IEHI Feed: The Hedge Fund Implode-o-Meter http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-56523 Sat, 18 Apr 2015 23:06:58 GMT Draghi - Europe ready for Grexit contagion; Athens gets closer to Russian cash http://hf-implode.com/viewnews/2015-04-18_DraghiEuropereadyforGrexitcontagionAthensgetsclosertoRussiancash.html Mario Draghi, the ECB's president, said it would be far better for everybody if Greece recovers within EMU but made it clear that the currency bloc is no longer vulnerable to the immediate chain-reaction seen in earlier phases of the debt crisis.

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Greek sources have told The Telegraph that Syriza may sign a deal with Russia for Gazprom's "Turkish Stream" pipeline project as soon as next week, unlocking as much as €3bn to €5bn in advance funding.

This confirms a report in Germany's Spiegel magazine, initially denied by both the Russian and Greek governments. It is understood that the deal is being managed by Panagiotis Lafazanis, Greece's energy minister and head of Syriza's militant Left Platform, a figure with long-standing ties to Moscow.

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Bridging finance from the Kremlin would transform the situation, allowing Greece to avert a disastrous clash with the IMF. Syriza could then confine its dispute to EMU creditors and particularly to the ECB, the body deemed enemy number one by embittered Syriza ministers.

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iehi-feed-56522 Sat, 18 Apr 2015 00:39:54 GMT Greece enters twilight zone as visions of euro exit take shape http://hf-implode.com/viewnews/2015-04-17_Greeceenterstwilightzoneasvisionsofeuroexittakeshape.html iehi-feed-56521 Fri, 17 Apr 2015 16:48:51 GMT Bloomberg outage hits financial markets http://hf-implode.com/viewnews/2015-04-17_Bloombergoutagehitsfinancialmarkets.html iehi-feed-56520 Fri, 17 Apr 2015 16:43:21 GMT Greece fears hit stocks; IMF seen cutting growth outlook 'significantly' http://hf-implode.com/viewnews/2015-04-17_GreecefearshitstocksIMFseencuttinggrowthoutlooksignificantly.html iehi-feed-56518 Fri, 17 Apr 2015 13:03:39 GMT Greek Finance Minister Says European Bankers Pushing Nation Toward Default http://hf-implode.com/viewnews/2015-04-17_GreekFinanceMinisterSaysEuropeanBankersPushingNationTowardDefaul.html iehi-feed-56517 Fri, 17 Apr 2015 00:13:19 GMT The Russian Sanctions, Not Economy Are in "Tatters" http://hf-implode.com/viewnews/2015-04-16_TheRussianSanctionsNotEconomyAreinTatters.html iehi-feed-56516 Wed, 15 Apr 2015 13:36:24 GMT Oil layoffs hit 100,000 and counting http://hf-implode.com/viewnews/2015-04-15_Oillayoffshit100000andcounting.html iehi-feed-56515 Wed, 15 Apr 2015 13:33:32 GMT The inequality bubble is accelerating, worse than ‘29, even 1789 http://hf-implode.com/viewnews/2015-04-15_Theinequalitybubbleisacceleratingworsethan29even1789.html iehi-feed-56514 Tue, 14 Apr 2015 22:33:58 GMT "There Are Big, Big Problems" - The Shocker Crushing The Economy Revealed http://hf-implode.com/viewnews/2015-04-14_ThereAreBigBigProblemsTheShockerCrushingTheEconomyRevealed.html iehi-feed-56513 Tue, 14 Apr 2015 22:26:58 GMT China's economy: hard landing or welcome rebalancing? http://hf-implode.com/viewnews/2015-04-14_Chinaseconomyhardlandingorwelcomerebalancing.html ... the sharp decline in exports is to be welcomed as a sign that the rebalancing is working. But some analysts believe it is the latest sign that something is badly amiss. Erik Britton, of City consultancy Fathom, says its analysis, based on rail freight, electricity production and bank lending, suggests growth is running at closer to 3% than the 7% or so suggested by official GDP data. "China is in a hard landing now," he says. "They have faced a situation where their previous growth model is not working."

