Friday, June 12, 2015

Economic News , Data and Views ( June 12 , 2015 ) Greece Updates of the Morning -- ( Economic Data , Treasury Bill rollover data and State of Play in the ongoing Creditor Talks - clear as mud of course . Mexican Stand off continues - best way to describe the situation ) .... Broader Europe - Economic Data of the Data , Euro in focus after Merkel comments , Bund recovering somewhat today .....




Two officials: Greece was given 24h yesterday to present proposal so to meet 18 June deadline. Greek didn't so far

This is NOT looking good. At. All.


Fearful starts countdown on funding lifeline /via | Tic toc, tic toc...

‘Grexit’ Would Lead to Economic Chaos: Unicredit's Nielsen /via

Greek talks await 'serious proposals' from Athens, says Djisselbloem

auctions €1 bln 3-month T-Bills on Jun 17. Total roll-over amount at €1.6 bln. Previous yield at 2.7%.

Incl non-competitive bids, rolled over €1.6 bln 3-mon T-Bills at 2.7% and €2 bln 6-mon at 2.97%.


Apr Import Price Index in Industry -19.2% YoY and +1.4% MoM, 12-month trailing -6.6% (ELSTAT)

Building Activity (permits) +19.1% in Mar, +7.9% in 3-month and -11.8% over the trailing 12 months (ELSTAT).

gov't sources deny report re arrival of Brussels Group members in Athens (via )

The ball is (again) in Athens court.

was told to stop fighting creditors’ demands and sign a deal that will avert a default


* German finance Min spokesman says it's inconceivable to think there will be a solution for Greece without the IMF involved - RTRS



Dijsselbloem: Will not rush into Greek deal; deal only possible if substance is correct. must be ready for 'difficult measures' ~BBG

New poll shows only 23% of SPD sympathisers think the EU should make further concessions to . Quite low.

Broader Europe , ECB  ....

UK output revisions point to healthier economy. 2014 growth revised up

Euro area industry grows less than expected in April, but underlying trend remains firm


Euro area industrial production +0.1% in Apr 15 over Mar 15, +0.8% over Apr 14

Spanish consumer prices fall for 11th month running in May. However, rate of slows from 0.6% in April to 0.2%

Economics next week: announcement, minutes, consumer price numbers for , and + much more:

ECB "said" to cap ELA if Greece defaults - another story brought to you by "persons familiar with the discussions".

Merkel reignites ‘currency war’ worries.

drops <$1.12 as Merkel warns against strong Euro. Merkel says too strong € makes reform harder in Ireland & Spain

ZDF Poll finds 51% of Germans want Greece out of Eurozone vs 55% in favor of keeping Greece in Euro before Syriza win

Volatile times for Greek banks. FTSE Athex Banks Index drops 8% after yday's rally on rising concerns.

Bunds continue to regain ground. 10yr yields drop to 0.86%