Monday, February 23, 2015

Financial and Political Update ( February 23 , 2015 ) - Greece Reform List due in Brussels today ...... Ukraine currency and economy in freefall but Kiev continues with its War against the Eastern Regions ..... Portuguese debt falls below US debt ( in yield ) ......HSBC craters......


Tweets.....


Evening....



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Here is the reponse by a Syriza official to the leak of 's gov't proposals earlier tonight: "Apparently,…









Schauble Greek aid request is "subject to Greece submitting a list of reforms and an assessment by the Troika": BBG





Greece must not: "unilaterally implement any measures that reverse the budgetary targets or recovery or jeopardize the financial stability"







Morning tweets.....







Troika Not Happy with Initial Draft of Greek Reforms; Eurogroup Still in the Mix: As most readers may know, Gr...




Greek bank NPLs are now at the level (>40%) where Cyprus was when it underwent a "bail-in"







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Why Grexit remains an option for Berlin (despite German taxpayers' exposure to Greece standing at €65bn)











German MPs could vote on Greek reform proposals in Bundestag as early as Friday Feb 27th (H/T )









German FinMin spox Martin Jaeger: finance ministers to discuss Greek reforon on telephone tomorrow. (H/T







MT Am reliably informed that Greek reform list is 5 pages, including labour reform w ILO, & minimum wage (which will irk Berlin)




govt spox says will not cut pensions, red lines continue to apply; minimum wage to be raised 'gradually'.










Surprise surprise EU commission now denying receiving list...









Greece's reform list is said to have arrived in Brussels and been received as the market awaits any formal comments from the EU







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We have not received a list. Deadline is close of business tonight. We are in talks with authorities.











“Schäuble and his allies got rather little what they could not have had already 11 February”

















News from elsewhere in Europe , earnings items , oil ......







NY CRUDE EXTENDS DROP, FALLS $2.04 OR 4% TO $48.77/BBL









The war must go on: Kiev says cannot withdraw heavy weapons as attacks persist







With Ukraine currency and economy imploding: GONTAREVA:UKRAINE BANS BANKS FROM GIVING CLIENT LOANS TO BUY FX








"Let's not beat around the bush - Ukraine is facing economic/financial meltdown." ://on.ft.com/1w1JQ73










HSBC shareholders LOVING the news today... Down by the most in over 3 years.








CRIKEY. Portuguese 10-year bond yield drops below US Treasuries...