Monday, June 22, 2015

Economic News and Views ( June 22 , 2015 ) -- Greece Updates ( Ground Hog Monday EWG has Occurred , ELA has been increased for GR Banks for 3 time in 5 day , No Deal Reached at EWG - with full state of play set forth for your consideration , State of Banks in question in the days ahead as bank jog continues , Economic data for Greece , " quiet capital controls " already in place with unofficial limits on walk in withdrawals , Evening Leaders meeting reduced to " discussion " )


Tweets.....


















RT : Eurozone summit "is on", I'm told. Frank political discussion to accelerate technical talks.



















Greece says now up to lenders to move on an agreement












Greek primary cash surplus at 1.07 billion at end-May on lower expenditure









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Greek banks could be forced to close for days, if no deal today in Brussels, chairman of Eurobank Karamouzis tells me







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no decision expected at summit - top source. just ultimatum to . take or leave it and come back with better proposal




Ground Hog Monday







More of the same...








Rehash *GREEK BANKING SYSTEM SECURE WITH ECB COOPERATION: SPOKESMAN








UNLIKELY DEAL REACHED MON NEXT MILESTONE LIKELY WED - SOURCES - MNI








SOME DETAILS IN GREECE PROPOSAL 'CONFUSING' - SOURCES - MNI










IMF LESS OPTIMISTIC THAN OTHER INSTITUTIONS - SOURCES - MNI







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A commercial banker said about €400m had been withdrawn via ATMs over the weekend (via ) -







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There isn't a visible bank run in Greece - no queues. But money is leaving the banks, the ECB has increased support 3 times in 5 days.







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Very important statement by Nowotny. patience has limits and ELA is Damocles sword.







There are/aren't new Greek proposals, they do/don't form basis for a deal & there is/isn't a point to tonight's summit. All clear?









oh geez. ireland's noonan says eurogroup perhaps again on thur. 3rd in a week. this is beating 2011/12








's Stubb on expectations for a Greek deal today: Looks like a lot of air miles will have been wasted. (BBG)










's Merkel says there is still time to take definitive decisions on later this week.









's Merkel says if institutions have not given recommendation, summit on Monday will just be discussion forum.








New Greek bailout proposals see savings of 0.4% of GDP from pensions in 2015. (DJ)










approves ELA increase of around €1.3bn to €87.2bn for , MNI reports.








is offering to gradually rise retirement age to 67. To have 23% main VAT rate, 13% for energy & food, 6% for books, medicine. (RTRS)






Euro falls to day low $1.1311 as has sent wrong documents to monitors.












My *guess* is reason there was so much confusion about ELA amount on Friday is because two tranches were approved














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3 sr officials tell me told institutions they sent wrong document at midnight. Have promised revised version







Bank of Greece warned bankers of 'difficult day' if no debt deal









GERMAN POLITICIANS SEEK TO STOP ELA FOR GREEK BANKS: SPIEGEL







Greece: Troika’s assumptions were too optimistic. Should we expect different from extension? - graph







"Greece, this is line in the sand"..."OK this is last line in the sand"..."THIS is DEFINITELY last line in the sand"