Monday, February 9, 2015

Greece Updates - February 9 - 10 , 2015 - Following the Tsipras Speech to the Greek Parliament ( not a whiff of backing down to Troika ) , examination of post - mortems , news / views data for Greece - all ahead of Wednesday key EuroGroup meeting of February 9 , 2015.....

Surveying the field m the day after the Tsipras speech , before the vote of confidence and prior to Wednesday EuroGroup !

Tweets.....



2/10/15......

Evening.....





-- Greek gov't receives vote of confidence.




IMF thinks better use current program to conclude review & receive available tranches as talks w Eurozone will drag on. ~





My baseline scenario now for the Greek issue is no agreement with the Eurozone and eventually a Greek referendum.





-Independent Greeks coalition wins confidence vote with 162 (vs 137) votes. No defections from coalition, no extra votes won




: We are not seeking to negotiate the MoUs, but instead a loan agreement





: I want to assure the Greek people that our policies will be implemented in full, optimistic solution will be found







: Decisions in coming days will determine whether Europe can remain united






Morning.....

New INSA/Focus poll: 48% of Germans in favour of , 29% against and 23% undecided. (1/2)


New INSA/Focus poll: 44% of Germans convinced Greece will get further debt relief. 39% think it won't come to that (2/2).






EU targets interim Greek debt deal by next week




Energy minister challenges privatizations




Energy Minister Panayiotis Lafazanis: will not be blackmailed by EU, Germany






JUNCKER-TSIPRAS CALL PLANNED AT GREEK REQUEST: EU OFFICIAL








Trial Balloon popped: EUROPEAN COMMISSION SAYS THERE IS NO FORMAL PROPOSAL FOR GREECE BUT TALKS ARE INTENSIVE





jumps on rumours of 6 month extension for , then receeds again as much the same as previous rumours















Europe To Propose 6 Month Extension After Greece Warns It May Get Funds From Russia Or China








US defends unruly Greece as Europe steps up 'Grexit' threats -





Obama, Treasury Push Back Against Troika Grexit Threats; Bernie Sanders Presses for Fed to Prod ECB




COMMISSION TO PROPOSE 6 MONTH EXTENSION FOR GREECE; REORGANIZATION OF TROIKA --COMMISSION TO SUGGEST LOWER PRIM SURPLUS 1.5-2% OF GDP-SOURCE





Lafazanis: "A total end to memoranda and to troika. We will fully and absolutely apply every aspect of our radical programme."






's Praet: Emergency Liquidity Assistance (ELA) is only for very short needs. Says it's essential that is 'bridge to somewhere.'





Euro drops below $1.13 as war on words between and the escalates.






As Mexico's former chief debt negotiator, few are better qualified than 's Gurrìa to advise the Greek on debt cut











A sense of optimism in Athens as OECD's Gurría visits town to discuss reform pkge (& debt restructuring?). Parliament to vote on govt 2nite.




Anti-austerity rallies to be held in Greek cities on Wednesday as convenes to discuss







Joining the Ruble? Greek defense minister says can go elsewhere for help if Germany remains rigid.













Head of Lazard Paris says troika 'all wrong' on Greece

****

Pigasse also repeated that a restructuring of Greek debt was inevitable and that the country's total debt load should be reduced by some 100 billion euros ($113.28 billion) to allow it to return to an "acceptable" debt to GDP ratio.








2/9/15.....




Athens prepares a compromise before Eurogroup






British PM holds meeting with FinMin, BoE on Grexit risk





German Chancellor says will wait for to make sustainable proposal and then talk about it, Reuters reports





wants new deal with EU lenders to begin Sept 1, FinMin source says






Varoufakis condemns bailouts, confirms plans for EU bridge pact







rejects Greek war reparations call.







's 5yr default probability - seen by markets - jump to almost 80% on rising risk.







wants upcoming debt to be paid w/ Central Bank bond profits out of SMP.





Morgan Stanley says would send EURUSD crashing To 0.90. (via )







Greek FinMin Varoufakis: accepts about 70% of reforms outlined in current bailout. (DJ)





German FinMin Schäuble says I am ready to help but it's okay if it's not wanted.





German FinMin Schäuble: We didn't force anyone into a programme.







German FinMin Schäuble at G20 meeting in Istanbul: Says he hasn't yet understand how new Greek govt will deal w/ it's problems.





Greek exit will be hard to stop as Retail deposits shrink and Target2 liabilities jump.


























's 3yr yields jump to highest since 2012 as Juncker seems to dismiss Tsipras plan.

***

(Reuters) - European Commission President Jean-Claude Juncker on Monday advised Greece's new government not to assume the euro zone would simply accept all the promises its leftist leader Alexis Tsipras made to Greek voters about scrapping economic reforms.

***













Greek trade deficit widens by 26.9 pct in December








Judging by the confusion out there, SYRIZA's masterplan of bamboozling everyone into submission is progressing very nicely indeed





"I wouldn't know how markets will handle it w/out a programme, but maybe he knows better." on








Greek industrial production drops 3.8 pct in Dec for 10th negative reading of 2014





My thoughts on how Greece can find 21 billion euros to avoid default this year:





We want "to service its debt, which is now over 180% of GDP. It’s impossible to service as long as our partners insist on austerity”-Tsipras








EU Urges Tsipras to Rein In His Ambitions for Rollback - Bloomberg Business









Germany's Schaeuble frets about market impact if Greece drops bailout suggests poor negotiating contingency planning








Is Syriza About to Score a Tactical Win Against the Troika? by





Greece: The Troika program economic forecasts versus the actual outcomes (via ).







Varoufakis Blasts ECB "Has Lost Control Of Monetary Policy" As Germany Tells Greece: "There Is No Way Out"








FinMin Varoufakis condemns bailouts, confirms plans for EU bridge pact

















's Faymann says he'd support negotiations over technical credit conditions & room to maneuver to exit crisis








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