Here are some weekend reads, almost all of them on European crisis from my "big three". - MoreLiver
The Economist
Its insolvent economy needs a bigger debt reduction. A precipitous exit from the euro would be a disaster
Uncertainty about whether Greece will stay in the euro is crippling its prospects
Endless summitry may not have resolved the euro crisis but it has given the German chancellor a political lift
The Italian prime minister faces big protests against liberalization
French politics: Sauce Hollandaise – The Economist
François Hollande declares war on global finance
Charlemagne: Hopeful or hopeless? – The Economist
Europe struggles to find a strategy to grow out of its debt crisis
Austerity and the markets: The perils of prudence – The Economist
More evidence that austerity can backfire
Buttonwood: In praise of pessimists – The Economist
Sometimes it helps if investors are gloomy
Free exchange: Shake it all about – The Economist
Which emerging economies have the most monetary and fiscal wiggle-room?
Der Spiegel
Legal Loopholes: Critics Question Merkel's Fiscal Pact Proposal – Spiegel
It's German Chancellor Angela Merkel's pet project -- a new European Union fiscal pact to ensure members' budgetary discipline through stricter controls. But European legal experts have doubts about its viability, while critics say there are more important issues at hand.
Speech in Davos: Merkel Refuses Role of Rescuer in Euro Crisis – Spiegel
As fears mount that the euro crisis could trigger a global recession, all eyes are on Germany to take an even stronger lead in the rescue efforts. But Chancellor Angela Merkel has disappointed these expectations, warning against placing too many burdens on Germany.
'There Is No European Emergency Plan' – Spiegel
Greece is struggling to reach an agreement on debt relief with its private-sector creditors. But even if it ultimately does, the country may need vastly more funding than has been envisioned so far. German commentators on Friday say it's time for a bit of honesty from Europe's leaders.
EU Reaches Agreement on Permanent Bailout Fund – Spiegel
Euro-zone finance ministers meeting in Brussels on Monday night finalized the treaty governing the permanent euro bailout fund, the ESM. The deal paves the way for the ESM to take effect in July, a year earlier than planned. German Finance Minister Schäuble also said that final agreement had been reached on tighter euro-zone budgetary rules.
Berlin has been unflinching it its efforts to both increase fiscal discipline in the euro zone and to avoid throwing more money at the European debt crisis. Increasingly, though, Germany's EU partners are unwilling to play along. Chancellor Merkel now finds herself confronted with powerful opponents.
Time is running out for reaching an agreement with private investors on a Greek debt haircut, with negotiations stalled over interest rates. Meanwhile Germany continues to reject pressure to increase its contribution to the permanent bailout fund. German commentators are pessimistic.
The Telegraph
Eurozone policy-makers – from President Sarkozy and Wolfgang Schäuble to the former President of the ECB, Jean-Claude Trichet – advocate that Italy and Spain should emulate the Baltic states and Ireland.
So how did China pull off an economic growth rate of 8.9pc in the fourth quarter? Beats me. I strongly suspect that the trade and power data reveal the true state of China’s economy.
The solution to the euro crisis? A European credit rating agency! – The Telegraph
How do you suppose MEPs plan to get out of Europe's economic mess? By acknowledging that the single currency was a rotten idea to begin with? By allowing stricken economies to default, decouple and devalue? Nope. They plan to regulate, or even censor, American credit rating agencies.
Europe needs to "show the colour" of its money before Britain will stump up more cash to bail out its struggling countries, George Osborne has said.
Britain is edging towards agreeing its $30bn share of the $500bn of extra funding demanded by the IMF for eurozone bailouts, a sum so large that it will require parliamentary approval.