Quote of the Day (Haista Antti paska):
Koneen hallituksen puheenjohtaja Antti Herlin sanoo viime perjantaina ilmestyneessä Talouselämässä, että olisi helppo olla jälkiviisas ja arvostella Suomen suuresta riskinotosta osallistuessaan euron pelastusoperaatioihin.
”Tämä olisi aika lailla turhaa.Tässä sitä ollaan ja nyt pitäisi pitää huolta siitä, että Euroopan asiat saadaan järjestykseen”, Herlin sanoo.
Haistakoon Antti pitkän paskan. Aivan mieletöntä liiketoiminnan subventiota Suomen veronmaksajien piikkiin, ettei vaan vahingossakaan asema Forbesin tuhannen rikkaimman joukossa vaarantuisi, ja nyt selitetään, että voivoi jälkiviisaus.
Previously on MoreLiver’s:
Roundups &
Commentary
Frontrunning – ZH
Overnight: Market Bubbly Following Newsless Weekend – ZH
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
Daily press summary – Open Europe
Morning MarketBeat: ‘Great Rotation’ In the Making? – WSJ
Broker Note Briefing – WSJ
Six Considerations Shaping the Capital Markets – Marc
to Market
EUROPE
CRISIS
OVER?
Mario Draghi has saved the rich, now he must
save the poor – The
Telegraph
Ambrose
Evans-Pritchard: The ECB has washed its hands of any further responsibility for
the 27m people across the eurozone listed as unemployed or classified as
discouraged workers.
Draghi getting ahead of himself: are we really
seeing a “normal situation” in eurozone financial markets? – Open
Europe
Euro Leaders Declaring Worst Is Over Turn to
Economy Woes – BB
Now is the time for a new fundamental law of
the European Union –
europp
/ LSE
Andrew Duff
MEP argues that without revision of the EU’s treaties to create a fiscal union,
the EU’s very survival is now in jeopardy. He advocates the merging of the two
EU treaties into one Fundamental Law of the EU, and the creation of a federal
economic government for the fiscal union.
BANKS
EU draft bank rescue plan says countries must
share burden: FT – Reuters
Struggling
euro zone countries seeking future aid from the region's rescue fund to prevent
their banks collapsing will have to share the cost burden, according to a draft
euro zone proposal seen by the Financial Times.
About that sovereign-bank link we said we’d
break… – alphaville
/ FT
So it looks
like the EU maybe won’t be breaking the sovereign/bank doom-loop after all!
UK
The Financial Policy Committee’s mighty powers – alphaville
/ FT
Fresh from
the Bank of England — it’s a draft Policy Statement explaining the planned
powers for the Financial Policy Committee to give directions setting extra
capital requirements for the purposes of financial stability.
British
Prime Minister David Cameron on Monday played down the prospect of a near-term
referendum on Britain's membership of the European Union,
ahead of a long-awaited speech on the issue he is expected to deliver next
week.
Osborne's "reform or bust" remarks
only get a page 10 hit in Die Welt – Open
Europe
"I
very much hope that Britain remains a member of the EU. But in
order that we can remain in the European Union, the EU must change."
MACRO
NUMBERS
Euro zone
factory output falls, may have hit bottom – Reuters
Italian
November Industrial Production Falls More Than Forecast – BB
Euro-Area
Industrial Output Unexpectedly Declined in Nov. – BB
UNITED STATES
Deminted: The platinum coin option is no longer
an option – Free
exchange / The Economist
Big tests for stocks – Humble
Student
My inner
investor is very nervous about this stock market. My inner trader is a little
bit more sanguine and believes that there could be a bit more upside that he
may be able to catch. However, he is tightening up his stops to limit his
losses and keeping an eye on the exit.
The off-loading of short-term USTs – alphaville
/ FT
Total
Treasury market positioning was shortened significantly in the latest week,
with total Treasury longs hitting the shortest levels in over 8 months.
ASIA
China’s Q4 GDP is due out this Friday. Huzzah! If
you’re wondering how seriously to take it… wonder no more.
Just as the
Japanese look to be finally weakening their stubborn yen and spur some
inflation in a stagnant economy, there is a suggestion, just a suggestion mind,
that a deliberate plan to scupper, or at least hinder, that plan might be
afoot.
OTHER
Morning Briefing (EU/US): The Darker Side Of
"Currency Wars" – BNY
Mellon
Thinking a
little further about Chinese attitudes towards the JPY.
FX Comment: ECB from Mars, Fed from Venus – Nordea
Fed talk is
one of this week's highlights - will they get the USD sink more?
Financial forecasts – New Year is over, but
the party is not – Nordea
(pdf)
or read the summary
IN FINNISH
Pelastammeko
seuraavaksi rahanpesijöitä? – Jan
Hurri / US Puheenvuoro
Kypros on pieni ja pinteessä – ja europäättäjien poliittinen
painajainen. Saarivaltio anoi hätärahaa jo viime kesänä mutta ei ole vielä
saanut rahaa tai vastausta. Kypros on vaarassa "kaatua" ja jopa
ajautua ulos eurosta, mutta "pelastustoimia" viivyttää epäily tukimiljardien
päätymisestä rahanpesijöille.
Pankkikriisimaille
kaavaillaan kahta vaihtoehtoa – TalSa
Euromaat voivat joutua jatkossakin kantamaan itse suuren
osan pankkiensa vaikeuksista, jos julkisuuteen vuotanut valtiovarainministerien
suunnitelma toteutuu. Asiasta kertoo brittilehti Financial Times.
Rikospaikkana EU –
missä kunnossa uhri on? – TalSa
Jos EU:n nykytilaa arvioisi rikospaikkatutkijoiden keinoilla
ja tavoilla, analyysi olisi selvä. Konnuuksien, kriisitilanteiden ja oman
nopean laajenemisensa takia uhriksi joutuneella unioniparalla on kolme vakavaa
vammaa, jotka vaativat pikaista hoitoa.
Pääkirjoitus:
Eteläranta palailee reaalimaailmaan – IS
EK:n toimitusjohtaja Jyri Häkämies on viime päivinä puhunut
monissa viestimissä palkkamaltin puolesta rajaten mahdolliset, mieluiten
yrityskohtaiset palkankorotukset enintään tuottavuuden kasvun mukaisiksi.