European Union

Tyler Durden's picture

On The Floridian Clod & Hillary Is The New Nixon





"...a bigger bundle of platitudes and insincerities has not been served up since the heyday of Nixon. As the politicians are so fond of saying these days, make no mistake, Hillary is the New Nixon."

 
Tyler Durden's picture

Frontrunning: June 15





  • Tsipras Hardens Greek Stance After Collapse of Talks (BBG)
  • Obama Fights to Save Trade Bill (WSJ)
  • German Stock Market Pain Seen Just Beginning Should Greece Exit (BBG)
  • Russia to boost forces in western flank if U.S. stations arms in east Europe (Reuters)
  • Lab Nears Settlement Over Pricey Medicare Drug Tests (WSJ)
  • China's $358 Billion in Margin Loans Points to Next Bear Market (BBG)
  • Draghi Faces EU Court Ruling on 2012 Bond Plan as Greece Teeters (BBG)
  • Sex, lies and debt potentially exposed by U.S. data hack (Reuters)
 
Tyler Durden's picture

European Stocks Slide, Greece Tumbles But US BTFDers Emerge After Collapse In Greek Bailout Talks





European shares remain lower, close to intraday lows, with the banks and autos sectors underperforming and food & beverage, retail outperforming. Tsipras hardens Greek stance after collapse of bailout talks. The Italian and Swedish markets are the worst-performing larger bourses, the U.K. the best. The euro is weaker against the dollar. Greek 10yr bond yields rise; Spanish yields increase. Commodities decline, with copper, nickel underperforming and natural gas outperforming. U.S. Empire manufacturing, net TIC flows, NAHB housing market index, industrial production, capacity  utilization due later.

 
Tyler Durden's picture

Greece Refuses To Blink; EU Says Noncompliance "Not An Option"





On the heels of what appeared to be an ultimatum from EU creditors, Greece remains defiant on pension cuts and a VAT hike, testing the troika's resolve as the countdown to the next maybe-deadline continues. Meanwhile, Germany warns that Grexit could embolden EU "separatist" movements and Dijsselbloem reminds Tsipras that noncompliance isn't an option.

 
Tyler Durden's picture

Frontrunning: June 12





  • Razor-edge U.S. Congress vote to decide fate of Obama Pacific trade pact (Reuters)
  • EU Readies for Default as Tsipras Drives Greek Finances to Brink (BBG)
  • Greece Can’t Plan a Barbecue, Let Alone a Currency, Nielsen Says (BBG)
  • IMF quits Greece talks amid ‘air of unreality’ as deal unravels (FT)
  • Greece Counts Cost of One Man's Gamble (BBG)
  • Merkel urges Greece and creditors to keep pushing for deal (Reuters)
  • Fearful ECB starts countdown on Greek funding lifeline (Reuters)
  • Greek stocks suffer further pummelling (FT)
 
Tyler Durden's picture

Europe Gives Greece 24 Hours To Comply; Germany Draws Up Capital Control Plans





"Greece was warned by a group of European Union officials in Brussels it had less than 24 hours to come up with a serious counter-proposal," Bloomberg says. Meanwhile, Reuters reports that Germany is "holding 'concrete consultations' on what to do in the case of a bankruptcy of the Greek state."

 
Tyler Durden's picture

Gazprom Seeks A Way Around Ukraine By 2019





Gazprom has vowed to entirely cut out Ukraine as a transit hub for natural gas exports to Europe. “We will not export gas via Ukraine after 2019. The customers will get gas at (newly) agreed delivery points,” Gazprom’s Deputy CEO Alexander Medvedev said on June 9.

 
Tyler Durden's picture

Frontrunning: June 11





  • Pope urges Putin to make 'sincere, great effort' for Ukraine peace (Reuters)
  • Merkel Tells Tsipras It’s Time to Back Talk With Policy Action (BBG)
  • 'Greek tragedy' needs happy ending now: EU's Moscovici (Reuters)
  • Vulture Funds Circle Greece Targeting Europe’s Best Trading Bet (BBG)
  • Germany against third aid program for Greece under any circumstances, says daily (Reuters)
  • Biggest OPEC Members Pump Record Oil With Rally in Jeopardy (BBG)
  • Greek ruling reversing pension cuts will cost state 1 to 1.5 bln euros (Kathimerini)
  • China’s Former Security Chief Zhou Yongkang Sentenced to Life in Prison (WSJ)
  • MSCI backs itself into corner on China share inclusion (Reuters)
 
Tyler Durden's picture

Why Greece Must Leave





Greece should get out as fast as it can, all member countries should, especially the poorer ones. There is no benign or even economically viable future for any of them in the Union. A future inside the union is infinitely more frightening than one outside. What is evident by now is that the troika creditors don’t come to the table to negotiate, they come to impose their will. And those countries that carry the most debt are most vulnerable to the threats flung across the table. If you don’t get out, in time Germany will decide what you can eat, what your children learn in school, and how you are to behave. You will no longer live in sovereign nations.

 
Tyler Durden's picture

Greek Economy In "Doomsday" Tailspin: 59 Businesses, 613 Jobs Lost Each Day, Suppliers Demand Cash Up Front





While the Greek government has wasted the past 4 months experiment with game (and hope) theory-based negotiations with the Troika, debating what reforms it should implement, what the budget surplus should be, and how much of a pension and wage haircut the local workforce should undergo just to keep the trickle of European money flowing and "allow" the IMF to repay Greek IMF obligations and the ESM to repay the ECB, the Greek economy has slammed into a brick wall because according to Greece's retailers association, about 59 businesses close down and some 613 jobs are being lost each day.

 
Tyler Durden's picture

Frontrunning: June 8





  • White House denies Obama said strong dollar a problem (Reuters)
  • Lira Falls to Record Amid Stock Rout as AK Party Loses Majority (BBG)
  • Bond-Market Game of Chicken With Fed Is Riskier Than Ever (BBG)
  • Xetra Dax enters correction territory (FT)
  • China trade shrinks amid slowing demand (FT)
  • Greek government eyes compromise with lenders, rules out snap polls (Reuters)
  • If You Think Greece’s Crisis Will End Soon, Think Again (BBG)
  • China growth data ‘overstated’ due to data error (FT)
  • Calpers to Cut External Money Managers by Half (WSJ)
 
Phoenix Capital Research's picture

The European "Template" For Dealing With Crises: Freezing Accounts, Bank Holidays, and Capital Controls…





More and more analysts are beginning to take note of the “War on Cash.” However, they’re missing the fact that the actual template for what’s coming to the US first appeared in Europe back in 2012.

 
Tyler Durden's picture

Cold War 2.0 Heats Up: Washington Dusts Off Russia "Containment" Plans





Amid escalating violence in Ukraine,"the Obama administration officials are considering new deterrence strategies to rein in Russian meddling in Europe, in what some say would amount to an updated version of Cold War-era containment," WSJ reports.

 
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