Saturday, February 27, 2016

Economic News & Views ( February 27 , 2016 ) Items To Consider Today ( 1. UK Referendum / Brexit Items Of The Day. 2. G-20 Meeting Wraps Up - Additional Updates As Become Available . 3. Refugee / Economic Migration Situation - Why Does The EU Believe It Can Successfully Threaten Turkey , Which Knows It Isn't A Vassal State To The EU ? Border Security Concerns As Europe Threatens To Fall Apart - And One Can See It Happens On A Daily Basis . 4. European Banks / Monetary Policy Generally. )


Sunday Updates under the appropriate sections....


UK Referendum........

Harbor Lights......

David Cameron was recently threatening Brexit over a trivial welfare tweak. Now he says it'd be the gamble of the century. Come off it, PM.

Brexit ministers have agreed a "mutual defence" pact. If Cameron attacks they will all hit back. One for all and all for one

Unclear from G20 fin mins' warning about econ shock of Brexit is whether it's about hurt to UK or from knock-on to potential EU break-up

Once again that scaremongering over job losses post Brexit is destroyed

Pertinent Points From City AM Piece ......

The oft-repeated claim that 3m British jobs depend on Britain's membership of the EU has been challenged in a new report by the Institute of Economic Affairs (IEA).
The report's author, Ryan Bourne, calls on the public and commentators to challenge the assertion frequently made by pro-EU supporters.
"It can be said with certainty that three to four million jobs are not at risk in the event of a Brexit", Bourne said.
He added "It’s high time that politicians and commentators stopped scaremongering, and recognised that jobs are associated with trade and not the membership of a political union" .

Full Osborne statement from Shanghai on Brexit: key - warning of shock signed up to by Mark Carney

G20 says Brexit would be among the biggest economic dangers this year. Comments from :

Brexit voters ‘are more likely to turn out in force in June’s referendum'

Why would be a pain for RBS, which has announced £2 billion ($2.8 billion) loss


G-20 Meet - Shanghai ......

G-20 Nothing burger..... the low down

Refugee Situation / Border Security

We're All Alone.....

Still 150-200 people on rails. A LOT more police with shields has arrived.

Still maybe 400/500 people on the rails. Let's hope they don't leave.

Two former military camps that were supposed to become hotspots on fire in northern Greece. Rumours that fascists burnt them.

Getting worse literally by the day....

"We estimate that in our country the number of those trapped will be from 50,000-70,000 people next month", Migration Minister Yiannis Mouzalas said. "Today, there are 22,000 refugees and migrants"

More than 20,000 refugees remain stranded in multiple locations across the country, prompting Dimitris Avramopoulos, the EU migration commissioner, to warn of a looming “large-scale humanitarian crisis”. 

6,000# refs/migrants stuck at from border w/ out food/water, megatv reports

Tony Blair accused of deliberately allowing 2 million migrants to settle in Britain

Belgian PM: We have to be very clear with Turkey, without naivety. We need results.

6,000# refs/migrants stuck at from border w/ out food/water, megatv reports

Thousands of refugees stranded at Greece-Macedonia border

Albania closes borders to , PM Edi Rama: "Albania will not become the next route to Europe"

EU Med countries oppose unilateral actions on crisis, rally around .

Refugee Crisis: Athens is considering declaring a state of emergency. via

Greece is panicking as Europe slams the door on migrants

Poland’s nationalist party Kukiz-15 wants to build a fence on the country's border with Ukraine

Border Closures Leaving Migrants Trapped in Greece Was an EU Decision, Says Greek Journalist in Idomeni

Big development in asylum crisis: following closure of Balkan route, Greece cuts ferry trips from Greek islands

Visiting Vienna, Ljubljana, Zagreb, Skopje & Athens to work on European approach migration:

Lowering expectations? The German government will NOT brief journalists ahead of the EU-Turkey summit.

relocation from Greece will take +100 years at current rate

"If the deal doesn’t work, what else can we do?" -- A leading concern as crisis won't ebb:

EU ministers demand drop in migrant flows from Turkey before March 7 summit

European Banks ,  Monetary Policy generally - Are things better in Europe's "Financial Sphere" , as compared with when Hugh & Jeff tangled a few years back ?



’s 3 Mandates: Price Stability, Jobs and ... Wall Street?

Good morning. seemed to have noticed that mon pol alone cannot bring balanced growth.

HSBC Looks At "Life Below Zero," Says "Helicopter Money" May Be The Only Savior

Italian Banks’ Bad Loans Continue to Mount

Forget earnings. Here's your schedule for the Ides of March: ECB: 3/10 BOJ: 3/15 FOMC: 3/16 OPEX: 3/18

Bank of England's Carney warns of zero-sum game from negative rates:

Pressure mounts on ECB to act after euro-area inflation is revised down to 0.3%

Thomas Fazi: "the banking union’s bail-in rule – is already causing a slow-motion bank run on periphery banks"

German ‘doom loop’ proposal would hit Italian, Spanish banks:

Frankfurt, we got a problem. New record high 45% of Bund universe trading below ECB's depo rate, not QE eligible.

EBA's new test for banks ignores negative rates and excludes Portuguese lenders and small Italian ones.

This isn't the time to even consider buying European banks.

Large Banks Are Moving Out Of European Repo Markets via

Doom loop unbroken: Default probability of Deutsche Bank and continue to rise in lockstep.

According To Morgan Stanley This Is The Biggest Threat To Deutsche Bank's Survival

European banks fail to sell Coco bonds

Very worrying chart for the ECB: PMI price pressures gauge weakest since 2012. Strong case for action.

French banks swim against retreating European tide

Combined balance sheet of G4 CenBanks (Fed ECB, BoJ, PBoC) has stopped growing, main reason for mkt woes? (via SG)

European banks gain a reprieve after ECB retreats on capital demands