Monday, February 2, 2015

Europe's Monday - a review of Monday February 2 , 2015 - Focus on Post Election Greece / Syriza steps toward talking to the EU and EZ Countries as it prepares for debt talks ..... Denmark in focus as stealth QE kicks in ( Denmark halts debt sales to protect it peg to euro ) ...... Spain in focus and Podemos items of note..... Additional items ......



Tweets.....



Greece.....

Odd tidings on Greece's looming  negotiation with the Troika !









Greece Changes Strategy: No Longer Demands Debt Write Off, Proposes Debt Exchange Instead





A haircut that "avoids the need for such a term"






Correct, and ECB will say no RT : still a default event though as is a distressed debt exchange






Moody's: "Exchanges made by distressed issuers at discounts to par... are considered default events under Moody’s definition of default"







Greece is proposing a Distressed Debt Exchange. The problem is that as Moody's explained, this is an event of default










Said To Drop Write-down Request After Opposition From EU -- BBG










Finance Minister Varoufakis Has Not Discussed Debt Plan With ECB Or EU Officals - Source --RTRS








“menu of debt swaps”, “perpetual bonds”, “smart debt engineering”... Good luck with all that.








Schäuble: Troika part of agreements w , Juncker doesn't have authority to agree with Greek gov to abandon inspections. /via













Someone tell that stupid BBC woman that *this* is a proper intw of a FinMin - interviews






Greece in charts: inflation










Europe generally .....













Spanish electoral poll by Celeste Tel/El Diario:
PP: 31.1% Socialists: 23.8% Podemos: 20.9% United Left: 4.7%






While we are watching GR, Spain's socialists look determined to become new PASOK; signing a deal with PP that fits the podemos narrative







Danish bond yields plummet below even Japan's after halting debt sales to protect peg.







Denmark halts bond issues in surprise move to keep crown stable "This is basically QE through the back door."










The next Syriza? Chart of the remarkable rise of Spain's Podemos, courtesy of






Ifo: Germany's current account surplus in 2014 likely to come in at $285 bln. Almost 2x as much as China's $150 bln.








NOWOTNY: ECB INFLATION FORECASTS HAVE BEEN TOO OPTIMISTIC And from Oct: Constancio: "we don't consider that deflation is going to happen"









ICYMI: Denmark Launches "Back-Door QE", Halts Treasury Issuance: Why DKKEUR Could Be The "Trade Of 2015"



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