Evening wrap.....
Mish's Global Economic Trend Analysis: Greek Banks' Non-Performing Loans Hit 43%; Only €14 Billion Recap http://po.st/neLkQj via @po_st
Solar storm knocks out flight control systems in Sweden http://bit.ly/1Wwx2aP
Mish opines on EU refugee plans and offers his pov & potential solutions...
Libya chaotic political situation collides with EU'S chaotic refugee situation - result will be more chaos.
EU should ease bailout due to refugees, Tsipras says http://dlvr.it/CfDJ1b
Greece may win 2 billion-euro payout by Monday, EU official says http://dlvr.it/CfDHGC
Manos Giakoumis
S&P downgraded #Eurobank rating to 'D' from 'SD' on distressed exchange (voluntary bond swap offer). #Greece #economy #banking
China now says IMF SDR decision regarding yuan still on for November ?
Podemos announces former four-star Spanish Air Force general, and former Chief of the Defence Staff, will run as candidate for Congress.
.@atsipras links fin.& #refugeecrisis for 1st time: we can't offer homes for #refugees and make foreclosures on #Greeks' primary residencies
Eu official: completion of 1st review not a precondition for access to 10 bln but completion of 1st and 2nd set of milestones needed
Europe....
Refugee Crisis ......
European Union states have relocated just 116 refugees out of 160,000 | News | The Guardian https://www.google.com/url?rct=j&sa=t&url=http://www.theguardian.com/news/datablog/2015/nov/04/european-union-states-have-relocated-just-116-refugees-out-of-160000&ct=ga&cd=CAEYASoUMTE4MzI2NTE3ODIzMjMzMjMxNjcyHDZjMGJlYTljNDA3ZjM1YjU6Y29tOmVuOlVTOkw&usg=AFQjCNEzI-gWQZ8AIr7rlp2ehBvB-iwmrA …
#Tsipras says 'Greece has received only 5.9 million from #EU from start of #refugee crisis. It's unknown how much the crisis will cost
#Schulz says #Greece is affected by #refugee crisis in period of economic crisis, #Greek requests are fair, will say that to the rest of EU
#Greece PM Tsipras & EU dignitaries wave Goodbye to 30 refugees heading for Luxembourg http://www.keeptalkinggreece.com/2015/11/04/pm-tsipras-eu-dignitaries-wave-goodbye-to-30-refugees-heading-for-luxembourg/#.VjnZA7Ap7zA.twitter …
#Tsipras says #Greece is not responding to humanitarian duty to demand 'like beggars' relaxation of bailout rules
#Schulz says he agrees that institutions must not demand counter-productive measures
#Schulz says EU must support #Greece in infrastructure, funds, staffing to deal with #refugee arrivals
#Schulz says VAT in islands, protection of primary residence are 2 requests that will be discussed in EU, but bailout criteria must remain
Bavarian PM Seehofer continues preparation of constitutional challenge against Merkel's government http://www.tagesspiegel.de/politik/seehofers-widerstand-bayern-bereitet-klage-wegen-fluechtlingspolitik-vor/12537344.html …
#Tsipras says while islanders help refugees any way they can, gov't is forced to increase VAT in islands
Economic Items.....
Is #Bitcoin the new alternative to paper money? While digital currency continues to rally, #Gold on a downward path.
@Schuldensuehner It's due to China expanding capital controls https://twitter.com/zerohedge/status/661591367408361472 … Bitcoin good to circumvent controls, gold stores value
#Tsipras says he discussed with #Schulz Greek request for European parliament involvement in bailout program
Glencore strikes bullish note on debt, trading http://on.wsj.com/1iCyqG3
*FINLAND'S THE FINNS PARTY POPULARITY FALLS UNDER 10%: POLL
#Eurozone | Sept PPI M/M: -0.3% v -0.5%e; Y/Y: -3.1% v -3.3%e
Despite historically low govt bond rates! Moody's: Proportion of Rated Sovereigns with negative outlook has risen to 17% from 13% year ago.
Far fewer people are employed in #Greece (and also in Portugal) now than in 2000 http://bru.gl/1RRM9ow
Pensioners stage rally in central Athens http://dlvr.it/Cf5hFr
EU's Moscovici: Greece could return to growth in H2 2016 but much work needed, compromise on bad loans possible, talks on debt after review.
Greece Needs to Complete Prior Actions by Monday for €2 Bln Tranche http://dlvr.it/Cf6rLf #Greece
ECB Bulletin: China Slowdown To Have 'Modest' EMU Econ Impact
https://mninews.marketnews.com/content/ecb-bulletin-china-slowdown-have-modest-emu-econ-impact …
#Spain | *LOW INTEREST RATES ARE RISK FACTOR FOR SPANISH BANKS: BOS ...is there such a thing as "risk" in EUtopia?!
#Moscovici says bank recapitalization must be accompanied by measures that will restore financial system, trust
#brexit osborne takeaways - confidence of never closer union and ins/outs demands suggests he thinks he has a deal
EU FINANCE COMMISSIONER MOSCOVICI SAYS 'HOPES' FIRST BAILOUT REVIEW TO BE CONCLUDED BY THE END OF 2015
...so it won't then
#Moscovici says program review will follow and then #Greek debt can be discussed
At least one bank in Western hemisphere hiking rates. #Iceland CenBank just raised 7d depo rate to 5.75%. (via Citi)
Credit markets getting nervous again on VW as emission scandal widens to Gasoline cars. 5y default probability jumps
#IMF said to postpone #China SDR decision till end Nov, CN newswire says w/o citing source. http://www.yicai.com/news/2015/11/4707183.html …
VW now down 10%, briefly dropped below 100 Euro.
#ECB | *PADOAN: ITALY, EURO INFLATION 'SIGNIFICANTLY' BELOW ECB TARGET ..all over his game this morning
Maersk Line to cut 4,000 jobs, 17% of total workforce http://www.ft.com/fastft/419101
Asia......
#China | *CHINA TO FORM A FEW STATE ASSET INVESTMENT COS, LOU SAYS:XINHUA
Swelling iron ore stockpiles in China signal more losses http://ow.ly/U7Gxc
#China | The last 2 lines of the Caixin services PMI release...
#China | Caixin Services PMI: "Business sentiment at services companies eased to the lowest in ten years of data collection."
#Australia | Oct Port Hedland iron ore exports 36.5Mt v 39.4M m/m; #China shipments 30.7M tonnes
#SouthKorea | Korea Exim Bank Oversea Economic Research Centre: South Korea Q4 exports to fall 9%
#China | *CHINA STARTS CORRUPTION SWEEP AT BANKS, STOCK EXCHANGES: XINHUA
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