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Sunday, October 27

27th Oct - Weekend: Europe & US links

Previously on MoreLiver’s:

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Brussels blog round upEuropp / LSE
US spying row, Czech elections, and should the left give up on equality?

Merkel's Europe - how her men run BrusselsReuters
Postwar humility "done with", as Germans seek EU power

Reality Check: Germany's Defective Green Energy Game PlanSpiegel
Germany pretends to be a pioneer in the green revolution. But its massively expensive Energiewende has done nothing to make the environment cleaner or encourage genuine efficiency. One writer argues: Either do it right, or don't do it at all.

Analysis: Black Sea gas bonanza remains elusiveReuters
Southeast Europe is hoping increased natural gas exploration in the Black Sea will help cut its dependency on Russian supplies, but a gas bonanza remains elusive and Moscow is taking steps to defend its dominant position in the region.

Charlemagne: A democratic nightmareThe Economist

Euro zone suffers from integration fatigueReuters
The euro zone is suffering from integration fatigue and banking union might be the last big push for the foreseeable future, officials in the currency bloc say.

EU Apathy: Leaders Fail to Make Progress at SummitSpiegel
This week's European Council summit was sidelined by new accusations of US spying in Europe. But despite the distraction, it's clear EU leaders have deferred plans for greater integration, and lack the political will to address pressing concerns like migration.

Positive net capital inflows boost EURTradingFloor
Eurozone net capital flows continue to provide a solid backdrop to the EUR at a time when international investors are increasing their allocations to Europe.

This is your euro on AQRFT

Fixing Europe’s banks: Cleaning the Augean stablesThe Economist

IMF: EU Hid Sensitive Data on its Financial SectorWSJ
The paper reveals that the EU and its member countries deleted sensitive information about their financial sector in more than a quarter of the IMF’s reports on their economies last year.

This year in banking crises
Much has happened since VoxEU published an eBook on the banking union in Europe one year ago. In this column, the editor of the eBook reviews the developments and plans of the past year. Many of the issues flagged by eBook contributors are still relevant and have not yet been addressed. While immediate pressures seemed to have receded, the crisis is still very much with us and is still awaiting resolution.

An encouraging start for the ECB’s Big Bank ReviewBruegel
Thus, the conflict between the ECB and member states will escalate. It is likely to trigger significantly more financial-market volatility in 2014 than Europe has witnessed (so far) in 2013, in spite of sizeable internal shocks this year such as the February election in Italy and the March developments in Cyprus, and external ones such as the turmoil in emerging markets and the recent US fiscal drama.

Buba warns of extra workload for banks ahead of ECB bank checksReuters

ECB's bank asset quality review is a work of art — minimalist artTradingFloor

'Over-Banked': ECB Tests Set to Reveal German System FlawsSpiegel
The ECB's upcoming review of the euro zone's largest banks could expose weaknesses in the German banking sector. It may also reveal Germany's political role in limiting the scope and efficacy of the Continent's nascent banking union.

ECB Bond Figures Paint Picture of a Happier Euro ZoneWSJ
Spanish and Italian banks have been offloading their government bonds in recent months, cashing in on increased demand from buyers amid signs of some stability in the euro-zone’s most problematic members.

Euro area: loans to households slowly increasingDanske Bank
Mario Draghi's Zombie-Infested Nightmare Just Got Worse... In Two ChartsZH

Draghi on the edge of deflationFT
The Credit Suisse European economics team are growing concerned about Mario Draghi’s disinflation problem:

Europe’s other debt crisisThe Economist
Debtors’ prisonThe Economist
It’s not just sovereign borrowing – there are too many zombie firms and over-indebted households

Ifo Business Climate Edges Upwards – CESifo
Does GDP Really Measure the UK’s Economic Growth? – WSJ
6 essential charts to explain the UK GDP figures – FT
U.K. Economy Grows at Strongest Pace in Three Years on Services – BB

U.S. durable goods orders, sentiment suggest politics hurting economy – Reuters
September Durable Goods Orders: Another Mixed Bag – dshort
Michigan Consumer Sentiment: Lowest Level Since December 2012 – dshort
Consumer Confidence Plunges To Lowest In 2013 – ZH
Final October Consumer Sentiment declines to 73.2 – Calculated Risk
U.S. consumer sentiment slides in October on government shutdown – Reuters