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Thursday, March 20

20th Mar - EU summit, banking union deal

Previously on MoreLiver’s:

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Statement of the ECB on SRM agreementECB

EU Reaches Deal on Bank-Failure Bill After Marathon TalksBB
European Union lawmakers struck a deal on legislation to create a single agency to handle failing euro-area banks after an all-night negotiating marathon ahead of a summit of EU leaders starting today in Brussels.

Europe strikes deal to complete banking unionReuters
Europe took the final step to complete a banking union on Thursday with an agency to shut failing euro zone banks, but there will be no joint government back-up to pay the costs of closures.

Factbox: Key facts about Europe's banking unionReuters
Europe struck a deal on Thursday to complete a banking union with an agency to shut failing euro zone banks, but there will be no joint backstop for a fund to pay the costs of closures.

Awaiting the next Russian blacklist – FT
How stiff is EU’s resolve? – Reuters
Barroso gives little away – FT
Cameron focuses on EU reform – FT
What to expect on UkraineFT
12 names on EU sanctions – FT

Guest post: Ukraine’s debt — now comes the interesting bit – FT
The Honeymoon Is Over: Ukraine To Stun Citizens With 40% Gas Price Hike – ZH
Banks’ exposure to Russia by major economy - FT
Ukraine Goes Cyprus 2.0, To Tax Deposits Over 100,000 Hryvnia (To Appease IMF?) – ZH

Five reasons why the long-term jobless don’t matter to the economyWaPo

Long-term jobless face a dark future in U.S.: studyReuters
The millions of Americans suffering through long stretches of unemployment could be left behind as the economy strengthens, a study by an influential former White House economist found.

Grading Yellen: ‘It Was a Poor Performance’ – WSJ
FOMC Economic Outlook – Bespoke
Dollar Consolidates Gains after Yellen Lays an Egg – Marc to Market
For more on FOMC, see my ‘Special’.

Fed Says 29 of 30 U.S. Banks Meet, Exceed Capital Targets in Stress Test – BB
The Fed's Annual "Stress Test" Is Out: 29 Of 30 Banks Pass – ZH
All big U.S. banks but one pass Fed's health test – Reuters

Philly Fed Business Outlook: Rebound in March – dshort
Philly Fed Jumps As Employment Plunges To 9-Month Lows – ZH
Conference Board Leading Economic Index Increased in February – dshort
U.S. economic activity gauge rises in February – Reuters
Leading Index Rises More Than Forecast Signaling U.S. Pickup – BB
Existing Home Sales Lowest In 19 Months, Cheapest Home Sales Tumble 18% - ZH
Existing home sales edge down in February – Reuters

Sales of Existing Homes in U.S. Fall to Lowest Since 2012 – Reuters
Home Sales in Feb: 4.60 million SAAR, Inventory up 5.3% - Calculated Risk
Comments on Existing Home Sales – Calculated Risk

BOJ Beat: Don’t Fear Leaving Deflation Behind WSJ
There's nothing to fear about leaving chronic deflation behind and entering a new world of mild inflation. That seems to be key message that Bank of Japan Gov. Haruhiko Kuroda delivered on the first anniversary of his coming into the job.

Abenomics Outlook: Ya Gotta BelieveWSJ
Japan’s big new economic stimulus program has had a remarkably effective launch. But despite the bold talk of “regime change,” officials still suffer from “a lack of credibility” about their determination and ability to end two decades of decline.

FX Board for March 20, 2014: USD blast-offTradingFloor
The US dollar has blasted to the strong side and is sending an unambiguous signal that it can’t be ignored – especially (and finally) against the major European currencies. JPY outlook is less clear.

EMEA Weekly: Russia remains a headacheDanske Bank

Hallitus ei voi laskea talouskasvun varaanRoger Wessman

Keskustan eurovaalikannatus romahtiYLE
Taloustutkimuksen kannatusarvion mukaan kokoomus ja perussuomalaiset voittaisivat yhden lisäpaikan, ja vasemmistoliitto palaisi takaisin Euroopan parlamenttiin.

Äänestäjät potevat pahenevaa luottamuspulaa eduskuntaa ja EU-päättäjiä kohtaan YLE
Tutkija on sitä mieltä, että epäluulo päättäjiä ja instituutioita kohtaan ei ole pahasta vaan osoittaa, että emme elä banaanivaltiossa. – Epäluulo on tervettä, sanoo Åbo Akademin erikoistutkija Lauri Rapeli.

Terveisiä Natosta!Petrus Pennanen / US

Venäjän ”esitanssijat” ja Suomen 5. kolonnaArto Luukkanen / US