IMF tells  Japan needs to bring back Abenomics – 

Japan is on the receiving end of a warning from the International Monetary Fund (IMF) about the risk of slow growth, stagflation and a new round of turmoil in financial markets. The IMF has urged Japan to “reload” its Abenomics reforms to prevent this from happening.  Currently the Bank of Japan  quantive easing ¥80 trillion ($712 billion)  the same as the  GDP of the Netherlands , an extra 10 Trillion  in my option would weaken the yen by 5/7% and the Nikkei rise by 9/11%…

According to the Financial Times, IMF economists have said that Japan is seeing a modest recovery at the moment and that there would be annual growth of 0.8% by the end of the year, followed by 1.2% in 2016. However, the economy is fragile, the report states. 

This is because imperative structural reforms required to bring the economy out of its slow growth and back on track have stalled and it comes at a time when Japan’s public debts were expected to hit 250% of GDP over the next five years. 

The Bank of Japan has also been told that it needs to be ready to ease monetary policy further and do a better job of communicating its intentions to markets as inflation – which they forecast would hit 0.7% this year – continued to rise more slowly than expected towards the central bank’s 2% target. 

Overall the IMF offered a sobering assessment of Prime Minister Shinzo Abe’s efforts to revive the Japanese economy, arguing that his reforms were failing to deliver as promised. 

  

JPMorgan predict Grexit, as Goldman Sachs hold on Greece staying in Eurozone 

Economists from JPMorgan Chase & Co. to Barclays Plc believe that a Greek departure from Europe’s monetary union is imminent, whilst economists at Goldman Sachs Group Inc. and Citigroup Inc. believe that there are ways it can remain within the bloc. Personally I also believe that Greece will stay in the Euro as what is the other options for them ? They can’t go to the IMF as they allready in “default” .
Investors are reconsidering the odds on Greece’s membership of the euro after voters used Sunday’s referendum to scrap the austerity needed to secure international aid. 

Even so, forecasts of a so-called Grexit over five years of crisis have so far come to nothing as European authorities have frequently acted to keep the bloc whole. 

“Although the situation is fluid, at this point Greek exit from the euro appears more likely than not,” Malcolm Barr, an economist at JPMorgan in London, said in a report, adding it could come “under chaotic circumstances.” 

“Exit now is the most likely scenario,” Barclays analysts said in a separate report. “Agreeing on a program with the current Greek government will be extremely difficult for euro- area leaders, given the Greek rejection of the last deal offered, and will be a difficult sell at home.” 

Morgan Stanley said that its analysts now calculate there is a 75% chance Greece leaves, up from 60% a week ago. BNP Paribas SA said the likelihood is at 70%, up from 20%. Societe Generale SA put it at 65%.

Goldman Sachs repeated that it still sees the euro area remaining a region of 19 countries despite the vote. 
  

Chinese Stock just lost 10 times Greece GDP in 3 weeks !

I was analysing some data this morning I came across a very interesting fact,

Chinese stocks have lost $2.36 trillion in value !

According to the World Bank Greece GDP stood at $242billion .

So China on average has lost one Greece GDP every 2 days .

Many people worried about Greece maybe the concern should go to China ?

Tony Evans

Tokyo Japan ,

Greece Poker game , will they agree the bailout conditions ?

EU urges Greece to agree bailout conditions 
The head of the European Commission made a last-minute offer to try to persuade Greek Prime Minister Alexis Tsipras to accept a bailout deal he has rejected before a referendum on Sunday which EU partners say will be a choice of whether to stay in the euro. 
However, Greek government sources said the leftist premier stood by his rejection of the creditors’ conditions and Greece would default on a crucial repayment due to the International Monetary Fund on Tuesday, plunging it deeper into financial crisis. 

EU and Greek government sources said that Jean-Claude Juncker had offered to convene an emergency meeting of eurozone finance ministers on Tuesday to approve an aid payment to prevent Athens defaulting, if Tsipras went a written acceptance of terms. 

He also dangled the prospect of a negotiation on debt rescheduling later this year if Athens said “yes”. 
The last-ditch bid from Brussels came after tens of thousands of Greeks, mobilised by Tsipras’ Syriza party, demonstrated in Athens against further austerity. 

Tsipras broke off negotiations with the Commission, the IMF and the European Central Bank and announced early on Saturday a referendum on the bailout terms next Sunday, giving voters just one week to debate the fundamental issues at stake. 

Under Juncker’s offer, Tsipras would have to send a written acceptance by Tuesday of the terms published by the EU executive on Sunday and agree to campaign in favour of the bailout in the planned July 5th referendum. 

However, there was no sign that the leftist leader, elected in January on a promise to end austerity, was prepared to drop his repeated rejections of the terms, which he has branded a “humiliation” for Greece. 

Click here to read more of deVere Group’s market news.

  

Yellenspeak out about Greece and the Global Economy 

The fast evolving situation in Greece and the Eurozone could trigger instability in financial markets and the global economy. The Federal Reserve, among others, is watching for fallout from overseas that could affect the US. 

