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Monday, June 17

17th Jun - US Open: G8 before the Fed

Previously on MoreLiver’s:

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Roundups & Commentary
Frontrunning – ZH
Overnight: Futures Ramp Higher Ahead Of Key FOMC Announcement – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
Midday Express (EU daily news) – Europa
Daily press summary – Open Europe

Morning MoneyBeat: Fed Fixation Overblown – WSJ
Morning Bond Update: Bonds feeling better – TradingFloor
Fed and Flash PMIs Dominate the Week Ahead – Marc to Market

Pullback in euro area trade surplus as PIGS continue to rebalanceTradingFloor
Mads Koefoed: A narrowing trade balance in the euro area in April was led by the peripheral member countries despite Germany doing its part, as usual, to boost exports. In the big scheme of things the peripherals are on the right path with rebalancing continuing.

Mervyn King on the solutions to the eurozone crisisOpen Europe
The FT has just posted an interesting and lengthy interview with outgoing Bank of England Governor Mervyn King (pictured), conducted by the FT’s Martin Wolf.

Deliberations begin as hearings draw to a close in KarlsruheOpen Europe

Fitch says China credit bubble unprecedented in modern world historyThe Telegraph
China's shadow banking system is out of control and under mounting stress as borrowers struggle to roll over short-term debts, Fitch Ratings has warned.

G8 — plenty to worry aboutMacroScope / Reuters
Roundup of the current themes for the beginning week

Time to take basic income seriously?alphaville / FT
Paul Krugman is getting serious about the effects of technology and robots on the economy. He’s made noises about this theme before, but this time he’s taking things a bit further by offering a potential solution to the more sour consequences of the new industrial revolution. If the fight is between capital and labour, and capital is winning, it seems subsidies in the form of some basic type of income may be called upon.

FX Forecast Update - June: EM sell-off nearing the endDanske Bank (pdf)

JP Morgan: EM companies face long profits squeezebeyondbrics / FT
(Except India) EM governments are mostly in good shape to withstand tighter financial conditions. But that doesn’t mean nothing’s changed in the EM outlook – EM companies are under pressure.

Is the correction over?Humble Student
The recent bout of volatility in the capital markets owes much to the turmoil seen in the emerging markets. Both emerging market bonds and equities have recently been hammered… By the end of the week, it appeared that the storm that was battering the markets was abating

G8 summit live coverage: Syria dominates as leaders gather – The World / FT

EU tax havens under pressure as leaks go publiceuobserver
EU-linked tax havens have come under increased pressure to reveal who owns what ahead of a meeting of the G8 leading world economies.

UK set up fake Internet cafes to spy on G20 officialseuobserver
A G8 summit kicks off Monday (17 June) in Northern Ireland amid embarrassing revelations that Britain's intelligence services set up fake Internet cafes to spy on its allies at international summits in London in 2009.

Market turmoil forces G8 leaders to focus on global economyFT
Turmoil in financial markets is once again overshadowing a Group of Eight summit, turning world leaders’ attention away from trade, tax and transparency and back to the bumps on the road to recovery.

BizDaily: Tax on the agenda at G8 summitBBC (mp3)
Business Daily comes from the town of Enniskillen in Northern Ireland which is playing host to leaders from the world's eight wealthiest nations. The G8 Summit brings together the planet's elite to discuss the important issues of our time. Top of the business agenda is tax. How do you get the world's biggest companies to play the game fairly? Senator Carl Levin discusses Apple's tax obligations.

G8 Summit: Just How Effective?Pivotfarm / ZH

Obama and Putin face tough talks on Syria at G8 – Reuters
Britain's treasure islands make G8 tax test for Cameron – Reuters
G8 to say risks to economy lower, reforms needed: draft – Reuters
G8 to shy away from naming and shaming tax avoiders: draft – Reuters

Björn Wahlroos: EU:n liittovaltio on pahin uhka Suomelle Aamulehti

Stubb syyttää amerikkalaisnobelisteja vääristä neuvoista Kreikalle 2009verkkouutiset