ESM - GREECE

The ESM board will decide on Friday whether Greece has met requirements for the approval of the pending EUR 1bn loan tranche of the third review. Note that the funds will be available until June 15, with the disbursement being subject to the repayment of state arrears in a specific period and the implementation of e-auctions in all of Greece’s regions (not only in Attica). According to press reports, although Greece appears to have missed the targets for state arrears clearance, country’s creditors will probably give the green light (the issue will discussed at today’s EWG) in order not to create problems ahead of country’s exit of the programme. 

Comments

Post a Comment

Popular posts from this blog

PPC

According to electricity market operator’s (LAGIE) latest report for electricity market,  PPC’s retail market share  in April fell to 82% from 82.75% in March. The three largest independent retailers (Heron 3.98%, Elpedison 3.63% and Mytilineos 3.72%) witnessed small changes in their market shares.  Recall that PPC’s market share (according to targets set by the MoU signed between Greece and foreign creditors) should fall below 62.24% by the end of 2018 and below 50% by the end of 2019, however it is likely that these targets will be revised upwards as creditors appear to accept Energy Ministry’s proposal to exclude HV and energy intensive MV customers from the market share calculation.
Read more

Italy

Image
Good morning from Italy , a stock market developing country. Although Italy is still the 8th largest econ in the world, all Italian shares combined are worth just $602bn. That's less than the mkt cap of Facebook ($690bn), and only about a third of Apple's mkt cap of $1.7tn.
Read more

The world’s money and markets, from the smallest to the biggest

Derivatives top the list, estimated at $1 quadrillion or more in notional value according to a variety of unofficial sources. Category Value ($ Billions, USD) Source Silver $44 World Silver Survey 2019 Cryptocurrencies $244 CoinMarketCap Global Military Spending $1,782 World Bank U.S. Federal Deficit (FY 2020) $3,800 U.S. CBO (Projected, as of April 2020) Coins & Bank Notes $6,662 BIS Fed's Balance Sheet $7,037 U.S. Federal Reserve The World's Billionaires $8,000 Forbes Gold $10,891 World Gold Council (2020) The Fortune 500 $22,600 Fortune 500 (2019 list) Stock Markets $89,475 WFE (April 2020) Narrow Money Supply $35,183 CIA Factbook Broad Money Supply $95,698 CIA Factbook Global Debt $252,600 IIF Debt Monitor Global Real Estate $280,600 Savills Global Research (2018 est.) Global Wealth $360,603 Credit Suisse Derivatives (Market Value) $11,600 BIS (Dec 2019) Derivatives (Notional Value) $558,500 BIS ...
Read more