Thursday, February 12, 2015

Europe Overview - February 12 , 2015 - Greece Fallout After Euro Group ( Division w/i Syriza ? ) .... Ukraine situation - Verbal Agreement at Minsk ? Sweden Cuts Deposit and Repo Rate Into Negative Territory and announces Its Own QE Program ! Much More .....


Tweets.......

Evening....





’s Juncker: A Great Deal Needs To Be Done On Before Monday -- BBG








DIJSSELBLOEM SAYS `DON'T GET YOUR HOPES UP YET' ON GREECE














Kathimerini's tweets that reports on 'bridge agreement' with the Eurozone "not credible. Technical discussions havent started yet"









PM Tsipras and Eurogroup pres Dijsselbloem agree to a 'technical cooperation' plan /via







gov't officials are to meet representatives of Troika tomorrow (Friday 13) to prepare for Eurogroup mtng on Monday. /via













policymakers said to hold teleconference on ELA ~RTRS /via





Greek January budget shows about €1bn revenue shortfall because of delays in tax payments - deputy finance minister to Reuters ~






Govt Official: Wants To Use Over €11bn In Bank Bailout Fund For Funding Needs During Bridge Period | ← Not possible w 'dirty exit'




MT Greek source: doc they agreed to said "amending & extending & successfully concluding" program. Schäuble nixed "amending".




MT after 2 hrs they cd not agree &the unagreed draft, w/out "amending", got leaked to press.This frm authoritative Grk source


Normandy group reach verbal agreement on reconciliation – German FM







Watch for forced smiles and awkward handshakes when Angela Merkel meets Alexis Tsipras today



's Praet: ECB will apply rules on ELA. /via | Boom.




EU chiefs take up Greece baton as Merkel-Tsipras ready to meet






RT Brussels in the shadow of Varkiza: GR talks breakdown <no war trials, reconciliation or Victory Day





MT Last night's disappointing Eurogroup means an interim deal may be delayed beyond Monday - see my note:







It is confirmed that PM Tsipras made final decision to block the statemnt. Greek govt says Varoufakis & Dragasakis were also negative abt it









Acc to well-sourced , Dragasakis & Stathakis -during recent gov mtg- said wd b better to extend bailout than do 'dirty exit'









Even if Merkel & Schäuble were willing to budge on , Stubb & Rajoy face tough elections challenges later this yr. 0 room for manoeuvr



's Hryvnia ignored positive headlines from IMF and Minsk. Drops 2.7% vs Dollar, fresh historic low.



Russian assets rallying on Ukraine agreement. 's RTS$ Index up >5%. Ruble strengthens almost 2% vs Dollar.


Greek assets rally despite debt standoff. Benchmark index ASE gains 4%, 3yr yield drops by 112bps to <20%.




Meanwhile... GREECE STILL SEEKS BRIDGE AGREEMENT WITH EU: GOVT OFFICIAL.