Saturday, November 26, 2016

Economic News , Data & Views ....... November 26 , 2016......Quick Hits For Saturday 1) Greece In Focus : Creditor Talks & Domestic Policy In Focus. 2) UK - News Of Note For Saturday. 3) US Political Updates For Saturday. 4) Odds & Ends.



Fin, Econ, Energy & Labour Mins held teleconference with institutions' mission chiefs ahead of Mon Working Group

Teleconference between FinMin and institutions' mission chiefs in progress (via )

As for bailout negotiations with Greece’s creditors - two sides continue to disagree as regards labor laws and fiscal targets.

Thessaloniki bus workers say they'll go ahead with strike Monday

Banks address their strategic defaulters

Tax exemptions to be slashed

: currently has no debt service problem, at some point redemption payments will rise, in case of need we will act then

: in 2014 growth returned to , country started issuing bonds again, we are getting back to this point now for 2nd time

Evolution of budget primary surplus, revenues and primary expenditure in 10-month.

UK News......

London's property prices "may be falling faster than official reports suggest"


Jaguar set to add 10,000 jobs in the UK....

Brexit dealmaker Verhofstadt backs paid EU membership for Britons

The pound is the only major currency to have risen against the dollar this month

US Politics.....

Trump weighing Fox News' Monica Crowley for press secretary: report

Trump's comments on Paris climate agreement raise eyebrows among environmentalists

Chomsky: Liberals who didn't vote for Clinton made a 'bad mistake'

JUST IN: Top Trump adviser calls Clinton camp a "pack of sore losers" over Wisconsin recount

The number of votes between Trump & Clinton in the closest of these states—Michigan—exceeds the largest margin ever overcome in a recount.

Team Hillary: Yeah, there’s no evidence the election was hacked — but we’re joining the recount anyway

An interesting read....

Trump could learn from Abraham Lincoln's lessons in graciousness, writes RCP's

This is very true - " The liberal conniption about alleged Russian “hacking” of our election has reached a boiling point. "

Donald Trump reshaped the electoral map. Check out this deep dive into how

Trump Slams "Brutal Dictator" Castro's "Legacy Of Firing Squads, Theft, Suffering And Poverty"

Two ***very*** different statements on Fidel Castro from and

TRUMP MEETINGS MONDAY: Sandeep Mathrani Paul Atkins Kathleen White Lou Barletta David L. Steward Scott Pruitt David A. Clarke John Allison

New Trump deputy natl security adviser wrote Putin is the one who "deserves that Nobel Peace Prize." with

Odds & Ends.....

Italy: Polls of shows a swing from Yes to No in Italy's constitutional referendum (Dec 4).

Indian Government Seeks To Quell Panic: "No Plan To Restrict Gold Holdings"

Egypt leadership (confidential) predicts the fall of internally due to Emirs dispute by the end of 2017

OIRS Spokesperson denied any involvement of US led coalition with Talafar airport hit against PMU Leaders

Rebels In East close to be split in half by SAA advance....

Al-Bab Battle MAP 26/11/16. North CS. &allies, advanced against IS. HD:

| energy minister Novak saturday: positive about global deal. has to reach consensus 1st before nonOPEC joins. reuters.

| min Zanganeh following Algeria meeting: Everyone has accepted Algiers decision. now discussing how to implement. shana.

| Boutarfa proposes to Zanganeh OPEC cut of 1.1mbd, nonOPEC 600kbd. gave country breakdown. Zanganeh now reviewing. via

head of Media at the Salv Gov been released after kidnapped for 100days

A month ago when some took over , other groups affiliated with actually supported them .

Interestingly, also claim a woman who was provided safe passage opened fire on their forces:

- forces captured 30 building blocks from in , amidst two suicide attacks

Mass protest today....

Estimate for participation in Saturday's protest - 1.2 million.

Oct 1, 2016- 323.41 million , Jul 1, 2016-322.69 million , Jul 1, 2015 -320.22 million , Jul 1, 2014-317.68 million. The data's off.1

Is it "fake news " to suggest there is a connection between HRC's election loss and the decision of Norway & Australia to slash C.F funding?

1/ One of my Banking sources passed me this internal document. More banks leaving R3. Funding stalled.

  1. R3 Loses Momentum, as JP Morgan Joins the Leave Camp
  2. Evidence has emerged that J.P. Morgan, Macquarie Group, and U.S. Bancorp join the R3 Leave camp, following similar news concerning Goldman Sachs, Santander, Morgan Stanley, and National Australia Bank. The R3 consortium loses momentum, as these seven players belong to the core founder team of 42 banks.
  3. Originally aimed at $200m, the current fundraising effort for the Distributed Ledger Group (DLG) lead by R3 has already cut its target to $150m, forced by the fact that other 21 banks have expressed limited support, commiting only to the minimum ticket of $1m.
  4. The total economic investment of the founder banks reach $56.5m so far, way below the target. In the Remain camp there are 12 banks with a commitment of $2.5m each, plus State Street at $2m and ING peaking at $3.5m investment.
  5. With increasing concerns about the sustainability of the R3 strategy, most of the current objections focus on poor first year results: no clear business case have been selected among  a pletora of ephemeral proof of concepts; moreover, skepticism about the Corda technological platform hold steady as R3 has refused to make it available to third party peer reviewing and auditing early in the process, commiting to open source it only at the end of this month, when the fund raising operation will be already sealed.
  6. Insiders suggest more banks might drop out of the R3 blockchain initiative in the next week, leaving in the consortium only those few innovation teams that have shared the press release spotlight in the recent months and the minor banks with no alternative blockchain strategy.
  7. R3 will have to tap into its larger group of members, beyond the original founders, trying to boost and save the Series A fundraising target for the DLG consortium.
  8. R3 Fundraing Orderbook - Indication of Interest from DLG members as of 11/21/16 (Subject to Internal Approvals)
  9. ING 3.5    
  10. Bank of America 2.5    
  11. Barclays    2.5    
  12. BBVA    2.5    
  13. Credit Suisse   2.5    
  14. HSBC    2.5    
  15. Intesa Sanpaolo 2.5    
  16. Natixis 2.5    
  17. Skandinaviska Enskilda Banken   2.5    
  18. Société Générale    2.5    
  19. UBS 2.5    
  20. Wells Fargo 2.5    
  21. Westpac Banking Corporation 2.5    
  22. State Street    2      
  23. Bank of Montreal (BMO Financial Group)  1      
  24. Bank of Nova Scotia (Scotiabank)    1      
  25. Bank of Tokyo-Mitsubishi UFJ (Mitsubishi UFJ Financial Group)   1      
  26. BNP Paribas 1      
  27. BNY Mellon  1      
  28. Canadian Imperial Bank of Commerce  1      
  29. Citigroup   1      
  30. Commerzbank 1      
  31. Commonwealth Bank of Australia  1      
  32. Danske Bank 1      
  33. Deutsche Bank   1      
  34. Mizuho Bank 1      
  35. Nomura  1      
  36. Nordea  1      
  37. Northern Trust  1      
  38. OP Financial Group  1      
  39. Royal Bank of Canada    1      
  40. Royal Bank of Scotland  1      
  41. Sumitomo Mitsui Banking Corporation 1      
  42. Toronto-Dominion Bank   1      
  43. UniCredit   1      
  44. Opted-out: Banco Santander, Goldman Sachs, J.P. Morgan, Macquarie Group, Morgan Stanley, National Australia Bank, and U.S. Bancorp