The
all-seeing eye is turning to Italy. That will be ‘it’, as if Spain was not enough…I am not sure if the
ECB will step in, or would that even help at all, as ECB’s credibility is
basically Bundesbank’s credibility. Any hints that Germany has had enough would remove the ECB’s
temporary reign (10+ years). For the latest on "Bailando", see the
updated Spanish
Bailout: The Collection.
Greece exit = Grexit
Spain exit = Spexit
Spain bailout = Spailout, Bailando
Finland exit = Fixit
Italy exit = ???
Italy bailout = ???
Greece exit = Grexit
Spain exit = Spexit
Spain bailout = Spailout, Bailando
Finland exit = Fixit
Italy exit = ???
Italy bailout = ???
Frontrunning
– ZH
The Lunch
Wrap – FT
EM New York
headlines – FT
Overnight
Summary – Bank of America / ZH
Today’s
front pages – presseurop
Daily Press
Summary – Open
Europe
Morning
MarketBeat: The Roller Coaster Continues – WSJ
Broker Note
Briefing – WSJ
Morning
Take-Out – NYT
AM Dear
Dairy – Macro
and Cheese
The T
Report – TF Market Advisors
Pre-market
Commentary – Marketwatch
Pre-Market
Trading – CNNMoney
Pre-Market –
NASDAQ
US Equity Preview – Bloomberg
Earnings
& Events – The
Street
MarketCurrents
– Seeking
Alpha
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
EURO CRISIS
Roads to survival: How EMU break-up could be
avoided – ING
(pdf)
32-page research report from 5-June.
Full JPM note “Starting to think about the
EU summit on June 28/29”
Barroso to unveil 'political union' plan at EU
summit – euobserver
How the euro will end – WSJ
Greece will simply run out of cash. Then Spain’s real-estate bubble
will ruin an economy that really matters
BizDaily: Preparing for Eurogeddon – BBC
(mp3)
Europe thinks the unthinkable - what happens if the Eurozone splits. If Greece left the single
currency, what would happen to the banking sector, how would a new currency be
put in place, and could the Euro itself survive? Chris Bowlby runs through some
of the possible scenarios.
EURO CRISIS: GERMANY
More Gruel, More Gruel – Mark Grant / ZH
They can vote all they want in Brussels and
draw up all kinds of grand plans they desire but if Germany does not want to
accept them then it is little more than semi-polite conversation over
well-dressed cucumber sandwiches in various capital of Europe.
EURO CRISIS: ITALY
Necessary But Not Sufficient – John Mauldin
/ The Big Picture
Begins with Spain (too small bailout), but the talk on Italy is the beef.