Friday, March 13, 2015

Austria's bad bank #HETA (former Hypo Alpe Adria) Developments in AT,DE

Developments after Austrian government declared it won't fill the financial gap discovered in HETA's books.

Austria Statistics reckons 'HETA hole' to be €4.6bn [Die Presse, Mar 30 2015]
(see Austria Statistics report on fiscal year 2014(ENG))
Austria won't leave Carinthia in lurch over Heta: Schelling [Reuters, Mar 27 2015]
Ice age between Germany and Austria re Heta billions [Reuters(DE), Mar 27 2015] 
BayernLB boss slams Austrian government  [TheLocalAustria, Mar 26 2015]
BayernLB posts 1.3 bln euro loss on Heta writedowns [Reuters, Mar 25 2015]
Austria, Banks And Sovereign Default  [F Coppola,Forbes, Mar 25 2015]
German insurer Talanx says Heta to hit Q1 earnings  [Reuters, Mar 23 2015]
Why Has Germany Bailed Out A Tiny Bank? [F.Coppola,Forbes, Mar 21 2015]
Austrian Banks Set for Fitch Downgrades on State Support  [Bloomberg,Mar 19 2015]
HETA: German banks & Austrian hypos are bleeding [DerStandard(AT), Mar 18 2015]
HETA drags Hypo Tirol into the loss zone [NZZ(AT), Mar 18 2015]
Chancellor Faymann defends HETA solution [KleineZeitung(AT),Mar 18 2015]
Liabilities of Austrian states higher than expected [DerStandard(AT), Mar 18 2015]
Debunking $1.4 Trillion Europe Debt Myth in Post-Heta Age  [Bloomberg, Mar 17 2015]
Government Promises and the Next Bank Crisis  [Bloombergview,Mar 17 2015]
Carinthia has its liabilities checked [Wirtschaftsblatt(AT),Mar 17 2015]
German banks' deposit guarantee fund saves Düsseldorfer Hypothekenbank [FAZ, Mar 16 2015]
Commerzbank exposure to HETA: €400m [DerStandard, Mar 16 2015]
Austrian states accept their liability up to €1.2bn [Kurier(AT), Mar 12 2015]
German Banks Emerging as Losers in Heta Wind-Down [Bloomberg, Mar 12 2015]
Carinthia: parliament united [ORF, Mar 12 2015]
Schaeuble wants to talk about HETA (in Vienna) [Wirtschaftsblatt, Mar 12 2015]
Bavaria doesn't rule out consequences for the budget [DerStandard(AT), Mar 12 2015]
Stop of debt payments invokes turmoil in Germany [Kurier(AT), Mar 12 2014]
(incl. list of German banks exposed to HETA)
German banks afraid of losing billions (>€5bn) [Kurier(AT), Mar 12 2015]
German Banks Have Large Exposures to Heta [Fitch Ratings, Mar 12 2015]
Heta Fallout Reaches DuessHyp as Fitch Sees Capital Gap Looming  [Bloomberg, Mar 11 2015]
Haider comes back to haunt Austria's finances [France24, Mar 11 2015]
Austrian FMA will impose "haircut" percentages, no negotiations w creditors [Kurier(AT), Mar 11 2015]
Fitch Places DHB's 'BBB-' IDR on RWN; Downgrades VR to 'c'  [Reuters, Mar 10 2015]

Heta Damage Spreads in Austrian Downgrades, German Losses [Bloomberg, Mar 9 2015]
Moody's downgrades State of Carinthia's rating to Baa3 from A2 and changes outlook to negative from stable  [Moody's, Mar 6 2015]
Dexia Kommunalbank has 395 mln euros of claims against Heta bad bank [Reuters, Mar 6 2015]
Fitch Affirms BayernLB's VR at 'bb+'  [Reuters, Mar 5 2015]
Austria to Ask Heta Creditors to Take Voluntary Losses [Bloomberg, Mar 3 2015]
Eurozone faces first regional bankruptcy as debt debacle stalks Austria's Carinthia[Telegraph, Mar 3 2015]

Kaiser (Carinthia's leader): "We can't steer this" [Kurier(AT) , Mar 3 2015]
What Do You Do When A "Bad Bank" Fails? [Frances Coppola, Mar 2 2015]
Will Austria lead Germany into another round of banking crises? [Shaun Richards, Mar 2 2015]



comments:

        (Carinthia's leader ('Landeshauptmann')) 


        (Bavarian finance minister)







note: as usual expect some updates during the next couple of days, stay tuned ...

