Thursday, July 30, 2015

Economic News , Data and Views ( July 30 , 2015 ) -- China Stock market News Of The Day ......EZ Grab Bag and Data Splash ( Germany Unemployment & Additional Data , EZ Inflation Data For July ) ...... Greece Updates To Ponder ( Economics , Creditor Talks , Domestic & International Political Dynamics -- And more ) ..... Spain In Focus ( Economic , Political And Human Interest Items ) ...... Italy In Focus ..... General Odds & Ends !


Evening Wrap....









After tense 12-hour session, Syriza central cttee decides on emergency congress in September. No party referendum on bailout deal Sunday.





















Tsipras has sold his soul for a mess of potage. Likely neither IMF nor Schauble will back deal even after Syriza enacts laws, does as told








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will only decide @ “stage 2” aftr has “agreed on a set of reforms” &, crucially, aftr zone hs “agreed on debt relief” ~FT













Morning Tweets.....



China.....


BREAKING: Shanghai benchmark index mysteriously sinking in last 5 mins of trading, down 2.2% and causing panic again











BREAKING: China's efforts to rebuild investors' confidence in stock market becomes short-lived with Shanghai benchmark index sinking over 2%





Baidu loses over US$10 billion as firm sees steepest decline in share price since 2008














China media reports that Chinese banks are investigating their exposure to the stock market via loans backed by stock as collateral










Chinese Stocks Fade From Open Highs As Margin Debt Tumbles To 4-Month Lows, Regulators Probe Officials' Sales






Good morning, China!








EZ Generally....







Small Belgian farmers lobby ABS obstructing roads today, demands "change to the EU's Russia policies" and EU CAP







FAZ exclusive: wants legal supervision of internal market & EU competition rules by new independent bodies - not Commission.






New Deutsche chief delivers blunt verdict on bank’s outlook:





HSH Nordbank’s fate set to be decided by EU and Germany:







German employment growth slowed to just 0.4% Y/Y in June. In June 2014, it was 1.0%.







German unemployment in June posts biggest rise since May 2014







VDMA: German engineering orders fell 1% Y/Y in H1 Domestic -1.0% Foreign +0%







inflation in July: Mixed signs so far with 's Saxony showing a rise in the yoy rate but showing a drop







"German govt concerned that 's “regulatory cooperation” could lead to regulation bypassing national parliaments"







Greece......






How independent was the IMF when structuring the Greek programme?










IMF Executive Board has given the greenlight to talks on the new Greece program after a long discussion ( via Kathimerini)








1 Big conundrum in Greek talks is whether banks can be directly recapitalized by ESM without bail-in of depositors








2 Direct recap would be good idea. Would mean Greek state would not take on an extra €10-25bn in debt. also ensures banks not politicised








2 Direct recap would be good idea. Would mean Greek state would not take on an extra €10-25bn in debt. also ensures banks not politicised






Greek authorities do not provide the docs to Troika. "Greek play their games again" - ESM













Deflation...











Parliament's budget office rings alarm bell on economic prospects.


















Some thoughts by on what's on the agenda of central committee meeting today






Tsipras speech to Syriza Central Committee 10ish EET. Looks like he has regained majority. Influential 'Movement of 53+' faction now back him






's 2y yields rise as Tsipras heads for showdown with rebels amid bailout talks.









Greek PM Tsipras threatens Syriza rebels with snap elections







*GREEK GOVT SPOKESWOMAN: DEAL IS PRIORITY OVER PARTY UNITY








Greece: troika's aim is demonstrating the inability of any left-wing gov to exist and prosper within the € - #€idiots




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1/2 | Schäuble's plan for replacing the in the inspections of with the is extremely problematic.







2/2 | does not hv own financial & econ experts. What r they going to do? Use German & Dutch FinMin experts? That wld be explosive

















FinMin Schäuble wants to remove from 'Institutions' that oversee program and replace it with Eurogroup ~FAZ







Spain.....




Pic of the day: Hot air balloons over











Catalan independence would mean losing Euro - De Guindos - Not again...








Man fined €600 under Spain's new "gag law"for calling police "lazy"on Facebook via










Now two full years (8 quarters) of positive quarterly GDP growth for Spain.





Some perspective on Spain's GDP growth - still 3.5% below peak in 2008







Spanish PM backs "xenophobic" candidate in Catalan elections







Quadraplegic kids are taking their first steps thanks to Ironman robot developed by Spaniards







Italy......





Popes getting ever more technological: Selfies and tablets 'to get closer to the young'-L'Osservatore






Azzollini says vote not influenced: Senator investigated for graft







Italy wants UN counternarrative to Jihad: Repressive measures insufficient, police chief tells 80 states







13 false cops nabbed for burglaries: Thirteen arrested carried out eight robberies and burglaries







Italian oil firm Saipem to cut 8,800 jobs: Hit hard by collapse in oil prices





Odds & Ends.....






Shell sees 2015 operating cost reduction $4 billion; 6,500 job cuts




Morning Note: 1. Fed... Who knows?! 2. RBS actually delivers a profit. 3. Oil rout = Shell to cut 6,500 jobs











Media Feels Pressure As Space for Independent Journalism Shrinks







International Community Looks for 'Alternative Path' After Vetoes MH17 Tribunal Plan




Debris in Photo Like Missing Malaysia Plane , Official Says: AP



















Ruble Free Float Gets Dirty as Rout Ends Foreign-Currency Buying.











Dollar rises near 4month high as sees more Go-September signals. Euro trades below $1.10.