JUL 20 SIT EC y POL
LATEST NEWS FROM RT & EURO.news
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http://www.rt.com/business/310274-greece-imf-payment-default/
Published time: 20 Jul, 2015
The IMF has confirmed it has received about €2 billion from
Greece, which means the country is no longer in arrears. The Greek Finance
Ministry has said it started payment of €6.8 billion to the IMF and the ECB.
“I can confirm that Greece today repaid the totality of
its arrears to the IMF, equivalent to SDR 1.6 billion (about EUR 2.0 billion),”
Gerry Rice, Director of Communications at the IMF said on Monday in a statement.
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2-
Athens set to repay ECB and IMF
loans GREECE - 20/07. EURO.news
It has been a day of furious financial activity in Athens
including the government writing two significant cheques – a sign, believe many
the country is slowly getting back to normal.
Finance ministry officials confirmed to media sources the
process for the repayment of billions of euros to two creditors.
Four point two billion euros in principal and interest is on
its way to the European Central Bank – meeting Monday’s deadline.
The International Monetary Fund will get the 2.05 billion
euros it is owed but late after Greece became the first
developed country to default on an IMF loan.
The International Monetary Fund will get the 2.05 billion
euros it is owed but late after Greece became the first
developed country to default on an IMF loan.
The money sent across to the IMF’s Washington headquarters
covers the 1.6 billion repayments due in June plus a second due last week.
It’s understood the government is also repaying a 500
million euro loan to the Greek central bank.
Splashing the cash has been made possible due to the country’s
7.16 billion bridging loan coming on tap.
That will be enough to see Athens
through July and the opening of new negotiations and a third bailout programme.
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ZERO HEDGE
General
Wesley Clark Suggests Putting "Disloyal Americans" In Internment
Camps. S- by Tyler
Durden on 07/20/15
"If these people are ... disloyal to the United
States, as a matter of principal that’s fine, that’s their right... It’s
our right and our obligation to segregate them from the normal community
for the duration of the conflict."
[ In my concept of
disloyalty to our nation, General Wesley Clark is the 1st one that
should go in Internment Camp after a rehab in a psychiatric clinic ]
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The
Greek Economy Is Finished! A Quarter Of Firms Shifting Abroad. S- by Tyler
Durden on 07/20/15
Capital controls imposed by the Greek government are
taking a heavy toll on Greek businesses, according to a
new report from Endeavour Greece. With over two-thirds of respondents
reporting a "significant drop in revenues," and 1 in 9 firms forced
to suspend production due to shortages of raw materials (unable to buy due to
capital controls), the problems created by The Greek government's action seem
asymmetric as almost a quarter (23%) of firms are now "planning to
transfer their headquarters abroad for security, cashflow, and stability
reasons."
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Charting
The Slow, 30-Year Death Of The US Middle Class In A Global Context. Submitted
by Tyler Durden on 07/20/2015
While we have shown previously that over the past 30 years median
incomes in the US have barely grown (indicative of a middle class whose
income has been largely stagnant for some 35 years), we have never before shown
just what how this middle class "stasis" looks like in
comparison to other developed nations. Now, thanks to Max Roser and "Our world in
Data", we know. Sadly, in this particular sample of median income
growth since 1980, the US is dead last, behind such countries as the UK, Canada
and even Spain and France!
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95%
Of The Real Estate Market In Greece Is "All Cash". Submitted
by Tyler Durden on 07/20/2015
"At least 50% of real estate
agents have closed down."
"The market is only those
who can afford to pay cash."
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Martin
Armstrong: "Little By Little These People Are Destroying Everything That
Made Society Function". Submitted by Tyler
Durden on 07/20/2015
"We seriously need to hit the Cntrl-Alt-Delete
button on government. This is total insanity and we are losing
absolutely everything that made society function. Once they eliminate CASH,
they will have total control over who can buy or sell anything."
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Can
U.S. Nuclear Plants Operate For 80 Years? Submitted by Tyler Durden on 07/20/2015
The nuclear industry in the United States has been at a
standstill for several decades. After an extraordinary wave of construction
in the 1960s and 1970s, the nuclear industry ground to a halt. Operating nuclear
reactors for 80 years may be feasible, but wear and tear cannot only raise
safety questions, but constant maintenance can make them economically unviable.
Cracks can form in plants as they age, forcing the plant offline. The cost
of repairs have already forced some power plants offline for good. The San
Onofre plant in California, for example, was shut down by
Southern California Edison after the bill to repair leaks ballooned. Duke
Energy closed a reactor at its Crystal River power plant in Florida as repair
costs got out of hand. Such incidents could be more frequent in the
years ahead. But if the industry gets its way, some plants could operate
well beyond their current 60-year licenses.
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Obama's
Goals For Middle East Hinge On Putin. Submitted by Tyler
Durden on 07/20/2015
Even after a few weeks have passed, the unexpected visit of
the Saudi Deputy Crown Prince to the St. Petersburg Economic Forum still has a
lot of people scratching their heads. The news is full of widespread and
contradictory theories,
while questions abound. Why had the Saudis accepted an invitation from a
country sanctioned by the U.S., its oldest and strongest ally? It is
still a bit early for all the pieces to neatly fit together but now, after the
dust has settled somewhat, a pattern seems to be emerging that may explain the
situation.
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Greeks Get First Look At Their Future: Long Bank Lines And Punishing Taxes. Submitted by Tyler Durden on 07/20/2015
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Greek
"Hell" Remains After Athens Uses Creditor Money To Repay Creditors.
S- by Tyler Durden on 07/20/15
As we showed
before when we showed the various Greek circle of debt hell, unless Greece
finds a way to access the market once again following its "triumphal
return" in mid-2014 when it issued bonds that cost investors (with other
people's money) their 2015 bonus, it is only then that the Greek debt repayment
hell begins.
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Submitted by Tyler
Durden on 07/20/2015 - 07:26
- Gold Plunges to Lowest Since 2010 (BBG)
- In Greek crisis, one big unhappy EU family (Reuters)
- Greek Banks Reopen Their Doors (WSJ)
- Greek reshuffle hints at autumn election (FT)
- Angela Merkel signals conditions for Greek debt talks (FT)
- Dollar hits three-month high on rate view, pans gold (Reuters)
- History Shows Iran Could Surprise the Oil Market (BBG)
- ‘Charlie Hebdo’ Will Cease Publishing Cartoons of Prophet Muhammad (Newsweek)
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Futures
Levitate After Greek Creditors Repay Themselves; Commodities Tumble To 13 Year
Low. Submitted by Tyler Durden on 07/20/2015
Today's action is so far an exact replica of Friday's
zero-volume ES overnight levitation higher (even if Europe's derivatives
market, the EUREX exchange, did break at the open for good measure leading to a
delayed market open just to make sure nobody sells) with the
"catalyst" today being the official Greek repayment to both the ECB
and the IMF which will use up €6.8 billion of the €7.2 billion bridge loan the
EU just handed over Athens so it can immediately repay its creditors. In other
words, Greek creditors including the ECB, just repaid themselves once again.
One thing which is not "one-time" or "non-recurring" is the
total collapse in commodities, which after last night's precious metals flash
crash has sent the Bloomberg commodity complex to a 13 year low.
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RT, SPUTNIK & LATEST SHOWS
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