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EUROPE
A Fragile Rebound for EU Image on Eve of
European Parliament Elections –
PEW
EU Favorability Rises,
but Majorities Say Their Voice Is Not Heard in Brussels
European Companies Write Off Half A Trillion
Dollars Due To "Culture Of Late Payment" – ZH
The BOE’s Difficulties Start With the First
Hike – WSJ
Overvalued Greek equities are sharply down and
will fall further – TradingFloor
German Investor Confidence Drops for Fifth
Straight Month – BB
EUROPEAN
CENTRAL BANK
ECB delays will prolong the price stability
pain – FT
Groundhog day (ECB) – Antonio Fatas
It is hard to know how
much the wait-and-see attitude of the ECB is a sign of a compromise to
acknowledge the threat of low inflation even if there is no consensus on how to
deal with it or a truly cautious approach to dealing with challenging economic
times.
The ECB plans to ease, but how? – Money
and Banking
If the ECB is serious
about raising inflation expectations and returning inflation to its target over
the medium term, a weaker euro appears to be the simplest, most effective route
(as one of us previously hinted), but the value of the euro itself is neither a
current nor a likely future objective of ECB policy.
Currency 'Cold War': Euro Until The Next ECB
Meeting - BofA Merrill – eFXnews
The ECB has now
officially joined the increasing list of central banks directly or indirectly
targeting their exchange rate since the global financial crisis
Strong euro may be a monster Draghi can’t tame – MacroScope
/ Reuters
Eurozone deflation: A survey of UK-based
macroeconomists – voxeu.org
Although Eurozone
inflation has persistently surprised on the downside and has been below 1%
since October 2013, the UK macroeconomics profession is not convinced
that this heralds a deflation. In the second monthly survey by the Centre for
Macroeconomics (CFM), summarised in this column, a small majority of
respondents do not think there is a significant risk of Eurozone deflation in
the next two years. But nearly two thirds of respondents to the CFM survey
think that sustained Eurozone deflation would pose a significant threat to the UK recovery.
Bundesbank ready to
support ECB action if it is needed: Sources – Reuters
Bundesbank Puts the
Reality of ECB Stimulus ‘Into Words’ – WSJ
Bundesbank Support for ECB Stimulus Not to Be
Automatic – BB
UNITED STATES
Retail Sales increased 0.1% in April – Calculated Risk
Retail Sales increased 0.1% in April – Calculated Risk
April Advance Retail
Sales: A Major Disappointment – dshort
Retail Sales Miss
Expectations – Bespoke
China’s economic slowdown deepened with unexpected decelerations in
industrial-output and investment growth and a decline in home sales, testing
policy makers’ reluctance to step up monetary stimulus
Housing Unlikely To
Alter BOE’s Course * Bundesbank Open to Significant ECB Stimulus if Inflation
Forecasts Lowered * Sen. Paul Threatens to Delay Confirmation Votes for Three
Fed Nominees * Could RBI Governor Rajan Be Ousted By a New Government? * Lew
Urges China to Move to Market-Determined Exchange Rate
Macro Horizons – WSJ
Data Show How Much
Slack Still Exists in Global Economy
Dollar Advances – Marc to Market
FINNISH
Yhteisvaluuttaliittovaltio – Antero
Vartia / US
Helsinki-Tallinna
- epäsymmetrinen shokki, miten käy Helsingin? – Kimmo
Saarikko / US
Taloudessa
on vaihtoehtoja – Pohjolan
Sanomat
Devalvaatiohan on aina korjannut
vientiteollisuuden kilpailukyvyn ja aina kansalaisten kustannuksella.
Cambridge-tutkija
Sakari Puisto: Euro ei jousta, joten työttömyyden on joustettava – Sakari
Puisto / PS
Euron
synnyttäminen oli ”harkittu rikos” – PS
Kiinan
maltillinen hidastuminen jatkunut – Roger
Wessman