Saturday, May 16, 2015

Economic News , Data and Views - May 16 , 2015 - Broader Europe in focus ( Italy , Spain ) ..... Greece round up of items of note - IMF warns of Greece default June 5th w/o deal ....Asia in focus ( China , India , Japan in focus )


Finland current account remained in deficit in March despite some improvement in external trade.

Italy's credit rating may rise with Renzi reforms, says S&P: Agency warns pension ruling threatens budget targets

Very perceptive op-ed by former Italian PM on and the future of UK-EU relations.

: The definition of collective redundancy under Spanish law is contrary to EU law


FN M Spokesman denies locked drachma exchange rate deal for leaving eurozone ...

A Blueprint for Greece’s Recovery within a Consolidating Europe – EBS2015 Keynote, Brussels 7th May 2015

Tsipras wrote to Lagarde to say couldn't pay IMF on May 12, reports Sunday's . Plan changed after OK to use SDR acc

In the first quarter of 2015, Greek government payment arrears to the private sector rose 24% to €3.74bn

Their GGBs are managed by Bank of Greece's Common Capital fund. They plan to ask BoG to 'liquidate' 100ml frm their stake at the fund

Leaked confidential memo on . /via

In Greek, on the IMF “June default” leak:

IMF memo warns of Greek default in June without deal. Reveals differences with EU. Full text

Industrialists from SEV (Federation of Hellenic Enterprises) submit 82 proposals for growth via

Aid Accord Looks Elusive as Tsipras Sticks to Red Lines via

memo posted by : tells staff no "quick & dirty" sign-off. Withholding its €3.6bn?

And seemingly "progress..has triggered a major row behind the scenes between the EU and the IMF."

with 'no quick & dirty' aren't they referring to a new programme rather than interim staff agreement ?

No, I don't think so. "Review" is a clear reference to 5th programme review, which is the current bailout

Tsipras speech at Economist event pretty much a message to lenders saying "We've conceded as much ground as we can, over to you"

At Economist conference in Athens, Tsipras says there is "no way" Greek gov't will back down on wages and pensions

Greek 5yr default probability remains below 80% as Fitch affirms at 'CCC'

crisis hits a critical impasse. Every1 recognizes 2012 MoU fiscal targets totally unrealistic, Eurozone willing to revise, IMF can't


’s Yuan may draw $1trn on getting reserve status.

Tepco Begins Removing Cover From Destroyed Fukushima Reactor Just As Local Farmers Plant Rice

Business Deals Signed During PM Modi's China Visit: Indian and Chinese companies signed deals worth $22 billio...

China foreign ministry spokesman says "freedom of navigation" does not extend to military vessels in South China Sea