Tuesday, July 21, 2015

Economic News & Views ( July 21 , 2015 ) Commodities Headlines & News from Other Quarters ( Oil and gold slump as commodities in general under pressure in , Russia , China , Argentina , Nicaragua and Africa items of interest ) ...... Greece block of news and views for the day - next round of Creditors on the horizon as Parliaments readies next batch of Legislation for a crucial vote on Wednesday !

Evening Wrap......

Every sunset in reminds me how much I love this country, in good and bad times!





*IMF APPOINTS NEW MISSION CHIEF FOR GREECE *IMF SAYS DELIA VELCULESCU TO BE NEW MISSION CHIEF *IMF SAYS RISHI GOYAL TO BE REASSIGNED





Tsipras's non-paper slamming leftist SYRIZA dissenters - via








Greek business warn of closures as capital controls choke supplies /via




Probe into ATEbank loans put damage at 5 bln euros








As deputies brace for vote on second set of prior actions, Tsipras lashes out at critics








SR US TSY OFFL: VIEW OF DEBT RELIEF HAS CHANGED IN PAST DAYS - MNI





SR US TSY OFFL: DEBT RELIEF MAY NOT HAPPEN; 'CONTOURS' NOW KNOWN - MNI






Greek bill w 2nd set of prior actions(civil code to speed courts/ EU law to shield banks) is 971 pages! Imagine if farmers had been included








ECB welcomes Greek bank resolution bill with legal qualms







Morning Tweets......






Commodities in focus - in particular gold & oil ...




HFE: We do not believe that Armageddon began yday. We are in for a few weeks of particularly volatile mkts











slide helps erase half of gains from 12-yr bull run, $1000/ounce on horizon.














. Value of 's Gold reserves has plunged from $53.5bn in 2012 to now $48bn despite Putin bought 300 tons






Ruble shows resilience to fresh weakness. Trades sideways despite Brent has dropped by another 1%.















































Greece.....





Excerpt from opinion on new draft law on bank recovery and resolution. Check the last sentence.








ECB welcomes Greek bank resolution bill with legal qualms















*GREECE, CREDITORS WILL HAVE COMPLETED BAILOUT TALKS BY AUG. 20 *GREEK GOVT SPOKESWOMAN COMMENTS IN E-MAILED STATEMENT







Greece to start bailout negotiations with the lenders after wednesday's parliamentary vote - Greek government spokeswoman - RTRS









pushes Merkel with pledge can earn debt relief







3/4 Varoufakis Plan B was applied (Rferendum, cap controls). Last moment Tsipras saw this was going, pulled back avert total collapse/Grexit










3 charts depicting bank Euroystem - funding & banknotes in circulation.










Immigration Minister Calls Migrants in the Streets ‘Tourist Attraction’








Parliament Vice President Mitropoulos: ‘The Measures Are Harsh and Highly Anti-social’














Varoufakis Reveals Pegged Currency Plan for Greece, Admits Mistakes






Memorandum Set to Stick with 3.5% 2018 Surplus Target but Adjust the Path /via








2nd prior actions bill submitted overnight, to be voted on tomorrow extends into 971 (!) pages incl annexes.








May C/A surplus at €407mln from deficit of €299mln last year. 5-month C/A deficit at €2.73bln from €2.6bln last year (BoG).







*MOSCOVICI SEES RESISTANCE TO GREEK DEBT HAIRCUTS ACROSS EUROPE






*ECB SAYS IT WELCOMES GREEK DRAFT LAW ON BANK RESOLUTION