Tuesday, May 26, 2015

Economic News and Views ( May 26 , 2015 ) - Spain's Regional and Local Election Still Reverberates On Tuesday , Italian Regional Election loom , Euro falls below 1.09 on Spain's Election and Greece Concerns , Various voices expressing thoughts / Concerns on Greece Situation


Broader Europe ....





SENIOR POPULAR PARTY FIGURES DISAGREE: First Minister of Castilla y León says Rajoy should take long look in mirror.







RAJOY ANSWERS QUESTIONS…SAYS HE’S GREAT: Mariano Rajoy held an extraordinary press conference on Monday evening…








El Mundo chooses the right photo to sum up Rajoy reaction to PP election results: "not going to make any changes".




Spain ushers in new era of political pact making. But are traditional parties ready to change?







EU’s first coup d’ etat: Merkel & Hollande plot to “reform” the Eurozone without change of…







Poll: Majority of Britons, Germans and French unwilling to pay off ’s debt








traders shed last bit of optimism from Greek Feb deal. Single currency drops below $1.09







Dollar Index DXY looks as if the USD is back in vogue this week.







* German official says expects IMF decision on inclusion of renminbi in IMF currency basket in autumn - RTRS






* Imf: believe China should aim to achieve an effectively floating exchange rate within 2-3 years - RTRS





* Ecb's Noyer says current low interest rates carry risks for insurance sector by hitting investment returns - RTRS






* Ecb's Noyer says low interest rates and market volatility merit special attention for banks - RTRS





Regional vote won't hit govt says Renzi: No matter what the outcome as seven regions go to the ballot box








Greece......






A Parallel Currency for Greece: Part I: A review of the pros and cons of various parallel currency options for...







A Parallel Currency for Greece: Part II: Yves here. I’m quite interested in reader reactions to this scheme. M...







Brussels Group talks on continue today. Tsipras has reportedly instructed Greek negotiators to close pending issues asap.





Merkel rules out Grexit, while Schäuble sees Grexit as a legit option ~Die Welt













Since 2010 Greece sees 28 bill euros in spend cuts/alot for 179 bill euro economy. Proportional austerity in US would = $2.6 trill







GREECE PROPOSES 15% TAX RATE FOR DEPOSITS ABROAD: VAROUFAKIS









Greece Optimistic About Deal, U.S. Intervene in Negotiations with IMF








Greek FinMin Varoufakis: We Will Make IMF Payment in June if There Is a Deal









EU’s Moscovici: Not There Yet On Greece Deal, Need More Effort To Reach Agreement - Says There Is No Plan B For Greece





ECB'S NOYER: BIGGEST RISK FOR GREEK EXIT IS ON GREECE ITSELF - MNI






GERMAN OFFICIAL SAYS NOT AWARE OF ANY PLANS FOR SPECIAL MEETING OF EUROGROUP IN EARLY JUNE






ECB'S VISCO - GREEK CRISIS FUELLING GRAVE TENSIONS THAT COULD PROVE DESTABLIZING




Greek 2yr yields jump to almost 25% on more Greek noise. ’s Hansson says agreement on ‘not in sight’ yet.












returns to talks with Varoufakis blaming creditors.









Court of Audit may rule unconstitutional the solidarity levy on publc sector pensions w/ no retroactive impact (via )





PM & Deputy PM met with Prem Watsa, CEO of Fairfax controlling 20% of .







Institutions see fiscal gap at ~€2 bln, gov't <€1 bln, according to gov't sources (via SKAI TV).






travel receipts up 13.3 pct in March as tourist arrivals increase by 34.4 pct.







holds back spending, rakes in one-off revenues for 2.1 bln budget prim surplus at end-April.