Tweets....
Evening items...
Its official. We just defaulted on our IMF loan.
Holger Zschaepitz
RBS estimates minimum cost of #Grexit at around €239bn, assuming new Greek currency would be worth 40% less than Euro
fred walton retweeted
Pablo Rodríguez
Greek Deputy PM Dragasakis tells ERT he advised Tsipras to accept lenders' offer & suggests referendum could be called off #Greece #euro
Conditionality. #Greece
Nick Malkoutzis retweeted
Eleni Varvitsiotis
In order for the short extension 2 have taken place last deadline was last #Eurogroup.Now have 2follow procedures.Application for a new loan
fred walton retweeted
Manos Giakoumis
fred walton retweeted
*Russian Market
Greece submitted a request to postpone a €1.5b payment due today to IMF until November - Greek Deputy prime minister Yannis Dragasakis.
fred walton retweeted
Live Squawk
Greek Govt told EG it could either recommend Yes vote, or call off referendum if new lending can be agreed --Rtrs sources
fred walton retweeted
lampros.kontogeorgos
Greece's #Dragasakis tone *completely* different compared to Tsipras yesterday. Says he wants solution, no blame games
fred walton retweeted
nero
fred walton retweeted
Derek Gatopoulos 
fred walton retweeted
German FinMin Schaeuble Told Conservative Lawmakers That He’d Advise The ECB Not To Hike ELA - Sources $EURUSD $MACRO
fred walton retweeted
Jonathan Algar
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Kathimerini English
Merkel says won't discuss new Greek request before referendum: lawmaker http://dlvr.it/BN7CVg
fred walton retweeted
Peter Spiegel
fred walton retweeted
Until 2-yr program is agreed & in force, #Greece requests extension of curr program 4 a short period so technical default is not triggered.
fred walton retweeted
Lena Komileva
#Syriza’s request for 3rd bailout on the eve of IMF default shows that default (& #Grexit) is a negotiation strategy
fred walton retweeted
DAILY SABAH
BREAKING - Greece asks for 2-year bailout program from European Stability Mechanism to cover financial needs with restructuring of debt
fred walton retweeted
Efthimia Efthimiou
Tsakalotos discusses post-referendum plans for Banks.
fred walton retweeted
Fabrizio Goria
* Greece's chief negotiators says that accepting proposals of institutions would not have turned economy around - RTRS
Morning items
Greece - the last day before the end of the extension ....
CREDITORS HAVE ASKED FOR PENSION CUTS, TSAKALOTOS SAYS
Last minute deal in offering, required move by @Tsipras by midnight last night. Nothing. He must accept Fri proposals & campaign for Yes
At midday @EU_Commission presser, confirmation that @JunckerEU spoke to @atsipras last night to get him to u-turn. But wanted it by midnight
Peak blame game: EU SAYS TSIPRAS CALLED JUNCKER LAST NIGHT
Greek gvt official says there are "initiatives" continuing on negotiations between athens and EU for a last-minute deal on bailout - RTRS
* Greek banks may be considered solvent for several days after any state default -german member of ECB banks supervisory board - RTRS
TRADEWEB BLOCKS GREEK BOND TRADING AT FCA REQUEST
The Greek Analyst retweeted
Dimitra Kessenides
Greece rejects pleas to change course http://ift.tt/1RPf8IF
Greek Ministry asks pension funds to give reserves to BoG so state can pay beneficiaries of other funds. Gov seeks bank loan. @RoulaSalourou
Schäuble angered by Juncker’s chief of staff’s interference in handling of Greek crisis http://openeurope.org.uk/daily-shakeup/tsipras-hints-at-resignation-if-greek-voters-back-creditors-proposal-in-referendum/#section-3 …
Δικαιολογία για το bail-in ψάχνει ο αλήτης....
FT's Spiegel says Greek official denied that Tsipras is re-considering Juncker offer
After elliptical response to last-ditch @JunckerEU early today, Greek govt said to be preparing counter-proposal in bid to reach a deal.
EU source:@atsipras would have to accept proposal of 3 institutions published on Sunday&campaign yes.This could lead to another EG etc.
