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Sunday, September 7

7th Sep - W/E: The World

Previously on MoreLiver’s:

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German politics: The Alternative’s astonishing ascent The Economist
As the large centrist parties become more alike, the radical fringe gets stronger

France and Friends: Merkel Increasingly Isolated on AusteritySpiegel
The debate over Germany's insistence on euro-zone austerity has flared anew as an ailing France continues to demand economic stimulus. The European Central Bank may now be siding with Paris, leaving Merkel looking increasingly alone.

Scottish Independence Poll Puts Separatists Ahead at 51% - BB
Undeclared War: Putin's Covert Invasion of Eastern UkraineSpiegel
Moscow has continued to deny direct involvement in the fighting in eastern Ukraine. But evidence to the contrary continues to mount. NATO says up to 1,000 Russian soldiers have joined the fray and the pro-Russian separatists have made a remarkable turnaround.

Ukraine, Russia and the West: The long gameThe Economist
The sad reality is that Vladimir Putin is winning in Ukraine. The West must steel itself for a lengthy struggle

The war in Ukraine: Reversal of fortuneThe Economist
Now willing to use Russian troops more or less openly in eastern Ukraine, Vladimir Putin has made decisive progress toward his goals

The economic battleground: Too smart by half?The Economist
Effective sanctions have always been hard to craft

Guest post: how vulnerable is Europe to a gas war?FT
The cost of cutting off gas to Europe is also a cost to the Russian state. Gazprom would forego €4bn to €4.5bn of revenues. Yet this is equal to just 3.5 per cent of its annual revenues. For several years, Gazprom has earned far more money on the domestic market and from other CIS countries than from exports to Europe. The events of recent months have shown that when push comes to shove, if Putin is forced to choose between Russia’s national interest and Gazprom’s bottom line, he clearly will go with the former.

Western Leaders in Denial on Ukraine SanctionsView / BB
The European Union appears determined to impose more sanctions on Russia, whether or not the warring sides in Ukraine can sustain a cease-fire.

EU Completes Plan to Broaden Economic Sanctions on RussiaBB
European Union diplomats approved the EU’s broadest sanctions yet against Russia, highlighting doubts that a cease-fire in Ukraine will hold.

Russia 'will react' if EU implements new sanctions: Foreign MinistryReuters

Leaders of Russia, Ukraine say ceasefire holdingReuters
The presidents of Russia and Ukraine said that a ceasefire between Ukrainian government forces and pro-Russian separatists was holding up fairly well and they discussed urgent humanitarian aid for the shattered region.

Ukraine Truce Turns Tenuous as Both Sides Report DeathsBB
Renewed shelling threatens Ukraine ceasefireReuters

The ECB Throws down the GauntletPIIE
No amount of fiscal and monetary stimulus is going to restore business confidence and private investment in France and Italy in the absence of credible structural reforms. Every actor in Europe therefore has good reasons to act. The ECB just raised the pressure a little more.

Why Draghi's ABS "Stimulus" Plan Won't Help Europe's EconomyZH
It takes the ECB about three months to buy 1 billion euros of these securities, "the number that's circulating the market is 500 billion euros, but where is he going to get it from?" Add to that the report from Die Welt that The ECB lacks sufficient expertise for ABS purchases

5 Takeaways from the August Employment Report – WSJ
Much worse-than-expected employment report in August – Nordea
Very disappointing job report – too bad to be true – Danske Bank
US Employment Situation – August 2014 – Global Macro Monitor
Here’s Why You Shouldn’t Worry About the Jobs Report – WSJ
Payroll Employment: Best Years, Worst Month – Calculated Risk
US labor markets Q&A – Sober Look

China’s shadow banks: A moving targetThe Economist
Will rising defaults and stricter rules halt the breakneck growth of China’s shadow banks?