Sunday, June 28, 2015

Economic News , Data And Views ( June 28 , 2015 ) - Greece Focus ( BREAKING NEWS -------BBC Reports Yanis Varoufakis Says Greek Govt will be looking overnight at imposing capital controls & closing banks on Monday ( still awaiting additional confirmation at time of posting - will be updated as necessary ) ....... ORIGINAL LEAD -- After Saturday's failed EWG Meeting between Greece & Creditor Groups , as well as the Greece Parliament vote to call a Referendum on July 5th upon Creditors last proposal - today's initial focus is on what the ECB may do regarding ELA for Greece's Banks - rumors abounding ahead of the decision ! Meanwhile , June 30th is in two days and at that point , the extension to the current program for Greece ends )


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Greece.....




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. tells : Greek Govt will be looking overnight at imposing capital controls & closing banks on Monday.







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ECB can restrict ELA if bank "considers" it interferes with "objectives+tasks of the Eurosystem" ie broad discretion









Worth having this in mind re and procedure.













Another leak







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Eurosystem source tells CNBC ECB considering not extending ELA to Greece -- not withdrawing as some had reported:










For every 10% increase in haircut on security offered by Greek banks, ELA shrinks by around €12bn, I'm told






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Will End ELA for Greek Banks Later Sunday, BBC Says.









Greece will probably have to "announce a bank holiday on Monday, pending the introduction of capital controls", a source told to BBC







Greece expects ELA for banks to continue, Minister says.







’s Nowotny Sees Missing June 30 Payment to IMF, BBG reports citing ORF









Just a reminder for everyone. Default does not mean Grexit.






Greek banks hold ~€27bn of unpledged ELA collateral at current level of haircuts. ECB could impose larger haircuts.












No one was more surprised about Greek PM Tsipras calling a referendum than his team of negotiators in Brussels.







Draghi can’t avoid spotlight w/ Greek destiny in hands. His power over Greece lies in ELA











Greek parl gives green light to Tspiras' bailout referendum w/ deputies from Golden Dawn approve motion, ND against.








G-7 TO HOLD CONFERENCE CALL ON SUNDAY - HANDELSBLATT - CITES EURO REGION OFFICIAL ON G-7 CONFERENCE CALL
























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Pres Pavlopoulos sent an indirect message for YES vote next Sunday









Pr.Pavlopoulos: Our people will prove that at crucial times takes decisions with great maturity – Clearly he will sign the decree









It seems that the Presidential decree regarding next Sunday's referendum has been signed it will be published shortly