A Treasury spokesperson, describing June 27 conversations between US Treasury Secretary Jacob Lew and International Monetary Fund Managing Director Christine Lagarde, German Finance Minister Wolfgang Schaeuble and French Finance Minister Michel Sapin: 
“In his calls, Secretary Lew noted that the United States continues to closely monitor the situation and underscored that it is in the best interests of Greece, Europe and the global economy for Greece and its creditors to find a sustainable solution that puts Greece on a path toward reform and recovery within the Eurozone.” 
Fed Governor Jerome Powell, at a June 23 event hosted by The Wall Street Journal, on how overseas growth and the dollar could affect policy:
“Global growth is really important, we are all connected through the financial markets, through foreign exchange markets. So, if global growth weakens, or remains weak, and we get into a trend of that, then yes, that will be a big headwind for the United States economy.” 
“It is a fact that, to the extent we are the strongest, and the dollar increases in value, then … we will grow more slowly and monetary policy will react accordingly.” 
Fed Chairwoman Janet Yellen, at a June 17 press conference, on the situation in Greece: 
“In the event that there is not agreement, I do see the potential for disruptions that could affect the European economic outlook and global financial markets. I would say that the United States has very limited direct exposure to Greece, either through trade … or financial channels. But to the extent that there are impacts on the euro-area economy or on global financial markets, there would undoubtedly be spill overs to the United States that would affect our outlook as well.” 

  

Slouching towards Grexit and why the Eurogroup is wrong to reject a referendum 

The referendum on whether Greece should accept the Eurogroup’s most recent proposal for extending the bailout package, to be held on Sunday 5th July, represents an opportunity to avert Grexit. The IMF and euro zone policy makers were wrong to dismiss it as too late and therefore irrelevant. A ‘yes’ vote on Sunday could substantially change the negotiating climate if it triggers fresh elections in Greece which deliver a genuinely reform-minded government.The ECB’s decision to stop supplying Greece with euros has triggered capital controls in Greece

Hording of euros will make them scarce, hastening the need for a new currency

But Brexit can be avoided. Few want it to happen, and deadlines are imaginary constructs.

IMF and Eurogroup are wrong to dismiss the Greek government’s decision to hold a referendum this Sunday.

A ‘yes’ vote on Sunday could substantially change the atmosphere and lead to a positive outcome, if the IMF and Eurogroup are receptive.

The Eurogroup must offer debt relief in exchange for broad structural reforms.

I continue to believe that Greece will remain in the euro. It is what the Greeks want, by a large majority according public opinion polls, it is what the euro zone policy makers want (including, importantly, Angela Merkel), and it what the US wants for geo-political reasons.

However, with the ECB announcing yesterday that it will no longer allow the Greek central bank to print euros, and the consequent introduction of capital controls by the Greek government, Greece is undoubtedly moving steadily and unhappily towards the exit door of the euro.

Greeks are now hording euros, starving banks of the currency. This means that the central bank may need to print its own currency in order to ensure pensions and public sector salaries are paid. Initially launched at parity with the euro, it will fall sharply in value due to the reluctance of Greeks to hold it any longer than need be.

This is in accordance with Gresham’s law, which predicts that bad money drives out good money, as households use good money as a store of value rather than as a transaction currency.

How do policy makers put this inching towards a Grexit into reverse?

The Greek government has announced a referendum on Sunday 5th July, on whether the country should accept the deal offered last week by euro zone finance ministers at the Eurogroup discussions.

This is a potential game changer, which the Eurogroup and the IMF should welcome.

Sadly they both rejected it on the spurious grounds that its too late: the IMF wants to repaid EUR 1.5bn by the end of tomorrow, which is the same day that the euro zone second bailout expires, with no agreement in place as to what will replace it.

But deadlines are imaginary constructs. The IMF and Eurogroup should wait a week and see what result the referendum brings. If a vote to reject the Eurogroup’s final offer comes to pass, then Grexit should be allowed to happen.

Syriza will then have a free hand to build the socialist utopia it wants, without interference from Brussels, Frankfurt or Washington. Since the pressure for fundamental economic reform will be reduced, there is little chance of the country’s economy and politics changing in any meaningful way. Elections will continue to see one interest group swapping places with another, with clientelism and corruption being key characteristics.

However, a vote to accept the Eurogroup proposals will be a game changer. Sriza would have to call elections, since it could not implement reforms that it has already rejected and will be campaigning against in the referendum.

A new government that reflects the will of the people could then sign on the dotted line. The risk of Grexit subsides, Greece remains in the euro and the EU and the continent breathes a sigh of relief.

Austerity will persist for years as the country pays off its massive debt. However, this could be alleviated by the Eurogroup should agreeing to substantial debt relief as and when reforms to labour markets, pensions, tax collection and the breaking up of professional cartels take place.

What will emerge will be a modern European country.

The unwillingness of the IMF and the Eurogroup to discuss debt relief is a blind spot that needs to be addressed. Repayment of debt to GDP of around 185% is unrealistic, better to reduce the debt in return for a broader set of reforms than to face default on all the debt and see no reform in a Greece outside the euro.

