Thursday, June 18, 2015

Economic News , Data and Views ( June 18 , 2015 ) Greece Updates ( EWG Meeting Just Getting Underway , IMF Says GR Default Will Occur July 1st - IMF Not Applying Its Own Rules With GR ? On Tsipras Visit to Moscow - GR Denies Asking For Financial Assistance From Russia ..... General State Of Play On GR - Economy , State Of Creditor Talks , End Of Month Scenarios ) Broader Europe in Focus ( HETA Has 7 BN Capital Hole , Spanish Public Debt Crosses One Trillion , Podemos Comments On Germany's Role In EU , Norway Central Bank Cuts Key Rate To 1% , TLTRO News - 74 BN Take By Banks in 4th Offering , Greece May Be Ready To Sign Preliminary Agreement With Russia for Greek Stream ) .....



No 'plan B' for a Greek default, says head of eurozone's bailout fund, Greece's biggest creditor



says he'll be presenting greek govt 'ideas'. not the case yesterday

* Eurogroup head Dijsselbloem says: do not expect a lot of progress today - RTRS

* Eurogroup head Dijsselbloem says: it is in greeks interest to bring back trust - RTRS

pretty clear I think...

Boom --> * Imf's lagarde: greece's June 30 payment to IMF is definitive, there is no grace period or possibility to delay - RTRS

Just to be clear, here the *normal* IMF procedure in case of a missed payment. But Greece is unique, right?

 Top news story

Exclusive: Greece has not asked Russian finance ministry for aid - deputy minister: ST PETERSBURG, Russia (Reu...


*GABRIEL SAYS AID FOR GREECE WOULD CONTINUE AFTER GREXIT: WIWO // Here he is, promising own and foreign taxpayer money for illegal bailouts.

Very difficult situation, have to stick to conditionality.Ball is on the court says Finish Fin Min

Negotiator Tsakalotos: will consult Greeks if can't get 'feasible plan'. Soc sec min Stratoulis:Grexit wd be managable after few hard months

As Eurogroup prepares to convene, EC and ECB working on draft statement on debt relief for Greece, reports.


5-mon budget prim surplus at €1.51bln, €2.06bln above target. Budget deficit at €1.4bln, €2.08bln better than target (MoF)

Latest budget figs don't make pretty reading. Gov't insists most €964 mln revenue shortfall can be recovered

2 foreign brokers stopped trading activity in the Athens Stock Exchange on capital controls concerns (via & ).

Greek government YTD spending on interest payments surges 7.7% Y/Y through May to €2.91bn

Broader Europe...

SNB President Jordan tells me "It's still a big risk to be long the franc".. Are you listening?

Robust UK sales growth adds to rate hike pressure. Find out more here:

UK sales up 0.2% m/m in May (TR consensus: 0.0%, +0.9% in April)

's Podemos leader says 's role in is outsized and misguided. 'I’m sick of it.'

Bad bank Heta has €7 billion capital hole << Morning!

Spanish public debt rose 4.4% Y/Y in April to €1.03 trillion - Bank of Spain


Banks took €74n, or ~23% of their potential TLTRO allowances (stood at €320bn in April, will increase further).



to sign prelim agreement w/ for Gas pipeline. Agreement to be signed during Greek PM's visit in St. Petersburg. (DJ)