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Tuesday, June 25

25th Jun - US Open: Irish Scandal

Previously on MoreLiver’s:

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Roundups & Commentary
Frontrunning – ZH
Overnight: Rumor Ex Machina Sticksaves Futures – ZH
The Lunch Wrap – alphaville / FT
Emerging N.Y. headlines – beyondbrics / FT
Midday Express (EU daily news) – Europa
Daily press summary – Open Europe
  Irish government to launch inquiry into Anglo-Irish bailout; Senior bankers knew initial bailout would be insufficient

Morning MoneyBeat: Short Sellers Aren’t Pouncing on Pullback – WSJ
Morning Bond Update: Bonds taking a breather after onslaught – TradingFloor
Calmer Markets, but Precariously So – Marc to Market

Benoît Cœuré: Duration Risk in the Financial SystemECB

Mario Draghi: Stable Euro, Strong EuropeECB

Mr. King Blasts the Banks WSJ
When Mervyn King, departing governor of the Bank of England, took the podium at last week’s Mansion House dinner, he pulled few punches with regards to the U.K’s banks. “It is not in our national interest to have banks that are too big to fail, too big to jail, or simply too big.”

Much pain for small gain: difficulty of cost adjustment in the euro areaBruegel

Germany’s Case Against the ECBProject Syndicate
Hans-Werner Sinn: The German Constitutional Court's decision last year to allow Germany's government to accede to the European Stability Mechanism should leave little doubt about how it will rule on the ECB's pledge to purchase distressed eurozone members' sovereign debt. But, in courts, as in the open sea, predictions often prove unreliable.

Is France becoming nervous about being left alone with Germany? Open Europe
Those who think that the eurozone is one German election away from a full banking and fiscal union (which includes a surprising number of British eurosceptics) should have another look around Europe.

Inside Anglo: the secret recordingsIrish Independent
Exclusive: Tapes reveal the lies and deception that led to the bank bailout

Abuse the bank guarantee, don't get caught – David DrummIrish Independent
Anglo bank chief's extraordinary comments to staff after bailout

Top executives laughed off concerns about abuse of bank guaranteeIrish Independent

Irish Government to Push for Banking InquiryWSJ

Irish blood is boiling: the second installmentalphaville / FT
It’s round-two of the Irish Independent’s release of the Anglo tapes — the recorded gigglings of Anglo Irish boss David Drumm and a colleague or two during the bailout of Ireland’s most borked bank. It follows Monday’s recordings of Anglo luring the state into pumping €7bn into Anglo.

Two Fed Presidents Emphasize Stimulus to Persist After QE TaperBB

Credit Crunch Spells More Trouble for Chinese BusinessesWSJ
A liquidity squeeze in China’s financial system is making banks even more cautious about lending to the private sector—bad news for small businesses already finding bank loans hard to access.

Quick Sentiment Summary (June Week 3)Short Side of the Long

Onko maahanmuutto hyvä bisnes?Sampo Terho

Suomen lakien alaisten velkojan ja saamisten osalta käytettävän valuutan päättää suomalainen lainsäätäjätyhmyri

Ruotsin tie olkoon vielä Suomenkin tieOlli Herrala / KL
Säästöpankkiryhmän markkinastrategi Miska Kuhalampi on huomannut, että Ruotsi onnistuu perusremontissa. Länsinaapuri on menneen 20 vuoden aikana pudottanut julkisen sektorin osuuden yli 67 prosentista nykyiseen 49 prosenttiin. Onhan se vieläkin tolkuttoman korkea, mutta Ruotsi vähentää julkista velkaansa.

Irlannin kalsarinvaihtotarveJuhani Huopainen / US Puheenvuoro