United Kingdom

A Home Office decision to deport 92 year old widow has sparked public outcry. Myrtle Cothill is unable to care for herself and was hoping to stay in the UK with her daughter, but instead has been ordered to return to her native South Africa. Update: Following the massive public outcry Myrtle has won a “stay of execution” after the Home Office cancelled a planned deportation According to the Guardian, immigration enforcement officials had booked Cothill on a Virgin flight to Johannesburg on Tuesday night but rang her lawyers late on Friday to say her booking had been cancelled.

Via GEFIRA,

If London decides to leave the European Union nobody in Europe will even notice. Great Britain is an entirely separate country, isolated from the European Union and does not participate in the Euro or Schengen Agreement. The European Union as a political platform is disintegrating and becoming more and more irrelevant and will be displaced by the European Monetary Union (EMU).

"I was here till 5 o'clock this morning working through this and we've made some progress but there's still no deal.”

That’s from British PM David Cameron, who was apparently up all night in an effort to understand why his country should stay in the EU. Unless Cameron hears what he wants to hear, he will not campaign for the UK to remain in the bloc ahead of an expected referendum on membership in June.

• Stocks knocked back as oil rally falters (Reuters)
• Still no deal for Britain on EU reforms after all-night talks (Reuters)
• Oil Falls Near $30 as Rising U.S. Crude Stockpiles Expand Glut (BBG)
• PBOC to Raise Reserve Ratios for Banks That Don't Meet Criteria (BBG)
• China’s Top Securities Regulator to Step Down (WSJ)
• Excessive loosening of China's monetary policy would increase yuan pressure (Reuters)
• Tough road for Venezuela after dire data, inadequate measures (Reuters)

Not even this morning's mandatory European open ramp has been able to push US equity futures higher, and as a result moments ago the E-mini hit session lows on rising concerns about Brexit as talks drag on in Brussles, but mostly as a result of overnight confusion about China's loan explosion and whether the PBOC has lost control over its maniacally-lending banks.