Saturday, June 6, 2015

Economic News ( June 6 , 2015 ) - Saturday Morning Greece Updates ( Whirlwind week of activity on creditor talks , economic picture , internal and external political picture - apart from taking stock , items for down the road include : After the " Dinner In Brussels " Meeting between Tsipras / Juncker and Dijsselbloem , creditor talks expected to continue this coming week ; Debt Truth Committee meeting on 6/18 ; Tsipras visits Moscow during forum set for 6/18 - 6/20 ; mid month wages and pension payments coming soon ; end of month IMF payments on horizon


Tweets.....


Troika’s proposal to still negotiable - French Finance minister




Junker Declines Tsipras Call: Greece "Not Serious", "No Reason To Meet"



: Greece and Ukraine crises drown out G7 summit agenda - Yahoo News
























Just catching up with my own output from Greece yesterday: it’s all here inc Syriza explainer and Zoe interview





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The two variables that matter now for Greece are public opinion & the level of bank deposits. The two that have always mattered.







Kathimerini reports deposit flight from Greek banks surged to €700m on Friday. Coming to a head, for Greece and ECB




Just as troika demands more austerity from , Amartya Sen calmly and comprehensively debunks the entire concept














23% for electricity is disturbing and > tax on medicines equally disturbing.







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Fitch on : Missing the larger end-Jun payment to the would be credit negative.






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Fitch: bundling highlights extreme liquidity pressure, no direct implications 4 'CCC' sovereign rating.







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revenue gap (vs target) widened by ~€1 bln in May due to delay in corp income tax collection, lower VAT & ANFA (via )






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Acc to gov't projections incl in the 47-page document sent to institutions.






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how much ELA can banks get without bigger haircuts?






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95 billion. It is expected to go down to 89 billion with a new haircut.





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i'm not so sure. my info is there's large group on ECB who wanted to higher haircuts even before IMF non-payment etc









Putin holds phone call with Tsipras, agrees to meet in 2 weeks in Russia — RT Business









To be a fly on wall at next wk's collateral haircut debate after that speech completely rejecting creditors' offer...





Tsipras says based on debate in Parl't he feels it's right to reject institutions' proposals. Glad someone got something out of it





poll [MetronAnalysis/]: Syriza 45, ND 21.4, Potami 7.4, GD 5.3, KKE 5.2, IndGrks 3.8, PASOK 3.5








poll [MetronAnalysis/]: Should the gov't accept creditors' proposals? Yes 47% No 35%





Tsipras speech recap: - no to creditors' demands - Greek proposal the only realistic blueprint - calls on opposition to support him






PM Tsipras goals: - low primary sur+ - debt relief - pension system protection - wealth redestribution -labor protectn - investments






PM Tsipras: We are closer than ever to an agreement. We have made a realistic proposal and we are willing to compromise.