Interesting! Italy's Five Star-party hires Stiglitz to write their economic program. Something that the EU commission should have thought about. Add to that the 5* has stated it will not accept a technocratic government, and it could very well be that Italy will end up having a sane, debt-restructuring, euro-exiting and fiscally less austere government at some point.
Also, plenty of Finnish stuff: the antieuro True Finns have made statements that do not suggest demands for an immediate euro exit. This somehow is big news, though nothing has changed policy-wise.
Previously on MoreLiver’s:
Roundups &
Commentary
News – Between
The Hedges
Markets – Between
The Hedges
Recap – Global
Macro Trading
The Closer – alphaville / FT
Tomorrow’s Tape: ADP Jobs Report, Beige Book – WSJ
It’s
time to update our risk calendar through until the end of March
EUROPE
When economists attack: Paul Krugman vs Olli
Rehn – Brussels
blog / FT
ECB
Draghi Will Need to Push the Euro Down Some
More – WSJ
With the
euro-zone recovery proving weaker than hoped, Italian politics proving as
intractable as feared and the euro itself failing to fall far, there is every
reason for Mario Draghi to hint at more monetary-policy easing this time round,
writes columnist Nicholas Hastings.
The ECB is
unlikely to provide further stimulus to the euro-zone economy on Thursday, but
persistently weak economic growth has some economists looking for a rate cut
later this year.
SPAIN
The Spanish unemployment mystery (part 1) – ibexsalad
Lower
wages, part time work and a generalized downsizing being subsidized by
unemployment insurance.
ITALY
"Grillonomics" Beppe Grillo
Exchanges Emails with Krugman, Calls on Stiglitz and Fitoussi to Create
Five-Star Economic Plan – Mish’s
An
apparently obvious conclusion from last month’s Italian elections is that
citizens – ie, voters – don’t like austerity programmes. The question that
voters, especially in Italy, may not yet have reflected upon is
what is the alternative in order to reduce the excessive burden of the debt,
public or private, which has been accumulated over the past. There are at least
three choices.
UNITED STATES
Why Don’t We Have Deflation? – Krugman
/ NYT
Nominal
rigidity e.g. sticky wages
The wealth (declining?) effect – alphaville
/ FT
The
recovery of household wealth, if it continues, is a countervailing force
against the decline in disposable income resulting from the payroll tax cut
expiry and the parts of ongoing government austerity measures
OTHER
361 Capital Weekly Research Briefing – The
Reformed Broker
IN FINNISH
Timo Soinin lausunto
ihmetyttää – Soini myöntää muutoksen: ”Ei Suomi voi yksin lähteä” – US
Soini, PTT:n
tutkimus ja eurointoilijoiden todellisuus – Toimi
Kankaanniemi / US Puheenvuoro
Kuka ajoi PTT:n
miinaan? – Henri
Myllyniemi / US Puheenvuoro
Talouskuripolitiikka
on pitkittänyt taantumaa – Riikka
Söyring / US Puheenvuoro
Euro - torakat jäävät
laivaan – Juha
Lehtinen / US Puheenvuoro
Demarivaikuttaja:
Brysselin politiikka johtaa vaikeaan valintaan – ”Kipupiste lähenee” – US
Valtiotieteiden tohtori Seppo Lindblomin mukaan Euroopan
unionin politiikka ja viimeaikainen kehitys ovat asettaneet ihmiset ikävän
valinnan eteen. Lindblomin mielestä EU:n yhdentymistä ollaan viemässä niin
pitkälle, että siihen on EU-kriitikoiden lisäksi tyytymätön myös moni
myönteisesti unioniin suhtautuva.