Friday, June 5, 2015

Economic News , Data and Views ( June 5 , 2015 ) - Morning Roundup .... Greece Highlights ( State of play - creditor talks and associated matters , IMF June payments to be bundled , Polls / Election / Referendum grumblings , GR bond yields taking fright ) .... Broader Europe ( Bunds volatility , GDP prospects for Germany raised , Spain and Italy items of note , Brent in focus , In/Out Questions - Spain , Italy , Germany and France )


Tweets....

Greece...


Correct title would be: Compromise with lenders for the first time favoured by less than 50% of Greeks















Prime Minister Alexis to brief MPs on progress of negotiations at 6 p.m.




Credit market is virtually dead due to the uncertainty










Given a reasonable deal (ie no pension cuts) dissent at SYRIZA against Tsipras will be limited to fringe elements




but there will not be a deal without cuts to "supplementary" pensions





Finance Ministry officials put Germany's WWII debt at 280 to 340 bln




IMF payment put off as lenders wait for new proposals



  retweeted

| RTRS - GREEK DEPUTY MINISTER AND SYRIZA HARDLINER STRATOULIS SAYS GOVERNMENT MAY GO TO SNAP POLLS IF LENDERS DO NOT SOFTEN





Greece's debt restructuring plan is a non-starter. But it can probably get longer interest rate holiday and longer repayment period



  retweeted

The primary surplus discussion is misleading. On substantive points, Greece and creditors are as far apart as ever.






Alco poll for Newsit.gr
SYRIZA 31.3% ND 20.4 Potami 5.2 G Dawn 4.8 KKE 4.5 PASOK 3.5 Ind Greeks 3.2 Undecided 13.4





Possibly incompatible.
*STATHAKIS SAYS GREEK GOVT HAS MANDATE TO GET BETTER DEAL
*STATHAKIS: OUR GOVT HAS A MANDATE TO REMAIN IN EURO



diplo says member of Euro Working Group did not know of payment delay on yesterday's conference call





does not have the political cojones to push for the debt relief and then is pushed into chasing its tail through more austerity


's 2y yields jump as Tsipras raises stakes in Greek showdown w/ deferral of IMF payment








Broader Europe.....





German Bundesbank raises forecast for 2015 to 1.7% (vs 1.0% in Dec), 1.8% for 2016 (vs 1.6% in Dec) and forecasts 1.5% growth for 2017




Volatility? Get used to it! The 18bps trading range on 10yr Bunds on Thu was 4times the daily median in the past year










is managable as German banks have reduced their Greek exposure to €2.4bn, Buba's Dombret says in interview w/ Bloomberg.





German Chancellor Merkel has sidelined FinMin Schäuble in Greek negotiations. That could coming back to haunt her.



"Our neighbours in the North, in Spain, […] should be worried—very worried."








Two top PP officials resign to help party reach regional investiture deal in Madrid













Anti-mob unit nabs 44 in Rome mafia case: Italian church blasts plundering of migrant funds







Merkel 'totally supports' Renzi reforms: 'Germany wants Greece in euro'





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CHART: Euroskeptic parties are rising but ever less electors want to exit the single currency.





INFOGRAPHIC: Fiscal break-even oil prices, 2015. meeting LIVE UPDATES