  

Live – Fight 8 John “The Butcher” Trollope vs Patrick “The Roppongi Rampage” Wheen

The final fight at the Tony Evans and deVere Group EFN V. Meet the Fighters: John “The Butcher” Trollope vs Patrick “The Roppongi Rampage” Wheen. Who will win?

6月19日のグランドハイアットでのTony Evans and deVere Group EFN Vの第8試合はJohn “The Butcher” Trollope vs Patrick “The Roppongi Rampage” Wheenです。どちらが勝つと思いますか?

Fight commences at 22:45 UTC

Watch the fight live on : http://netyouland.jp/efn-v-2015

John Trollope

Pledge John Now!

Age – 38
Nickname – “The Butcher”
Nationality – Filipino-American
Assessment day weight – 94.8 kg
Been training since – January 17, 2015
Company – IKEA Japan
Position – Project/Team Leader
Why did you begin boxing? I got into boxing because of my wife, who is also an EFN V fighter. She began training roughly 5 months earlier and I could see the positive impact it had on her; both physically and mentally. She was more energized than normal after her training sessions and couldn’t stop talking about boxing. Her energy was contagious and I wanted to support her in reaching her goal to make the EFN cut. I decided to sign-up for a boxing boot camp in January to learn the basics in order to properly train together. We were quickly hooked and found ourselves training regularly. We even got our 6 year old son hooked! There is nothing better than a sparring session with your better half to show your love on Valentine’s Day.
Why are you fighting? I’m a softy when it comes to kids, especially when it comes to kids who face tough battles. If fighting for only 6 minutes (maximum) can make a small, but positive impact on the lives that need the support of Shine On! Kids … then sign me up!
Favorite quotes – ““If you are going through hell, keep going”. Winston Churchill
“You truly do not know how tall you are, until you are forced to rise”
“I choose to listen, rather than wait to speak””
Message to kids – Even though we have not met, I have you in my thoughts each time I train. You push me when I need that extra push. I can only hope that I can make you proud, or at least make you smile. I’m in your corner! YNWA (You’ll Never Walk Alone).

Patrick Wheen

Pledge Patrick Now!

Age – 31
Nickname – “The Roppongi Rampage”
Nationality – British
Assessment day weight – 97.3 kg
Been training for – 3 months (this time)
Company – Deutsche Bank
Position – Associate
Why are you fighting? I like fighting
Favorite quote – “I’d rather have a bottle in front of me than a frontal lobotomy”
Message to kids – You`re facing much bigger challenges then ours and unlike us, never stop fighting!!!

Charity of the Evening :

Shine On Kids

Childhood Cancer in Japan

Childhood cancer is the number one cause of death for children in Japan after accidents. A child is diagnosed with cancer in Japan about once every 3-4 hours each day. While the prognosis for many childhood cancers has improved significantly, the treatment process is still long and grueling. Children undergoing treatment for cancer in Japan are generally hospitalized for quite a long time – 6 months to one year or more. This puts an incredible burden on the patients and on the family supporting them. For example, mothers go to the hospital daily, staying from early morning until their child goes to sleep at night. By necessity, their world becomes the hospital, even if this is at the expense of spending time with the rest of their family. For the children undergoing cancer treatment, hospitalization can be isolating (often children under 12 are not allowed to visit the cancer ward) and frustrating. Most kids in treatment really want nothing more than to do normal kid things – like play with friends, eat what they want and go to school.

Goals

Drawing from the personal experience of the Ferris’, listening to the needs of parents and with the guidance of a quality Japanese medical advisory team, Shine On! Kids is working towards the following goals:

  1. To empower children with cancer and their families through innovative programs using arts in medicine, animal therapy and skilled counseling.
  2. To realize excellence in medical teams and treatment by providing additional medical staff, enabling collaboration among medical teams and supporting targeted research.
  3. To raise awareness of childhood cancer in the community through academic circles, general public volunteering and corporate sponsor involvement

Main sponsor of the Evening:

deVere Group

deVere Group is the world’s leading independent financial consultancy group, with more than $10 billion of funds under advice and administration, and over 80,000 clients around the world. We help our clients, who range from international investors to expatriates who have moved their families overseas to live and work, to find financial strategies and investment vehicles that are best suited to help them create wealth.

deVere Group helps clients safeguard and grow their money, according to their medium- to long- term requirements. Services we offer include insurance policies, investment options, savings and pensions. Our operations are carried out on a case-by-case basis by our qualified network of international financial advisers, allowing us to take each client’s goals and expectations into consideration when charting our financial plans and delivering the professional financial advisory services we are renowned for.

With deVere Group, international investors can rest assured that their financial portfolio is in safe, experienced hands that know what it takes to make wealth grow.

#‎deVereEFN‬ ‪#‎EFNTokyo‬ ‪#‎EFNnews‬ ‪#‎EFNlatest‬ ‪#‎ShineOnKids ‪#‎inspire‬ ‪#‎fitness‬ ‪#‎deVereTonyEvans‬ ‪#‎deVereNigelGreen‬ ‪#‎deVereringside

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