Saturday, October 17, 2015

Economic News & Views ( October 17 , 2015 ) - Refugee Crisis Updates ( The endless flow of souls escaping war-zones and abject poverty , the geopolitical / eurozone politics / MENA implications , bribes and extortion intrigues - the week in review on this subject ) ....... Greece Updates ( Prior Action vote prevails as Coalition votes alone carry the day - first but not the last Prior Action vote , Greece Banks Recap looms , Greece Gov't sees 3.5 BN in Asset sales in focus for 2016 and other fables ) ....... Broader Europe Updates ( Italy's Budget in focus , Spain Election in focus - Ciudadanos on the rise , Russia ruble in focus , Berlin faces new scandal - as if VW wasn't enough , now we have bribery for 2006 World Cup hits Germany , Odds & Ends )

Refugee Crisis ......

Migrant backlog builds in Balkans after new diversion

Calais 'jungle' camp migrant numbers double to 6,000

Europe pays homage to Erdogan

news - Refugee crisis: First buses arrive in Slovenia as women and children drown trying to reach Greek ...

Germany ready to give Greece financial aid to tackle refugee crisis

The Libyan Coast Guard: few ships, no lights, little hope of stopping migrants by

What Spanish efforts to limit illegal migration can teach other Europeans

A woman and three children have drowned with other refugees trying to reach Greece

Afghan's shooting is grim landmark as EU hardens its heart against refugees

Turkey awaits political demands before implementation of migration deal with EU - by

Combining refugee resettlement and asylum acceptance, US lags EU response to refugee crisis.

German FM to discuss Syria, with Iranian, Arab colleagues

Turkey rejects EU's cash offer on refugee crisis

German economist Clemens Fuest: 800.000 extra migrants cost Germany 20-€30bn per year, forcing up taxation with 6%

Hungary closes border: Red shows main migrant-route until midSept. Blue from midSept until today. Yellow from 2night

In other news, the EU now wants to resume sending refugees back to Greece


: Major points of multi-bill submitted to Greek Parliament for vote this midnight.

Creditors to return to Athens after measures approved

Greece’s Big Challenge to Fix Bad Loans Without Destroying Banks

banks brace for recapitalisation, with Piraeus initiating a bond swap offer.

's parliament approves MoU omnibus bill. Only one gov't coalition MP votes against.

After the 1st govt "of the left",we have the first austerity measures "from the left". Omnibus bill passed in parliament w 154 "yes"

Pro-European opposition in voted in favor of bailout deal in August, now votes against implementation of bailout measures. Paranoia.

S&P downgrades Piraeus Bank to 'D' from 'SD' on Distressed Exchange.

Highest in the EuroZone: 36% of Greek population at risk of poverty or social exclusion.

2. told parlm ystrd the bill incl only 12-15 out of abt 48 prior actions of bailout deal: those that will unlock €2 bln tranche

It's just one bill which will first be approved as a whole and then 4 articles seperately

Broader Europe.....

may need new debt in 2016 to pay for refugees, Spiegel reports.

Compare with this item from before in link from Reuters .....

Good evening Holger and thanks for this item. This seems to be a different tack from earlier views.

German mayoral candidate Reker stabbed over refugee support

Poll of polls in Spain now starting to reflect Podemos slipping into 4th place.

And Ciudadanos' Rivera is way ahead of the pack as Spain's most popular political leader.


Hedge Funds turned bullish on 's Ruble for 1st time since July.

Good morning from Berlin where after Diesel gate another scandal hits. Germany bought 2006 World Cup, Spiegel says.

Renzi says will resend same budget: Package will help poor, pensioners says Poletti

Fitch on : Depreciation of Ruble has continued to benefit balance of payments, w/ imports falling 39% YoY.

Euro area becoming world’s biggest creditor bloc for capital flows, internationally. (via Jefferies)

The sick man of the : 's GDP is no higher now than at the start of the last decade. (Chart via BBG)