Here are
the lunchtime regular briefing links plus some interesting articles I’ve
cherry-picked. The first article (luckily short one) in Euro Crisis is worth reading: authors are Marco Buti (Director
General of EMU at the Directorate-General for Economic and Financial Affairs)
and Pier Carlo Padoan (OECD Deputy Secretary-General and Chief Economist).
Their suggested solution is of course orthodox (no euro break-up) and possibly not workable, but the one that will be implemented, as Marco B. is what Krugman would call a "Very Serious Person". On that note, Krugman beats Finland's prime minister senseless and introduces a new, Orwellian word growsterity.
Their suggested solution is of course orthodox (no euro break-up) and possibly not workable, but the one that will be implemented, as Marco B. is what Krugman would call a "Very Serious Person". On that note, Krugman beats Finland's prime minister senseless and introduces a new, Orwellian word growsterity.
News And
Market Re-Cap – RanSquawk
/ ZH
The euro
zone today – MacroScope
/ Reuters
The Lunch
Wrap – alphaville
/ FT
EM New York
headlines – beyondbrics
/ FT
EZ Crisis
Daily Press Summary – Open Europe
Debt
crisis: live – The
Telegraph
Europe Crisis Tracker – WSJ
FX Options
Analytics – Saxo
Bank
EURO CRISIS
From a vicious to a virtuous circle in the
Eurozone - the time is ripe – voxeu.org
The economic and financial crisis in the
Eurozone is in its fourth year. This column argues that, by providing a
confidence bridge, decisive and credible policy action can turn the economy
around and bring it towards a good equilibrium of debt sustainability and
sustainable growth.
Did the Bank of England cause the boom and bust? – Robert Peston /
BBC
How much were central banks, notably the Bank of England and the US Federal Reserve, to blame for the financial boom and bust that's landed us with years of economic stagnation?
How much were central banks, notably the Bank of England and the US Federal Reserve, to blame for the financial boom and bust that's landed us with years of economic stagnation?
Illusion of Cheap Money; Major Promises in
Europe But No Real Reform; Does the Bond Market Have it Wrong? 30 years of
Japanisation? – Mish’s
Steen Jakobsen, chief economist at Saxo Bank in
Denmark discusses the illusion of cheap money, bond market yields, and the lack
of European reform in his latest email.
Sarko Spam, “Muslim by Appearance,” and
Self-Destruction – Testosterone
Pit
President Nicolas Sarkozy, practically
written-off in the French presidential election, is grasping at straws, and in
the process, during an interview on France Info, he created an
official classification of people in France, and maybe even in
the whole entire world: Muslim by appearance.
After publicly throwing her weight behind
Nicolas Sarkozy's re-election campaign at the start of the year, Germany's Angela Merkel and her advisers are quietly preparing for the
possibility that they may have to do business with his Socialist challenger.
EMU poll – Danske
Bank (pdf)
As the No camp generally gains momentum during
a referendum campaign, everything suggests a vote would result in a No if held
today. When the Danes will be asked to vote again on the euro remains
uncertain. We do not expect this to happen in the near future.
EURO CRISIS: PERIPHERY
Portugal May Be the Next Greece – TIME
The worst is over for the Eurozone, the experts say. But Greece isn't really fixed and Portugal could become a second big problem before year-end.
The worst is over for the Eurozone, the experts say. But Greece isn't really fixed and Portugal could become a second big problem before year-end.
Success Stories – Krugman /
NYT
Mr. Katainen, the 40-year-old leader of one of
the euro area’s last remaining triple-A-rated countries, spoke more
optimistically in his public comments of “growsterity,”
The Fund, arrears, and Greek holdouts – alphaville
/ FT
So it turns out that we won’t know, for a
little while longer, who the holdouts are in Greece’s foreign law bonds –
a remaining pimple on the bottom of its debt workout. Greece has pushed back the
deadline for foreign law bondholders to agree to a debt restructuring to April
4
Planning for the Greek elections – what you
need to know – Saxo
Bank
The current debt-restructuring programme in Greece is one of the most
complex in history and the new government will not necessarily agree to all of
the measures.
OTHER
Fed Policy: Bernanke Is Warming Up His
Helicopter – The
Daily Capitalist
Bernanke rolls the dice on what seems to be a
bad bet – ZH
Bernanke, Bullard, and QE3 – Tim
Duy’s Fed Watch
I do not think Bernanke's speech is a signal
that QE3 is guaranteed. But it is a
signal that QE3 is definitely not off the table. It is entirely data dependent. The current flow of data does not support
additional action.
All You Thought You Knew About the Swiss Franc
Is Wrong, Says HSBC
– The
Source / WSJ
“When we started investigating the numbers, this is not the result we thought we would find,” said Daragh Maher, foreign-exchange strategist at the bank.
“When we started investigating the numbers, this is not the result we thought we would find,” said Daragh Maher, foreign-exchange strategist at the bank.
OFF-TOPIC
Father of the email attachment – The
Guardian
As his invention celebrates its 20th
anniversary, Nathaniel Borenstein explains how and why he revolutionised modern
communications
Censorship and deletion practices in Chinese
social media – First
Monday
With Twitter and Facebook blocked in China, the stream of
information from Chinese domestic social media provides a case study of social
media behavior under the influence of active censorship.