Wednesday, May 13, 2015

Economic News , Data and views ( May 13 , 2015 ) - Morning data splash from Europe ( GDP Q1 Numbers from Germany disappoint / Italy and France surprise , Belgian Cash deficit widens , EZ Industrial Production data declines ) ....Several nations opt out of EU Refugee resettlement plan ( UK / Ireland and Denmark ) .... Greece in focus ( Political situation , economic updates , state of play in creditor talks ) ....... Bonds / bunds and ECB items of note


Tweets....





UK, Ireland & Denmark to opt out of EU's migrant resettlement scheme








Fin Min Varoufakis: I can't guarantee that the govt will be in power until January







Barclays cuts German 2015 GDP forecasts from 1.8% (consensus) to 1.5% after dismal Q1 numbers.















Two days after Germany's Schaeuble calls Greece's bluff on referendum idea, key minister says no such plan on agenda.









GREECE'S CREDITORS SAID TO SEEK EU3 BILLION IN BUDGET CUTS






GREECE, CREDITORS SAID TO BE FAR APART ON LABOR, PENSION REFORM






is becoming more and more expensive by the day. 's Coeure says ECB overall exposure to stands at €115bn as of yesterday.














*BELGIAN FEDERAL CASH DEFICIT WIDENS TO EU10.5B AFTER 4 MONTHS // Almost 2bn moar compared to last yr. Because, ya know, EVIL EVIL austerity





| MAR INDUSTRIAL PRODUCTION M/M: -0.3% V 0.0%E; Y/Y: 1.8% V 1.9%E







beats. 1Q GDP grew by 0.3% On Quarter vs 0.2% expected. Biggest expansion since 2011.










: GDP grew by 0.6% in Q1 2015 compared to Q4 2014. Imports up 2.3%, exports up 0.9%. ()












Bond rout has come to a pause. 10yr Bund yields a tad higher after 's Apr CPI came in higher than expected.






disappoints. Q1 preliminary GDP comes at 0.3% QoQ lower than expected 0.5%.








Chart: ECB (Eurosystem) balance sheet -