Previously on
MoreLiver’s:
EUROPE
Dutch contortions on
budget highlight potential limits of eurozone rules – Open
Europe
After a whole range of eurozone reforms (think Fiscal Pact, six-pack,
two-pack etc) the lesson seems to be that legal rules just won't trump
politics.
Angela Merkel's domestic policy in her third term will likely be
confined to higher spending. But she has grand plans for Europe. SPIEGEL has learned
she wants Brussels to have far more
power over national budgets. It's a risky move that EU partners and the Social
Democrats are likely to oppose.
Imagine the British people vote to quit the European Union in the
referendum David Cameron has promised to hold by 2017. What happens next? What,
if any, special relationship would the UK seek to retain with the EU? Would it
be able to negotiate what it wanted? And how would the economic damage
unleashed by years of uncertainty be kept to the minimum?
ECB Sheds Light on
Emergency Lending Program – WSJ
The Man Who’ll Do
Triage on Europe’s Banks – NYT
Ignazio Angeloni, a
top ECB official, has a leading role in reviewing euro zone
banks to determine which are sound and which are not.
When Will
Shutdown-Related Economic Reports Come Out? – WSJ
How the Billionaires’
Shadow Government Works – View
/ BB
The promise that Steyer, Paulson and Bloomberg might use their
collective billions to slow global warming is reassuring - - and a pleasant
change from the dysfunction in Washington that has prevented
lawmakers from accomplishing much of anything.
What to Watch for in
Tuesday’s Jobs Report – WSJ
U.S. existing home sales
fall, price appreciation slows – Reuters
Are higher rates taking a bite out of home sales? – Reuters
Pettis, who argues that one of the automatic, if not always intended
consequences of Abenomics is to really force up Japan’s current account
surplus, and it’s not clear the world will be ready or able to absorb it.
OTHER
“Tapering is off the
table”
– alphaville
/ FT
Fresh from having made $1bn impeccably timing the putative US recovery in the first half of this year (and Japan, natch), Andrew Law of Caxton Associates – one of the world’s most successful macro traders – has now turned bearish, and in quite a big way.
Fresh from having made $1bn impeccably timing the putative US recovery in the first half of this year (and Japan, natch), Andrew Law of Caxton Associates – one of the world’s most successful macro traders – has now turned bearish, and in quite a big way.
Copper triangle
pattern indicates breakout could be imminent – TradingFloor
Rediscovering the
price of money when things can't get worse – TradingFloor
Steen Jakobsen: The policies and cheap money dictated by the ECB, the
Fed et al are the very essence of a Soviet-style planned economy—central
planning and control, no price discovery and just one supplier of credit. This
is crushing SMEs—and it simply must stop.
The IMF revisits sovereign bankruptcy – Felix Salmon / Reuters
Historical Global
Yields & Defaults, 1800 – Present – The
Big Picture
FINNISH
Asiantuntijoita vai asian kantajia? – Libera
Juhani
Huopainen kommentoi ETLAn ja UPIn viime viikolla järjestämää euroseminaaria
Todellisen talous- ja rahaliiton vaihtoehdot.