Current Specials
EUROPE
Eurozone Math; One Size Fits Germany; Door
Number Two – Mish’s
France's experiment
with the Tobin Tax has proved a spectacular flop. Its finance ministry admits
that the scattershot levy on financial transactions has raised just a third of
the money expected since August.
Chancellor Merkel Tells Euro Zone to Stop Being
Annoying – WSJ
Merkel's latest
message to the embattled euro zone? Stop being annoying—it’s getting on
emerging economies’ nerves.
PIIGS
Leaked eurogroup paper: trouble ahead for Portugal? – Brussels
blog / FT
Although Cyprus has pushed its way back into the news, the
main event at Friday’s meeting of eurozone finance ministers in Dublin is expected to be a decision on whether to
give Ireland and Portugal more time to pay off their EU bailout loans.
Less than a month
after deal was agreed the bailout bill has risen to €23bn – larger than the
size of the Cypriot economy.
CORK, Ireland - Euro
zone finance ministers will probably agree on Friday to give Ireland and
Portugal seven more years to repay loans from the European Union, a senior
official said on Thursday, to help both countries return to financial markets.
Who’s next in line in the eurozone crisis? – Open
Europe
Spanish Home Prices Plunge Most On Record – ZH
Heavily indebted euro
zone nations such as Italy and Portugal could come under pressure to put their bullion
reserves to work as a result of plans for Cyprus to sell gold to meet its financing needs.
ASIA
Displaced JGB Investors – Marc to
Market
What the Bank of Japan
is doing is not unprecedented. Rather it is the pace of its asset purchases
that is striking.
Joseph Stiglitz : Why Abenomics will work – The
Sydney Morning Herald
Monetary Policy In A Liquidity Trap – Krugman
/ NYT
The hope now is that
things have changed enough at the Bank of Japan that this time it can, as I put
it all those years ago, “credibly promise to be irresponsible”.
Is the Yen overdone — not even close! – Peter Brandt
OTHER
Post BoJ New
World Quiz – Macro
Man
Fun!
IMF Global Financial Stability Report (GFSR) April
2013 – IMF
Summary version:
Chapters 2 and 3
EMEA Weekly – Danske
Bank (pdf)
IN FINNISH
Puuttuva
pätkä putkea – Hannu
Visti
Esitän tässä suomalaisen julkisen sektorin
ongelman, mutta asia on yleistettävissä valtaosaan muistakin länsimaista.
Esityksen taiteellinen taso ei päätä huimaa, mutta emme anna sen häiritä.
Säkillä
valoa Kreikan pimeyteen – Janne
Saarikko / Navi Group