Markets & Market Moving News....
PUERTO RICO BUDGET WILL CONTAIN NO NEW TAXES NOR WILL THERE BE ANY LAYOFFS; EAT SHIT @GOP GRINGOS : GOV GARCIA
Bernie Sanders rejects House deal on Puerto Rico, calling it a concession to Wall Street. http://reut.rs/20s16C6
The full horror is here. IMF DSA on Greece, just released. http://www.imf.org/external/pubs/ft/scr/2016/cr16130.pdf …
IMF proposes measures to reduce debt http://dlvr.it/LNXK6N
#IMF calls for immediate #Greece debt relief. http://www.ft.com/cms/s/0/2bf58684-2102-11e6-9d4d-c11776a5124d.html …
#IMF: The fixing of the interest rates on Greek loans would require a commitment by Eurozone member states to compensate ESM for the losses
Doesn't give comfort regarding IMF forecasts out to 2060 or 2080 , when their DSA from 2015 is , so far off base.
Saudi financial crisis 'could leave oil at $25' as contractors face being paid in IOUs. http://www.telegraph.co.uk/business/2016/05/22/saudi-financial-crisis-could-leave-oil-at-25-as-contractors-face/ …
Greece can't grow out of debt. Achieving 3.5% primary surplus a fairy tale as IMF thinks hitting 1.5% a stretch.
Gov't looks to loan funding, debt relief after approving measures http://dlvr.it/LNXJwV
Fraport welcomes approval of airports concession contract http://dlvr.it/LNXKDY
There are more than 54,000 refugees & migrants now stranded in Greece http://ow.ly/8sxX300vbXB
Migrants have stopped arriving in Greece, but they are not being sent back either http://econ.st/20qPwH7
Call for Thessaloniki port bids in September http://dlvr.it/LNVHF1
#Greece's 2y yields drop more than 100bps after austerity vote.
Holger Zschaepitz @Schuldensuehner
#Greece to get €11bn loan tranche after review completion, €3.8bn for arrears clearance, €7.2b to cover debt service needs, BBG reports.
Embattled Brazilian Planning Minister Juca , caught on tape having incriminating discussions , steps aside.
Brazil’s interim president Michel Temer is already facing his first political crisis http://on.ft.com/1TrQq7F
Brazil's new government faces its first political crisis with a corruption scandal http://bloom.bg/1sN6KUZ
Germany / Austria.....
47 % in new poll say no 4th term for Sultan Enabler Merkel ( Handelsblatt/Forsa poll.)
New @handelsblatt/ Forsa poll: 56% of Germans think gov't will not be able to integrate its 1.1m refugees into its labour market.
German sentiment against EU Turkey Deal at 59 %. Don't worry- recent polling in TUR shows 57% of Turks pan Deal too.
Merkel expresses various concerns & delivers redlines to Sultan Erdogan. And we shall see how he responds to this.
At the end of the day , result turned on the postal votes.
This article with various polling data is from 5/20-but note 57 % of turkish respondents panned the EU Turkey Deal.
fred walton @fredwalton216
Note , Erdogan response to Merkel re: need to change Turkey's Terror law - changing terror law not up for debate.
Yigit Bulut warned if Europe failed to keep promises to Turkey, Ankara could review all of its relations with EU.
Merkel is ready to swallow a lot to keep Turkey on board,” - Josef Janning
Odds & Ends....
#Libya UAE, KSA & Egypt still want to see a HoR vote on the GNA Gov & a constitutional amendment vote first. Egypt becoming more flexible?
Suicide bombers kill 45 men waiting to join army in Yemen http://wapo.st/1WKiROk
At least 101 people were killed &120 wounded in bombings in Syrian government strongholds Tartus & Jableh on Monday
#SYRIA: April 16, 1986 (via NYT). Today, 7 coordinated blasts in north Syria, including at bus stations, killed 120