He points out that house prices are declining at 6% a year, compared with double digit growth a year ago -- similar to the kind of reversal that plunged the US into the sub-prime mortgage crisis. Furthermore, banks are saddled with non-performing loans and industries are struggling to tackle overcapacity''

He believes China will eventually have to accept a drastic depreciation in the renminbi, of perhaps 25%, in order to regain competitiveness and prevent a crash.

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iehi-feed-56512 Tue, 14 Apr 2015 21:17:57 GMT Shale Oil Boom Could End in May After Price Collapse http://hf-implode.com/viewnews/2015-04-14_ShaleOilBoomCouldEndinMayAfterPriceCollapse.html iehi-feed-56510 Tue, 14 Apr 2015 13:05:19 GMT JPMorgan Profit Rises 12% on Gains From Stock, Bond Trading http://hf-implode.com/viewnews/2015-04-14_JPMorganProfitRises12onGainsFromStockBondTrading.html iehi-feed-56509 Tue, 14 Apr 2015 13:02:01 GMT Why Your Rent Will Rise Again This Year http://hf-implode.com/viewnews/2015-04-14_WhyYourRentWillRiseAgainThisYear.html and rent expensive pied-a-terres....]]> iehi-feed-56508 Tue, 14 Apr 2015 12:59:00 GMT Wells Fargo Beats Estimates as Lower Rates Spur High-End Mortgage Lending http://hf-implode.com/viewnews/2015-04-14_WellsFargoBeatsEstimatesasLowerRatesSpurHighEndMortgageLending.html iehi-feed-56507 Tue, 14 Apr 2015 12:53:44 GMT Central bankers gather privately in Washington this Friday to discuss gold http://hf-implode.com/viewnews/2015-04-14_CentralbankersgatherprivatelyinWashingtonthisFridaytodiscussgold.html iehi-feed-56506 Tue, 14 Apr 2015 12:51:04 GMT "We Have Come To The End Of The Road" - Greece Prepares For Default, FT Reports http://hf-implode.com/viewnews/2015-04-14_WeHaveComeToTheEndOfTheRoadGreecePreparesForDefaultFTReports.html iehi-feed-56505 Tue, 14 Apr 2015 12:49:49 GMT The Shanghai International Gold Exchange Comes To Life http://hf-implode.com/viewnews/2015-04-14_TheShanghaiInternationalGoldExchangeComesToLife.html iehi-feed-56504 Mon, 13 Apr 2015 22:26:22 GMT Japan Gov. Has Revised Away Inflation Since 2014 -- An Excuse for Unhinged Money-Printing? http://hf-implode.com/viewnews/2015-04-13_JapanGovHasRevisedAwayInflationSince2014AnExcuseforUnhingedMoney.html iehi-feed-56502 Mon, 13 Apr 2015 13:36:15 GMT Greece may have blown best hope of debt deal http://hf-implode.com/viewnews/2015-04-13_Greecemayhaveblownbesthopeofdebtdeal.html Since outright debt forgiveness is politically impossible, the next best solution would be for Greece to pay off its expensive IMF loans early, redeem bonds held by the European Central Bank and extend the maturity of loans from euro zone governments to secure lower interest rates for years to come.

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But if the economics make sense for Greece, the politics no longer add up for its partners.

A euro zone official said there had been exploratory talks with the previous conservative-led Greek government about such a plan last year, before then Prime Minister Antonis Samaras chose to bring forward an election he lost rather than complete a bitterly unpopular bailout program.

"Now it's a political non-starter," said a euro zone official. "There's just no appetite in the euro zone for a grand bargain to take over Greece's debt to the IMF and the ECB."

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iehi-feed-56501 Mon, 13 Apr 2015 13:34:35 GMT Bundesbank Tells German Heta Creditors: Expect to Lose Half http://hf-implode.com/viewnews/2015-04-13_BundesbankTellsGermanHetaCreditorsExpecttoLoseHalf.html