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- ECB’s Tumpel-Gugerell: Delayed exit from accomodative monetary policy may contribute to excessive risk taking, large capital flows
- ECB Tumpel-Gugerell: Delay In Loose Monpol Exit Carries Risks
- ECB’s Bini Smaghi: Sovereign default or debt restructuring is “political suicide” which leads to poverty
- No clarity yet on what Greece would need under any new bailout package or if it is possible to provide one – Senior euro zone official
- ECB’s Bini Smaghi:Restructuring Public Debt Political Suicide
- Germany Bank Assn Sees 2011 German GDP Growth Of Nearly 3%
- ITALY DATA: March SA industrial output +0.4% m/m and.
- Greece denies report it is discussing new aid package – FinMIn official
- EUR/CHF slips back from session highs
- IMF is arranging 80-100 bln aid package to replace Greece’s existing bailout programme – Kathimerini reports
- Greece expects new package of 60 bln in aid covering financial needs into 2013 – Greek senior official
- New Greek deal could total 27 bln in 2012 – Dow Jones
- Swiss April CPI +0.1% m/m, +0.3% y/y
- Update:Bini Smaghi:Greek Debt Restructure Would Mean Collapse
- USD/JPY edging higher
- EUR/USD rallies
- FRANCE DATA: March industry output -0.9% m/m after…
- French March industry output -0.9% m/m
- SNB Hildebrand: Prefer CBank Cooperation To Global Safety Net
- ECB’s Bini Smaghi:Greek Debt Restructure Would Cause Collapse
| Posted: Exiting too late from fiscal stimulus risks triggering adverse adjustment in global asset prices Systemically relevant countries have special obligation for international cooperation They be hawkish comments. EUR/USD sits up at 1.4362.    |
| ECB Tumpel-Gugerell: Delay In Loose Monpol Exit Carries Risks Posted: ZURICH (MNI) - European Central Bank Executive Board member Gertrude Tumpel-Gugerell on Tuesday highlighted the risk in delaying the exit from loose monetary and fiscal policies. "A delayed exit from accommodative monetary policy after a recessionary period may contribute to excessive ...  |
| Posted: Prosperity of euro zone inextricably linked to success of euro Yuan should be in position to become major international currency if China allows fx flexibility, liberalises capital account  |
| Posted: Blow it out your ear. Any figures being circulated on size of extra Greek bailout package are wrong  |
| ECB’s Bini Smaghi:Restructuring Public Debt Political Suicide Posted: BERLIN (MNI) - ECB Executive Board member Lorenzo Bini Smaghi on Tuesday once again criticized plans for private sector involvement in the case of default of a Eurozone member state. In remarks prepared for delivery at a conference in Florence, ...  |
| Germany Bank Assn Sees 2011 German GDP Growth Of Nearly 3% Posted: BERLIN (MNI) - The German Banking Association (BDB) expects German GDP to grow by just under 3% this year despite growing risks and burdens for the economy. "The German economy is still very robust," the association said in its monthly ...  |
| ITALY DATA: March SA industrial output +0.4% m/m and. Posted: ITALY DATA: March SA industrial output +0.4% m/m and +3.1% y/y in workday adjusted terms, up from +2.4% y/y in February. - March unadjusted y/y output rose +0.8%, slowing from a +2.4% gain in February. --See details MNI main wire for more details.  |
| Greece denies report it is discussing new aid package – FinMIn official Posted: WTF!!!!! EUR/USD down at 1.4335. I bloody well give up........ Reuters reports Senior Finance Ministry official, who requested anonymity, saying "Greece is not holding any discussion on any new aid package" adding "Such reports about discussions on new aid are not true"  |
| EUR/CHF slips back from session highs Posted: Presently sits at 1.2610 having earlier got a high as 1.2632. Sources report real money and large Swiss corporate selling in recent trade.  |
| Posted: Kathimerini is Greek daily newspaper published in Athens. Reports Middle Eastern sovereign selling being seen in EUR/USD, helping slow rally. We're presently at 1.4362.  |
| Posted: Expected as early as next month. EUR/USD up at 1.4365. Talk China has been buying EUR/USD in recent trade.  |
| New Greek deal could total 27 bln in 2012 – Dow Jones Posted: Comment from senior Greek official. The above comment, rising bund yields, oil regaining ground all helping support EUR/USD. We're presently up at 1.4350. Oil off only 3/4's of a buck now.  |
| Swiss April CPI +0.1% m/m, +0.3% y/y Posted: Demonstrably weaker than median forecasts of +0.5%, +0.6% respectively. Whoops, SNB won't be overly happy. Strong swissy is helping build deflationary pressures. Increases likelihood of intervention to weaken swiss currency. EUR/CHF up at 1.2590 from around 1.2525 when I arrived. UPDATE: Also likely extends timeframe for any SNB monetary tightening  |
| Update:Bini Smaghi:Greek Debt Restructure Would Mean Collapse Posted: --Adds Further Comments From Newspaper Interview PARIS (MNI) - A debt restructuring by Greece would leave its economy in ruins, and Athens has wasted time considering it while its fiscal reform effort has faltered, European Central Bank Executive Board member Lorenzo Bini Smaghi said in a ...  |
| Posted: Presently at session high 80.66. Sources note buying from Japanese trust banks in recent trade.  |
| Posted: Amid talk of 07:00 GMT fix demand. Been well front run.  |
| FRANCE DATA: March industry output -0.9% m/m after… Posted: FRANCE DATA: March industry output -0.9% m/m after Feb +0.5% m/m (+0.4%) -- Below expected; MNI analysts survey median forecast +0.4% m/m -- 1Q industry output +2.1% q/q; 4Q +0.8% q/q -- March mfg output -1.0% m/m after Feb +0.9% m/m (+0.7%) -- For more information, please see MNI MainWire  |
| French March industry output -0.9% m/m Posted: Demonstrably weaker than median forecast of +0.4%. Manufacturing output -1.0%, demonstrably weaker than median forecast +0.4%.  |
| SNB Hildebrand: Prefer CBank Cooperation To Global Safety Net Posted: ZURICH (MNI) - Active cooperation among the world's central banks may be more effective in averting financial crises than trying to create a unified global system for liquidity provision, Swiss National Bank Chairman Philipp Hildebrand suggested Tuesday. "Apart from the ...  |
| ECB’s Bini Smaghi:Greek Debt Restructure Would Cause Collapse Posted: PARIS (MNI) - A debt restructuring by Greece would leave its economy in ruins, and Athens has wasted time considering it while its fiscal reform effort has faltered, European Central Bank Executive Board member Lorenzo Bini Smaghi said in a newspaper interview published Tuesday. ...  |
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