Monday, August 17, 2015

Economic News , Data And Views ( August 17 , 2015 ) .... Greece Updates ( Domestic and International politics touching on Greece debt crisis , economic items of note , Senior Bank debt plunges post bailout agreement , debt relief trial balloons set afloat ) .... Broader Europe In Focus ( Germany , EZ/EU international trade data , EZ politics regarding Greece Bailout Agreement ) ....... Asia In Focus ( Japan , China , Currency turbulence in focus today ! )

Evening wrap....


German "Fraport" gets 14 regional airports in for 1.23 billion euro total for 40+10 years. FrPo main stakeholder Fed St of Essen

Why Tsipras might gamble on snap elections Great, down-to-earth analysis by

Syrian rebel leader seeks Europe – fleeing gov't and jihadis

Greece’s 3. bailout: Dramatic decreases in pensions and welfare benefits

Greek gov tight-lipped on timing of anticipated confidence vote as Tsipras waits to secure Aug 20 ECB repayment , weighs best time for elex.

NEW | reviews latest data published by finance ministry


funds meant to house the poor were diverted toward bank loans and wealth management products

says nearly $1.6 billion in housing-program funds were embezzled

A safe guesstimate is death / injured missing totals will be much higher than officially acknowledged ...

Europe and Turkey....

This chart shows why the Euro will kill : Unit labour costs have risen by >27% rel to those in Germany (viaSLJ)

Turkey Declares Curfew In Latest Wartime Escalation, Lira In Record Plunge On More Government Turmoil

via Debt Redemption Fund discussion popping up , a plan from earlier this year.

E.M Currency Watch ,  Commodity Crunch ....

Forget “Fragile 5.” These days, strategists at Morgan Stanley are worried about “Troubled Ten"

All 12 Opec members unhappy w/ low oil, but not all struggling equally:Here's spectrum of pain

Morning Tweets....


island sunset.

There have been other sage calls for consideration of a debt redemption fund for the EZ....

Greece writes off debts to state and banks up to €20,000

Merkel may face more defections in Greece vote, ally Fuchs says

Greece Goes to Elections if Tsipras Fails to Get Confidence Vote

Pasok joins Main Opposition Party New Democracy in refusing to back PM Tsipras if no confidence vote called.

Greek senior bank bonds plunge on Dijsselbloem bail-in comments

Greece to trouble euro zone for Decades, says Soini

This latest Greek deal is nothing to celebrate – Bloomberg -

debt relief being discussed through maturity extension to 60y -

H/T to Vito once again for sharing ! Insights from Stathis Kouvelakis on the ongoing upheaval w/i Syriza

Merkel & Schauble both say limited scope for debt relief (int rate reductions & debt extensions) - Enough for IMF ?

Broader Europe....

German exports grew 7% Y / Y in 1H 2015, imports up 3% - Eurostat

Gazprom's colossal deal with China is already looking like a terrible move for Russia via

German MPs rebelling against Merkel and third Greek bailout could more than double and exceed 120 this Wedn (Bild)

Dutch parliament recalled to debate new Greece bailout -


Kudos to - This should be widely shared. Proof only listens to the market when it controls the market.



's economy contracted by 1.6% in Q2, exports fell at an annualized rate of 16.5%, hit by slowdown

Asian Financial Crisis Redux?: Is Malaysia Set To Introduce Capital Controls, Currency Peg?

Asian Currency Crisis Continues As China Holds, Malaysia Folds, & Japan Heads For Quintuple Dip Recession

Chart: China's overnight rates continue to rise; some point to capital outflows and tighter monetary conditions -