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Thursday, August 30

30th Aug - US Open

Plenty of good ones on Europe today...

Previously on MoreLiver’s:

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Roundups & Commentary
US Opening News And Market Re-Cap – Ransquawk / ZH
Frontrunning – ZH
Overnight Sentiment & Key Events  ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
Today’s front pages – presseurop
Daily press summary – Open Europe
  Former Polish Finance Minister: ECB bond-buying worst option for the eurozone

Morning MarketBeat: Stocks Can’t Shake Summer Fatigue – WSJ
Broker Note Briefing – WSJ
Morning Take-Out – NYT
AM Dear Dairy – Macro and Cheese

US session ahead
Pre-market Commentary – Marketwatch
Pre-Market Trading – CNNMoney
Pre-Market – NASDAQ
US Equity Preview – Bloomberg
Earnings & Events – The Street
MarketCurrents – Seeking Alpha

TV: Bloomberg, BBC
Debt crisis: live – The Telegraph
The Euro Crisis Blog – WSJ
Tracking Europe’s Debt Crisis – NYT
FX Options Analytics – Saxo Bank
European 10yr Yields and Spreads – MTS indices

Draghi's incomplete vision for the futureOpen Europe
Ultimately, Draghi's unwillingness to put a price tag on any of his suggestions or explain how they can be delivered in a democratic manner makes them hard to believe. The German public deserve better 'solutions' than this.

[Interview] France and Germany moving towards closer political unioneuobserver
"You will be surprised in the autumn by the degree of movement that will have taken place in some member states," says Thomas Wieser, one of the economists preparing plans for banking union ahead of the October EU summit.

Converging competitiveness and balance sheet recessionsalphaville / FT
Nomura’s Richard Koo is back to bang the balance-sheet-recession-drum and has taken a look at falling unit labour costs across the eurozone periphery and where they are likely to meet Germany’s as they creep upwards.

Hope in the Euro Zone: Crisis-Hit Countries May Have Turned the CornerSpiegel
The euro zone's crisis-hit countries are becoming more competitive, according to a new German study. Wage costs are down, and the countries are reducing their trade imbalances. Painful reforms appear to be slowly bearing fruit, and the euro zone might even return to growth next year.

BuBa President on ECB Bond Purchases 'Too Close to State Financing Via the Money Press'Spiegel
Jens Weidmann, the 44-year-old head of Germany's central bank, has made a name for himself by championing price stability and opposing bond purchases by the European Central Bank. In a SPIEGEL interview, he criticizes the ECB's latest plans and insists he only wants to secure the euro's long-term future.

The latest in the eurozone, in bullet points alphaville / FT
also a reminder of their excellent email newsletters

The monetary Maginot of the Gold Standard Telegraph
You could say that human folly and wickedness debauched the beautiful Gold Standard in the interwar years, but to concede that is to concede the argument. It is to admit that gold does not in fact prevent politicians running amok. It is just another monetary Maginot Line.

An asset allocator’s prayerThe Reformed Broker
Four events with binary outcomes: Europe, Fiscal Cliff, FED, China.

Steen's Chronicle: Maximum intervention revisitedSaxo Bank
ECB on hold until Sep12, so Fed, Fiscal Cliff, China for now.

The "wealthy white people" come throughHumble Student
I have no idea what Ben Bernanke will say at Jackson Hole, but I would be shocked if he announced QE3 this year. Nevertheless, I would expect that central bank action will act to send global equity prices on a tear some time in September because of the actions of the ECB, not the Fed. Watch Mario, not Ben

[China myths] The ever-increasing hunger for steelalphaville / FT
Commodities Forecast UpdateDanske Bank (pdf)
On track for a decent H2 - but still waiting for China
Velka oli ennen rahaa – kuka kuvittelikaan oppikirjojen kuvaavan rahan ja velan historiaa oikeintyhmyri

Pääkirjoitus: Saksalta lääkkeitä kriisiin – seuraavaan talouskriisiinHS

Pääkirjoitus: Soini jahtaa jytkylle jatkoaIS

Vieraskynä: Markka pakottaisi rakenneuudistuksiinHS

VM: Epävarmuus talouden suunnasta on suuriTalSa

Moody's: Kreikan euroeron todennäköisyys 45 prosenttiaTE

Oikeusvaltiota kannattaa varjellaHS
Poliittiset virkanimitykset ovat aiempaa ongelmallisempia siksi, että viime vuosina ylimpään valtionhallintoon on vaivihkaa kasvanut suuri poliittinen rälssi: poliittisten avustajien, poliittisten erityisavustajien ja poliittisten valtiosihteereiden joukko, jonka vastuusuhteet ovat toiset kuin virkakunnalla ja jonka valta on usein määrittelemätöntä.

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