Ian Traynor retweeted
Rolf-Dieter Krause
#Greece EU's last minute-offer impossible in Germany due to need of parlam. decision, Berlin sources say. If Tsipras would ever agree...
Ian Traynor retweeted
Nick Malkoutzis
Gov't re-examining Juncker's last-minute proposal, sources tell @kathimerini_gr Some gov't members believe #Greece should accept. #euro
Mehreen retweeted
Vima newspaper reports Tsipras under pressure from some ministers, including Deputy PM Dragasakis to accept Juncker deal #Greece #euro
Andrew Lilico retweeted
Sr #Greece off'l denies to me that @atsipras reconsidering 11th-hr @JunckerEU offer. But Athens may propose something else this afternoon
Andrew Lilico retweeted
Chris Giles
@SpiegelPeter @atsipras @JunckerEU Would be surprising if #Greece didn't offer something. In blame game, you must always appear constructive
Jonathan Algar retweeted
econhedge
@fwred prob just spin allowing Tspiras to say to Greeks;i tried one last time but they insist on keeping us beneath neoliberal jackboot etc
So much for Juncker being a "friend" of the Greeks
Germany's "velvet divorce" proponents growing louder. CSU's Soeder: "orderly, judicious and considered exit plan best path for both sides"
Default has finally arrived for Greece http://www.telegraph.co.uk/finance/economics/11707250/Greek-crisis-live-IMF-defaut-day.html …
Greek FinMin says week's pension withdrawal limit 120 euros, deposits safe before & after referendum on creditor proposal targeting pensions
Spanish PM Rajoy: If 'No' wins, "there will be no alternative" for #Greece but to leave the euro. (@cope_es)
Italian PM Renzi says not acceptable that "some Greek ship owners can continue not to pay tax thanks to our money". (@sole24ore) #Greece
Italian PM Renzi: "We haven't scrapped early retirements for Italians so that the Greeks could keep theirs". #Greece (@sole24ore)
Renzi: "The Greeks don't have to say whether they love their PM more than Juncker, but whether they want to stay in € or not". #Greece
Renzi: "One thing is to ask for flexibility. Another is to think you're the cleverest one who doesn't respect the rules". #Greece
Italian PM Renzi: The 'No' from Tsipras to the European Commission's latest proposal was "uselessly obstinate". (@sole24ore) #Greece
French FinMin Sapin: Greek referendum will have consequences. 'No' vote on Sun means real risks for #Greece. 'Yes' means talks will resume.
#Greece's default a done deal? Default probability derived from CDS jumped to 90% on Mon from 71% on Jun26. (via BBG)
Manos Giakoumis retweeted
MacroPolis
#Greece May Producer Price Index -4.6% YoY and +0.7% MoM. 12-month trailing index -3.1% (ELSTAT). #economy
Manos Giakoumis retweeted
#Greece Apr Retail Turnover -3.3% YoY from rev -0.6% in Mar. Retail Volume -1.9% YoY in Apr from rev +1% in Mar (ELSTAT). #economy
Broader Europe - Data and News....
ONS
0.4% rise in #GDP in Q1 2015, revised up 0.1 percentage points from previous estimate http://ow.ly/OYiRs
Markit Economics retweeted
EU_Eurostat
Euro area flash inflation: Food +1.2%, Services +1.0%, Other goods +0.4%, Energy -5.1% in June 2015 #Eurostat http://bit.ly/1g5Bh9Z
Unemployment rate across Germany unchanged in June at 6.4%
Italian jobless rate unchanged at 12.4% in May
Deutsche Bank: A Grexit isn't as big of a deal for the #eurozone as everyone thinks. http://read.bi/1GJAkcX
Peripheral spreads on the rise again. 10yr Italian yield premium over Bunds jumps to 165bps.
Periphery spreads widen on Greek default angst. While 10y German bund yields drop 4bps, 10y Italian yields rise 5bps
#Germany's Dax extends losses. Now trades below 11k.
Bund Future opens higher to the day. 10y German Bund yields drop to 0.76%.
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