by Bill McBride on 6/08/2015 08:35:00 PM
Monday, June 08, 2015
The endless Greek tragedy continues, from the WSJ: Greece, Creditors Discuss Extending Bailout in Bid to Break Deadlock
The eurozone’s portion of Greece’s €245 billion ($276 billion) rescue program runs out at the end of June, raising questions over how Athens will pay off its debt beyond this month and remain in Europe’s currency union. ...Tuesday:
A nine-month extension would help carry Athens over its current funding gap. It would also give both Prime Minister Alexis Tsipras and his country’s creditors—the eurozone and the International Monetary Fund—more time to chart a new path for Greece’s economy. But it leaves open questions over whether the government would, indeed, be able to finance itself beyond March, or need even more support.
To help keep Greece solvent over the proposed bailout extension, Greece would receive financing from some €10.9 billion in aid money that had originally been set aside to prop up Greek banks, three people familiar with the negotiations said.
• At 9:00 AM ET, the NFIB Small Business Optimism Index for May
• At 10:00 AM, the Job Openings and Labor Turnover Survey for April from the BLS. Jobs openings decreased in March to 4.994 million from 5.144 million in February. The number of job openings were up 19% year-over-year in March, and Quits were up 14% year-over-year.
Posted by Bill McBride on 6/08/2015 08:35:00 PM