Wednesday, July 1, 2015

Economic News , Data and Views ( July 1 , 2015 ) Greece Updates ( Polling Information for Referendum , News and commentary from early Wednesday morning and Tuesday - Greece Falls into arrears with IMF / End of Agreement reached without new deal / state of play moving forward )


Tweets......


Greece....


Evening wrap....


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Greek Minister Tsakalotos: There Won't Be Any Other Meeting [on Greece] Until Monday'


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imf's Lagarde says appears preferable Greece move toward reforms before europeans provide debt relief - RTRS



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says if we have No vote, negotiating line will be the same, willing to accept tough measures as long as we have debt measures




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varoufakis says capital controls will be lifted "immediately" as soon as there is deal (eg tues), points out that greece not same as cyprus




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ECB kept ELA limit for Greek banks unchanged, no change in collateral haircut.





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MERKEL: NOTHING NEW ON GREECE; MUST AWAIT REFERENDUM - MNI





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announces referendum is ON and gov't still urges NO. Scolds creditors for blackmail and financial asphyxiation





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sticks with referendum, advocates "no," promises to secure swift deal afterwards & avoid damage to pensions & deposits





Morning news....





Referendum polling




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GREEK REFERENDUM POLL (BEFORE BANK CLOSURE)..YES 37%, NO 57%... (AFTER BANK CLOSURE) YES 37%, NO 46%




`NO' VOTE LEADS IN GREEK EFSYN NEWSPAPER POLL








Poll for puts "No" on 46% and "Yes" on 37%. 17% undecided. Situation very fluid, though







EFSYN POLL may be biased - other polls suggesting YES in the lead







Oops: Latest opinion poll on Greek referendum sees "No" camp in the lead. Yes-vote 33%, No-Vote 54%, Don't know 13%.






. The more updated figures imply 72-75% YES, 28-25% NO





Wednesday news and commentary...





In statement confirms non-payment is "event of default" under their MoU. Will now decide whether to trigger cross-default





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SCHAEUBLE: TALKS BEFORE GREEK REFERENDUM MAKE NO SENSE RTRS







EU officials signal remaining conditions may not be acceptable







Greece's IMF default does not impact EFSF bondholders: RTRS




German FinMin Schäuble: Present Greek Govt Not Very Trust-Worthy Party for New Bailout Talks.







Creditors doc estimates that even if signs up to all demanded tax and spending measures debt is unsustainable






Referendum still on . For now. Unless there are further changes of heart.













two big events today: (11:30 CET) on new programme request; on ELA;






Four consequences of Greece’s D-Day






Some Syriza MEPs campaigning for YES in











*SCHELLING GREECE IS UNPREDICTABLE, BUT GREXIT NOT LIKELY








*FITCH:DEFAULT GREECE GOVT DEBT HELD BY PVT CREDITORS 'PROBABLE'








*FITCH NOW SEES GREEK GDP CONTRACTION OF 1.5% IN '15









*FITCH CUT GREECE COUNTRY CEILING TO CCC








*IMF TO CONSIDER GREEK REQUEST FOR PAYMENT DELAY IN DUE COURSE









*IMF BOARD INFORMED THAT GREECE IS NOW IN ARREARS










*DBRS CUTS GREECE TO CC; RATING UNDER REVIEW NEGATIVE






Long Lines in Greece as Banks Reopen; New Proposal Weighed: Eurozone ministers to weigh latest proposal from G...





















PM Tsipras letter to the accepting creditors' demands with three reservations.
































Recap of Tuesday - June 30th ......





statement: is now in arrears and can only receive IMF financing once the arrears r cleared









confirms: "I confirm that the SDR 1.2 billion repayment (about €1.5 billion) due by Greece to the IMF today has not been received."









The definition of "default" is not paying a loan on time. Don't let IMF mumbo jumbo fool you. This is a default










Fitch Downgrades Greece Further to ‘CC’










EFSF Announces End of Greek Bailout Programme; Greece on its Own








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Correction: Dep PM Dragasakis didn't say he told Tsipras to accept lenders' proposal but quoted report claiming so. Was misreported. Sorry











VP did not rule out that could eventually suspend in TV interview to












Eurogroup: Greek Program Extension and Debt Restructuring Rejected










in eurogroup teleconference tried to trade debt relief for referendum. got nowhere













Greece Offered to Conditionally Suspend Referendum: PM of Malta








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Made New Budget Cut, Overhaul Proposals During Teleconference of Finance Ministers—Sources via






Athenians pack Syntagma Square to call for 'yes' vote