|Where is Knight Rider when you need him?|
Why is this politically easier? Because taking the losses and recapping the proper institutions would show that the currency system is and has been malfunctioning. That is one thing the eurocrats do not want to admit - or let the voters understand. With EFSF bailout, everything can still be blamed on the periphery.
News And Market Re-Cap – RanSquawk / Zero Hedge
Frontrunning: April 18 – Zero Hedge
The Lunch Wrap – alphaville / FT
EM New York headlines – beyondbrics / FT
Morning MarketBeat – MarketBeat / WSJ
Daily Press Summary – Open Europe
Sarkozy: ECB should discuss euro’s exchange rate with governments; La Tribune: The Merkozy couple has committed suicide
Debt crisis: live – The Telegraph
Europe Crisis Tracker – WSJ
Tracking Europe’s Debt Crisis – NYT
FX Options Analytics – Saxo Bank
The Italian job – MacroScope / Reuters
Quick and efficient summary of the current news flow: The drive to find $400 billion or more of new crisis-fighting funds for the IMF seems to be slowly falling into place.
Strategic Briefing: Is Euro Risk On The Rise Again? – The Capital Spectator
Summaries of and links to nine recent articles
IMF: Global economic recovery fragile and risk of relapse high – The Guardian
Disorderly default and exit by eurozone member could spark market panic and cause bigger crisis than after Lehman collapse, IMF says in World Economic Outlook report
EU on Greek statistics scandal: 'Never again' – euobserver
The EU commission has proposed new rules on how to shield national statistics bureaus from political influence, three years after Greece lied about its deficit, triggering its first bail-out and marking the start of the eurozone crisis.
A gratuitous post on France – alphaville / FT
Just in case anyone thought we’d gone soft on Sarko…(nasty comments from Credit Suisse)
CHART OF THE DAY: The Run On Spain – BI
Deposits leaving the country, thus banks unable to buy sovereign debt and the Eurosystem is the only supporter of the Spanish financial system. Eurosystem will probably protect itself from losses by instituting bailouts and not allowing any private defaults.
The Next Global Crash: Why You Should Fear the Commodities Bubble – The Atlantic
Investors have gone crazy for commodities, pouring money into everything from oil to copper. Just like the world's mania for tech stocks in the 1990s, this boom is headed for a bust.
Top 25 Traders On Twitter - optionstradingiq
Beware of Franklin’s Gambit in making decisions – John Kay
…the process of making or finding a reason for what one already has a mind to do. Franklin’s Gambit was implicated in the two most serious policy disasters of the past decade; the Iraq war and the financial crisis of 2007-08.
"Hitler Speed" crossing borders – Presseurop
Frankfurter Allgemeine Zeitung: Traffickers working the Czech border with Germany no longer handle beer and spirits, but methamphetamines. Different laws in the two countries complicate the job of the police.