Friday, May 15, 2015

Economic News , Data and Views ( May 15 , 2015 ) - For Broader Europe , Italy , Spain , UK , Russia , Bund/ Bonds , Cyprus in focus ..... Greece substantive block of information ( economic , political , financial travails , creditor talks and more )


Broader Europe....

Renzi says 'portion' of pension money to be repaid: Padoan to outline measures at cabinet Monday

Transport strike on Friday May 15: Rome to be affected, Milan Expo services to run

Catalan nationalist parties outraged over order to take down pro-independence flags

Spain’s €1,000-a-month generation, one decade on: the 'mileuristas' have got used to low wages

Ruble Up Against U.S. Dollar, Despite Central Bank Forex Purchases


meets for talks on further devolution for Scotland:

Reprieve or reversal? Bond markets rise, yields fall across the . 10yr Bund yields drop to 0.65%.

& had highest proportion of underemployed workers (part-timers wishing to work more) in EU. (via BBG)

'The is a complete disaster and Britain needs to leave the EU,' Capital Economic's Bootle says.

Buba's Weidmann says emergency funding for 's banks broke taboo of financing govt's.



How Much Gold Does Greece Have?

Greek PM Tsipras Takes Negotiation with Creditors Upon Himself

4-month cen gov prim cash surplus at €1.05 bln from €1.33 bln last year, Cash deficit at €1.49 bln from €1.27 bln. (BoG).

Including non-competitive bids of €262.5 mln, rolled over €1.4 bln 3-mon T-Bills at 2.7% this week.

Where has bank deposit withdrawals gone?

Fitch is due to publish today its scheduled credit rating review on .

FT: State pension funds in Greece posted a €300m deficit in Q1 vs. a surplus of €800m in Q1 2014

IMF pirouette carries a cost: if member "holds fewer SDRs than allocated, it pays interest on the shortfall"

And don’t forget salaries and pensions (around €1.6bln per month)

plus grants to social security of €1.3 bln, with a large part of it related to payment of private sector pensions.

Is Greece's economic recovery now in ruins?

DepPM Dragasakis says doesn't want to comment on Syriza party mtng yday, says govt & party shld work together

Alt FinMin Mardas sues Bild over report that he transferred €80k abroad in March. Mardas insists no transfers since he joined gov't

Deputy PM Dragasakis got rough ride at last night's meeting of SYRIZA pol secretariat, which says lenders' demands "not acceptable"

IMF denies that it said it's working on a Plan B for Greece, not that it is: "our job is to look at different scenarios" for all countries