Just a
quickie update because of the holiday in U.S.. Nasty day in Europe, it will be an interesting Tuesday for sure. The Calendar page has been updated. Did you do
something stupid during the long weekend? Or at work? Don’t worry, try one of these
tested defense strategies: Black rage, Twinkie, Chewbacca, Matrix or Gay Panic
Previously on MoreLiver’s:
MARKET SUMMARIES
Greece Jumps Most In 8 Months As Rest Of Peripheral Europe Slumps
Market Summary – A
View From My Screens
Key Events In The Shortened Week – GS / ZH
EURO CRISIS: GENERAL
Six-Point Growth Plan Merkel Prepares to Strike
Back Against Hollande
– Spiegel
France's new president, François Hollande, has
put the German chancellor on the defensive with his growth agenda. Now Angela
Merkel is planning to strike back. She is calling for structural reforms to
save the euro with a six-point plan aimed at harmonizing austerity and growth
in Europe once again.
Spanish Bonds – Austerity, Spending, and
Reality – TF
Market Advisors
The first step is to do an honest assessment of
the real debt burden of Spain… Once the actual debt
and real obligations of Spain are known, they need
to restructure the debt. If austerity doesn’t work, and spending has limited
value, debt restructuring is the only way to get the debt under control and
allow the policies of spending and austerity to work over time.
Another treaty, another Irish referendum – euobserver
Ireland votes on Thursday – what does it
mean?
EURO CRISIS: GREECE
Are We Heading for the “Grexit”? – AlphaNow /
Reuters
Chart
collection from a week ago.
Greece is going to cost Germany (and others) whether it is in EMU or not.
Greek privatisation is nothing more than talk – The
World / FT
CHINA
A potential Grexit will present entirely new
challenges to China in the coming months, and the country must avoid complacency over its
own exposure. A battle plan for both the present and the future is needed now.
As Europe’s crisis deepens, the twin channels of financial and trade linkages
have placed Asia’s economies in a vice. Rebalancing is the only way out for China and its partners in
the Asian supply chain. Until that occurs, the vice now gripping Asia will only continue to tighten.
OTHER
Swiss Prepare Plans in Case of Euro's Demise – WSJ
One such measure would be capital controls. In
the 1970s, Switzerland used such extreme measures to curb excessive demand for its currency.
The country prohibited foreign investments in Swiss securities and real estate,
and introduced negative interest rates on foreign deposits. Both tools failed
to stem the Swiss franc's rise, which only halted after the central bank
introduced a temporary peg to the deutsche mark, Germany's currency at the time.
What Wall Street needs right now, is a good gang
war… – I
Heart Wall St.
Are we seriously gonna keep taking this? When
do we take back our neighborhood?