Greece – so big European finance ministers meeting later today. Nice article highlighting the key Greece dates going forward (paywall):
Thursday June 18: Best chance for a deal
Friday June 19: The morning after
Sunday June 21: Possible emergency summit
June 22 onward: Worst-case scenarios
June 25: Any other business
June 30: Expiration date
July 1: Uncharted territory
July 20: Drop-dead deadline
Greece #2 – Perhaps influenced by continued Greek deposit outflow (€320 mln on Mon, €500 mln on Tue and €950 mln Wed), the Greek central bank is ‘playing with political fire’ but publicly falling out with the Greek government as per this link. I would kind of agree...
Meanwhile talking about Greece...the best FT letters today – Grexit, coup d’etat, James Dean’s death playing chicken…
China - via @HaidiLun the interesting observation that 'China bears growling loud today. BAML- biggest bubble since 2000, 30% fall when it bursts. CS- recovery a 'mirage', A-share crash in 6 mths'.
Meanwhile this morning property prices better today…not so negative...
...and better property prices led to this lunacy:
More Shenzhen owners decide to cancel deals as home prices continue to rise
Homebuyers sue vendors over cancelled deals after policy support measures fuel rebound
Talking about China a good chart on emerging markets/China/steel from today's FT:
The Shanghai bourse after its greater run is consolidating below the 5,000 index point level:
Fantastic – how many ‘clever’ people got this wrong!