Pubblicato il 22 Maggio 2012 da Veronica Baker
Greek PASOK leader Venizelos has finished now a meeting with Hollande.
Here the most important headlines:
- He said Hollande wants to help Greece.
- Venizelos proposes extending the Greek program up to 3 years
- There is no more room from wage and pension cuts.
- Secret Eur 100 bln aid props up Greek Banks
German disagrees , of course :
EU’s Rehn Building The Eurobond Roadmap
- Says the idea of eurobonds requires a medium to long-term outline
- Need to consider how to deepen economic and political integration
- Greece needs to implement reforms, there is no other way
And US are getting the most benefit from the situation :
Existing Home Sales Hit Highest Since May 2010
- +3.4% vs +2.9% exp in April
- March revised down to -2.8% from -2.6%
- Pace of 4.62m is in-line with 4.61 exp
Even if JPM seems to be “in a little trouble” :
JP Morgan losses may exceed $7 bln ,
And spanish banks have surely larger losses than expected :
Spanish bank losses could be as high as E260 bln – UK Telegraph
Fitch in the night has downgraded Japan :
Fitch cuts Japan’s long term rating to A+ with a negative outlook
And what about QE3?
Apparently no one wants , but in the short term surely something will happen :
- IMF’s UK review… BOE should cut rates and introduce further QE
- UK April CPI +0.6% m/m, +3.0% y/y (expected 0.6% and 3.1%), lowest y/y since Feb 2010
- OECD says Fed shouldn’t abandon QE
And Feisbuc ?