bloc — Russian Foreign Ministry










Global trade slowdown: India exports -11.2%, imports -11.4%.





Traders Lose Faith In BoJ As Another Weak Japanese Auction Sparks JPY, JGB Turmoil




Pakistan is bracing for a major water crisis





























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