World economy talk

[Monseratto]

Finland is still insisting on collateral... malabo.

Third, Finland is pressing ahead with its demand for collateral in exchange for supporting the second aid package for Greece. This is potentially disruptive because other countries may object to Finland's special treatment and may seek collateral themselves. Recall that last year Finland struck a deal to get extra assurances in exchange for funding ESM up front.

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www.presstv.ir/detail/226807.html

In response to the latest sanctions imposed by the EU against Iran's energy and banking sectors, the Islamic Republic has cut oil exports to six European countries.

Iran on Wednesday cut oil exports to six European countries including Netherlands, Spain, Italy, France, Greece and Portugal.

[uls]

Brent $119+

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Greece is being forced out of eurozone, Venizelos claims | World news | The Guardian

Greece rounded bitterly on its EU paymasters when the finance minister and socialist leader, Evangelos Venizelos, accused the eurozone of deliberately changing the terms of a proposed €130bn (£110bn) bailout because key players wanted to kick the country out of the single currency.

The charge that some eurozone countries were seeking to engineer a Greek sovereign default and exit from the euro deepened the rancour between debtor and creditors in the dangerous standoff."There are many in the eurozone who don't want us any more," Venizelos declared at a meeting with President Karolos Papoulias. "We are constantly being given new terms and conditions."

[Ry_Tower]

Brent $119+

Yeah, upward trend pa nga.

[Monseratto]

The human cost...Greek society on the brink.

An employee of the Workers Housing Organisation threatens to jump from the office where she worked because her wage has been cut and she and her husband were threatened with layoffs, in Athens February 15, 2012. Workers Housing Organisation is a state owned company that is on the list of state entities that may be shut down to cut costs under the terms of the new 130-billion-euro ($170 billion) bailout agreement with the European Union and International Monetary Fund.

The Troika wanted to delay again the 2nd tranche after questions were raised regarding the April elections in Greece. They were suggesting to call it off to give the present goverment time to implement reforms. They simply don't trust the Greeks will keep to their part of the bargain...

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Brent $120

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UPDATE 1-ECB to swap Greek bonds to avoid forced losses -sources | Reuters

FRANKFURT, Feb 16 (Reuters) - The national central banks in the euro zone are set to exchange their holdings of Greek bonds into new bonds in the run up to a private sector debt deal to avoid taking any forced losses, euro zone sources said on Thursday.

Whaaat?!

so the ECB is above private sector bondholders?

hey everybody owns the same stuff

what makes the ECB's holdings different?

private sector bondholders arent gonna be happy about this

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ECB considers losses on Greek bonds held by national banks | Reuters

(Reuters) - The European Central Bank is weighing up whether to allow the Greek bonds held in national euro zone central banks' investment portfolios to be subjected to the same writedowns private investors are set to take, central bank sources told Reuters.

why should private sector bondholders be the only ones taking losses?

Swallowing writedowns on at least some of the Greek bonds the ECB and central banks own could also help allay concerns bond holders may have had following news that the ECB has cut a deal to protect its purchase program from Greek losses.

Economists argue that the move set in stone the idea that the ECB is receiving preferential treatment in the bond market, something that could put off investors from buying Portuguese, Irish, Italian and Spanish bonds - debt the ECB also holds.

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PressTV - Iran cuts oil exports to British, French firms

Iran’s Oil Ministry announces it has cut oil exports to British and French firms in line with the decision to end crude exports to six European states.