Thursday, July 9, 2015

Economic News , Data and Views ( July 9 , 2015 ) Broader Europe .... Italy in focus ( Italian youth employment hits 42.7 % , GDP forecasts for 2015 ( 0.6% ) and 2016 (1.5% ) , additional items of interest for Italy ) ...... Spain in focus ( Political items of note as Spain moves toward Elections later this year ) ..... Items of note touching on Russia ..... Greece in focus ( Economic items , Updates for Domestic and International Politics , focus on Creditor Talks )



Morning Note: 1. Greece's midnight deadline. 2. BoE ZZZZzzz 3. China bans major stock holders from selling...

Broader Europe ....

OECD says Italian growth 'timid', youth unemployment 42.7%: GDP rises of 0.6% and 1.5% forecast for 2015, 2016

Italy stronger than 2012 says Padoan: Minister says reforms, return to growth offer protection

HackingTeam software out of control: Firm says terrorists, extortionists can now use technology

For Spain, Greek risk is political, not economic via

Charging bulls injure five during Pamplona run

PP prepares to battle Spanish left for young voters - emerging Ciudadanos also in its sights

Belarus Asks for $3 Billion Loan, Says Finance Minister

Putin, leaders meeting - WATCH LIVE:


If there's an agreement with lenders by Sun, it may be worth more than €65 bln. The bill has soared

it's a eurozone summit followed by full 28

EU's Tusk says good agreement on Greece should convince parliaments

Moscovici hopeful of a Greek deal

Lafazanis says government will not accept third austerity package

ECB chief Draghi says Greece solution is 'really hard'

100 German MPs Gathering Signatures for Grexit

Greek Gov’t: ‘We Believe We Will Have Positive Signs at the Eurogroup’

UN would struggle to cope with refugees in Greece if banks fail -

Juncker will meet Greek opposition leaders from New Democracy and To Potami leaders today and tomorrow


Program of following days: proposals have to be in by midnight,assesement by 3 institutions til Saturday morning, EWG 10 am and EG 3pm

"Everything is going well. Will all happen very quickly even though some ppl try to sabotage deal," says coalition partner Kammenos


gg arrears to the private sector up 4.5% MoM to €5.04 bln (end-May) from €4.82 bln (end-Απr) – MoF.

Will there be a deal on Sun or will Schaeuble say "Isch over"? & on his differences with Merkel

5-month gg cash primary surplus at €557 mln from €1.16 bln last year (MoF).

Jun CPI -2.2% YoY (from -2.1% in May) and +0.6% MoM. 12-month trailing CPI -1.7% (ELSTAT).

Apr seasonally adjusted Unemployment at 25.6% from rev 25.8% in Mar and 27% in Apr 2014 (ELSTAT).

Meeting of PM w/ Dep PM , FinMIn , Econ Min & FM underway (via )

What changed between Sunday [] and today? More payments into system than expected?

At conference in Athens, Energy Minister Lafazanis insists gov't will not sign new MoU, says has other options.

New Democracy, To Potami & PASOK sceptical of Tsipras's ability/commitment to seal an agreement with lenders

We await 's proposal. French team been sent to aid new Greek FinMin to prepare proposals which will meet w/ creditors’ demands (Citi)

ICBC: Tsipras could still get a deal done, but only after accepting a personally humiliating defeat at hands of Merkel & other EZ hardliners

ICBC's Efstathiou: ’s fate is no longer in its own hands. After failed negotiations of past 6 mths, many EU leaders just want

's 2yr yields keep rising as is now the base case of all the major investment banks.

Noonan says owes €350mln. (Lucky Ireland didn't participate in EFSF aid BUT Noonan forgets Target2)

Contagion watch: Periphery yields drop while Bund yields rise. Portugese 10y risk spread over Bunds plunges.

Ratio of govt spending-to-GDP fell by most in Greece out of wider EU. Greek ratio dropped 10.7ppts to 49.3% (via BBG)

Buba's Weidmann: Need Greek Capital Controls Until Deal Reached, Solvency of Government, Banks Ensured.

Buba's Weidmann: Doubts About Solvency of Banks in 'Legitimate, Rising by the Day.'

Buba's Weidmann: Eurosystem Shouldn't Increase Emergency Lending to Until Deal Reached.