Monday, January 26, 2015

Syriza party wins election in Greece - reactions re Greek debt

Greek election: Reaction to Syriza's victory - live updates  [Telegraph, Jan 26 2015]

Eurogroup 

Arrival and doorstep Eurogroup President (Dijsselbloem) [europa.eu, video, Jan 26 2015] [Dutch & English]


ECB

ECB cannot agree to debt relief for Greece, board member says  [Ekathimerini, Jan 26 2015]

IMF 

IMF set to continue support Greece after election [France24, Jan 26 2015]

EU 

Griechenland-Kompromiss: Juncker will die Troika abschaffen [Handelsblatt, Feb 1 2015]

EU's Moscovici : 'Place of Greece is in the eurozone' [interview,BBC,video, Jan 31 2015]




ESM/EFSF



Germany




Belgium

Ireland

Finland 

Portugal 

Portuguese strictly against a Greek debt cut  [DW, Feb 3 2015]


Spain 
Südeuropas Regierungen gegen Schuldenschnitt  [FAZ, Feb 1 2015]

Malta

Estonia 


Individuals 

Hold the celebrations: Greece is still doomed  [Telegraph, Jan 27 2015]


IW-Chef Hüther fordert Reformen "Sehe keinen Grund für Schuldenschnitt"  [N-TV, Jan 27 2015]



Expert: Finland won’t lose money if it agrees to extend Greek debt  [Yle, Jan 26 2015]



please note: more reactions from other EZ countries as soon as they become available 

Sunday, January 4, 2015

Greece:Latest (2015) debate on possible #Grexit after surveys suggest Syriza win

Facts & opinions  

Greek elections January 25
Greek polls frontrunner says win will start leftist change in Europe [AFP/Yahoo news, Jan 3 2015]
Former Greek PM Papandreou sets up new party, complicating election outlook [Reuters, Jan 2 2015]
Why You Should Care About Greece Again [Businessweek, Jan 2 2015]
As Early Elections Near, Greek Legislators Disband [NYTimes, Dec 31 2014]
In graphics: Greece's snap elections  [The Economist, Dec 30 2014]

'Grexit'
German government denies changing tack on Greece  [AP/Businessweek, Jan 4 2015]
Why Grexit would not help Greece G Wolff, Bruegel, Jan 6 2014]
Austria urges restraint re 'Grexit' debate [FAZ, Jan 6 2015] #
Why the Greek debt crisis stings a little less this time around  [Globe&Mail, Jan 6 2015] 

How Greece might avoid a Grexit  [The Economist, Jan 5 2015]
Germany Does Care About a Greek Exit  [Bloomberg View, Jan 5 2015] 

European Commission:"Eurozone membership irrevocable" [De Morgen, Jan 5 2015] *
Hollande: 'Greece must stick to EU commitments'  [The Local France, Jan 5 2015]
Carsten Schneider(SPD): "A mindless discussion" [DLF,Audio+text, Jan 5 2015] #
Sven Giegold(Greens):"Dangerous meddling in the Greek election campaign" [S G, Jn 5 2015] 
France: It's up to Greece to decide whether to leave euro [AP/Businessweek Jan 5 2015] 

Top economist (Bofinger) of a Greek exit [Die Welt, Jan 4 2015] #
Debt crisis: New debate about 'Grexit' [Sueddeutsche Zeitung, Jan 4 2015] #
Former EU Commissioner Rehn intends to reduce Greek debt burden [Der Spiegel , Jan 4 2015] #
Citi suggestion against looming deflation: ECB should use helicopter money [Der Spiegel, Jan 4 201] #
BUiter: Deflation article in the Lisbon Treaty is a disaster [BNR Radio, Jan 4 2014] *
All eyes on Berlin as ECB readies bond-buying scheme [Reuters, Jan 4 2015]
Germany Mistakenly Believes The Euro Could Survive Greek Exit  [Forbes, Jan 4 2014]
Greek leftist Tsipras says ECB cannot shut Greece out of stimulus  [Reuters, Jan 3 2014]
Germany believes euro zone could cope with Greece exit: report  [Reuters, Jan 3 2015]
The Cost of a Grexit  [Observing Greece (blog), Jan 4 2015]
Greek euro exit would be ‘Lehman Brothers squared’: economist [marketwatch, Jan 3 2015]
Yanis Varoufakis: Greek and European Prospects for 2015  [Naked Capitalism (blog), Jan 2 2015]




          EU-Kommission zu #grexit: "Eurozonen-Mitgliedschaft ist unwiderruflich."


















facts:
German bank exposure to Greece around 23.5 billion euros [Ekathimerini, Jan 5 2015]

market reactions:








useful, related links:
Syriza’s chief economist plots a radical Greek evolution within the eurozone  [Guardian, Dec 23 2014]
Top EU court looks into ECB bond buying [DW, Oct 14 2014]

please note: as always, compilation of links likely to grow in the near future


* = Dutch language
# = German language