Greece

Lawmakers in the European Parliament have sharply condemned the latest Greek bailout deal - reached after weeks of negotiations - which they say will lead to "Social Armageddon" and "too high a price to pay." As SputnikNews reports, heated exchanges over the state of play of the Greek macro-economic adjustment program were seen in the European Parliament this week, and divisions are also very evident within the Troika itself as obvious need for debt relief (IMF) is scuttled by Germany and the Eurogroup.

Following months of appeasement of Turkey's dictator Recep Erdogan, Europe has found itself surprised that as it yields to every incremental demand, Turkey simply asks for more and more. One such example was chronicled by the FT earlier today in "Turkey demands EU hands over €3bn for refugees" in which we read that "a row has erupted between Turkey and the EU over billions of pounds in aid for Syrian refugees, casting fresh doubt on a fragile deal to halt the flow of people towards Europe."

Despite having Goldman Sachs CEO Lloyd Blankfein as an investor and being Bill and Hillary Clinton's son-in-law, Marc Mezvinsky (and two former colleagues from Goldman Sachs who manage Eaglevale Partners hedge fund) told investors in a letter last February they had been "incorrect" on Greece, generating staggering losses for the firm’s main Eaglevale Hellenic Opportunity, a/k/a the "Greek recovery" fund during most of its life. By 'incorrect' the Clinton heir apparent meant the $25 million Eaglevale Greek fund had lost a stunning 48% in 2014.

Submitted by Mike Shedlock via MishTalk.com,

In the wake of an IMF threat to back out of the Troika deal with Greece, Germany blinked under the IMF pressure.

Well, sort of.

The result was not quite the debt relief the IMF wanted, but it was more than Germany was prepared to offer yesterday.

Please consider Berlin Opens Way to Greek Debt Relief Talks.

In what has been an approximate repeat of the Monday overnight session, global stocks and US futures rose around the world as oil prices climbed toward $44 a barrel, with risk-sentiment pushed higher by another plunge in the Yen which has now soared 300 pips since the Friday post-payroll kneejerk reaction, and was trading above 109.20 this morning.