Evening wrap....
Greece...
German "Fraport" gets 14 regional airports in #Greece for 1.23 billion euro total for 40+10 years. FrPo main stakeholder Fed St of Essen
Why Tsipras might gamble on snap elections https://shar.es/1tDSsA Great, down-to-earth analysis by @NickMalkoutzis #Greece
"Avoid ALL Contact" With Rain, American Embassy In Beijing Warns http://www.zerohedge.com/news/2015-08-17/avoid-all-contact-rain-american-embassy-beijing-warns …
Line-By-Line & 62 Pages Long, @yanisvaroufakis Thrashes #GreeceBailout Agreement @businessinsider http://read.bi/1gQYsEY #EU #OXI
Greece’s 3. bailout: Dramatic decreases in pensions and welfare benefits http://goo.gl/fb/5M6nd3
Greek gov tight-lipped on timing of anticipated confidence vote as Tsipras waits to secure Aug 20 ECB repayment , weighs best time for elex.
China......
#China funds meant to house the poor were diverted toward bank loans and wealth management products http://reut.rs/1NcT5xz
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 #Italy: 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 http://www.zerohedge.com/news/2015-08-17/turkey-declares-curfew-latest-wartime-escalation …
Moody's Warns France May Miss Deficit Targets After Weak Q2 Growth
https://mninews.marketnews.com/content/moodys-france-may-miss-deficit-targets-due-weak-growth …
https://ideas.repec.org/p/ise/isegwp/wp072015.html … #RePEc via @stlouisfed 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" http://bloom.bg/1PtkTMm
Crude Oil Pump'n'Dump Ends At Lowest Close Since March 2009 http://www.zerohedge.com/news/2015-08-17/crude-oil-pumpndump-ends-lowest-close-march-2009 …
Copper & Crude Carnage Continues http://www.zerohedge.com/news/2015-08-17/copper-crude-carnage-continues …
All 12 Opec members unhappy w/ low oil, but not all struggling equally:Here's spectrum of pain http://uk.businessinsider.com/rbc-opecs-spectrum-of-pain-2015-8 …
Morning Tweets....
Greece...
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 http://goo.gl/fb/UPimQL
Merkel may face more defections in Greece vote, ally Fuchs says http://dlvr.it/Bsxl7j
Greece Goes to Elections if Tsipras Fails to Get Confidence Vote http://dlvr.it/BsyP34 #Greece
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 http: // dlvr.it/BswsMJ
Greece to trouble euro zone for Decades, says Soini http: // dlvr.it/Bsw2cw
This latest Greek deal is nothing to celebrate – Bloomberg - http://bit.ly/1Jcw4rO
# Greece debt relief being discussed through maturity extension to 60y - # Eurogroup
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
Eurostat: Euro area international trade in goods surplus €26.4 bn, €10.4 bn surplus for EU28 http://ec.europa.eu/eurostat/documents/2995521/6941808/6-17082015-AP-EN.pdf/8f52571c-8921-41ae-bd44-18bb58e2b77a …
Gazprom's colossal deal with China is already looking like a terrible move for Russia http://read.bi/1DZbOd4 via @BIUK_Finance
German MPs rebelling against Merkel and third Greek bailout could more than double and exceed 120 this Wedn (Bild) https://euobserver.com/justice/129900
Dutch parliament recalled to debate new Greece bailout - http://bit.ly/1JcrN7P
Asia....
Kudos to @n_gough - This should be widely shared. Proof #PBoC only listens to the market when it controls the market.
TAIWAN DOLLAR FALLS TO WEAKEST SINCE NOV. 2009
INDIA'S RUPEE DROPS TO LOWEST LEVEL SINCE SEPT. 6, 2013. What currency war.
#Japan's economy contracted by 1.6% in Q2, exports fell at an annualized rate of 16.5%, hit by #China slowdown http://www.wsj.com/briefly/BL-263B-5670 … #GDP
Asian Financial Crisis Redux?: Is Malaysia Set To Introduce Capital Controls, Currency Peg? http://emergingequity.org/2015/08/17/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 http://www.zerohedge.com/news/2015-08-16/asian-currency-crisis-continues-china-holds-malaysia-folds-japan-heads-quintuple-dip …
Collateral Damage: Dollar Strength And Emerging Markets’ Growth http://emergingequity.org/2015/08/16/collateral-damage-dollar-strength-and-emerging-markets-growth/ …
Chart: China's overnight rates continue to rise; some point to capital outflows and tighter monetary conditions -
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