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Thursday, April 11

11th Apr - US Open: My thoughts on Thatcher

Let me get this out of my mind: Helmut Kohl just said that the European vision was hurt by resistance from Margaret Thatcher. Thatcher nailed the impossibility of the euro area years ago.Kohl admits that the birth of euro would not have been possible democratically.  While I am not a big fan of Thatcher’s social and economic policies in general, at least she did the right thing on Europe. While she lost power because of her euroskepticism, it did put a stone into the federalists’ shoes. There should have been more people like that at that time.

Kohl confesses to euro's undemocratic beginnings – euobserver
Thatcher ‘to blame’ for British split on Europepresseurop 
Thatcher knew the single currency would devastate EuropeThe Telegraph
Thatcher Was Freakishly Correct About Why The Euro Would Be Such A Big Disaster – BI

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Eurointelligence Founder Wolfgang M√ľnchau, Once a Staunch Euro Supporter, Now Welcomes the Anti-Euro Party "Alternative for Germany"Mish’s

Cyprus: Of Course It’s A TemplatePawel Morski

You know it's bad when even a former EU commissioner calls for a eurozone break-upOpen Europe

BizDaily: The Euro sick listBBC (mp3)
In Business Daily, with Cyprus sorted for now, who's next on the euro-sick-list? Spain and Slovenia are currently in the doctor's waiting room - both with chronic banking problems. Will this ever end? We ask the European Commissioner, Ollie Rehn. And we meet the man who says he's got all the numbers you need to know to understand China.

Report on macroeconomic imbalances EC (pdf)
Malta is safe, at least :D

EU ministers to tackle Cyprus fallout, banking union at Dublin talksReuters
Fallout from the messy bailout of Cyprus will top the agenda of a two-day EU finance ministers meeting in Dublin beginning on Friday, with focus also on growing German reluctance over euro zone banking reform.

The Eurosystem Household Finance and Consumption Survey: description and main results of the first waveECB (pdf)

Are Cypriots really wealthier than Germans? Open Europe
And is there some great hidden wealth that southern Europe can tap into?

Statistics Pocket Book, April 2013ECB (pdf)

Monthly Bulletin, April 2013ECB (pdf)

Liquidity regulation and monetary policy implementationECB (pdf)