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Thursday, May 8

8th May - ECB promises "next month"



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EUROPE
ECB is delighted by the splendid prospect of deflationThe Telegraph
The great mystery is why the voting public of debtor states continue to put up with an arrangement that ensures years of mass unemployment

United in Disunity: Populist manifestos for the European ElectionsDB Research
In the run-up to the European elections, populist parties continue to gain attention for their eurosceptic positions. However, a closer look at the party manifestos shows that most populist parties have only a few objectives in common. And even if they were to experience electoral success, their political influence in the next European Parliament may be rather limited. However, repercussions on the national level may become more salient after the elections.

Europe’s Bad Bank Assets Since 2008 Top $2.5 TrillionWSJ

Sweden Turns Macro-PrudentialWSJ
Sweden’s financial markets regulator raised capital requirements in an effort to control already heady levels of private sector debt and what looks like a housing bubble without having to resort to higher rates.

Russian Risk Runs Through Austrian EyesWSJ
As Russia’s economy risks heading deeper into recession, the fallout from an escalating sanctions battle is already causing collateral damage in Europe.

German ind. prod. weaker than expected, still pointing to higher growth – Danske Bank

UNITED STATES
What's fueling consumer credit growth in the US?Sober Look

The story of the American recovery in 15 chartsWaPo

ASIA
Economists React: China’s Exports Surpass Low Expectations – WSJ
Asia’s Exports are Improving — But Not Like the Glory Days – WSJ
The China over-invoicing export distortion is back (sort of) – FT
China: export growth in April driven by Europe and the USDanske Bank
China Extends Commodity Buying Tear – WSJ

OTHER
Grand Central: One Day, Two Views From Yellen on Reach For YieldWSJ
Yellen Offers Upbeat Outlook, but Points to Housing Risk * Bernanke to Get at Least $1 Million on Book Deal * BOE Leaves Policy Unchanged As Jobless Rate Falls

Macro Horizons: ECB Seen Sitting on Hands Even as German Data SoursWSJ

FINNISH
Nyt ohjauskoron lasku toimisiRoger Wessman

Stubb noussee ääniharavaksi, Rehn yllättääHS
Suosituimpien EU-vaaliehdokkaiden lista kertoo, että vihreille tulee kova sisäinen kisa europarlamenttipaikoista

Koko maailman sosiaalitoimistoPauli Vahtera / IL

Usko joutui koetukselleTE
Finanssikriisi horjutti talousteorian perusteita.Talous toipuu hitaasti, entä teoria?

EU:n suunta: Kuinka tiivis liitto?Ulkopoliittinen Instituutti
Tässä raportissa tarkastellaan Euroopan unionin (EU) kehitysvaihtoehtoja. Tarkastelun keskiössä ovat talous- ja rahaliitto EMU sekä siihen liittyvät, Euroopan rahoitus- ja velkakriisin liikkeelle sysäämät uudistukset.

Euroopan unionin lipputangoissa firmojen viiritJukka Hankamäki