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Sunday, February 22

22nd Feb - W/E: The World & Markets

Previously on MoreLiver’s:

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The return of Jew-hatred: Europe has an obligation to protect its JewsThe Economist
Anti-Semitism in Europe: Fear of a new darknessThe Economist
Toulouse, Brussels, Paris and now Copenhagen. The list of European cities where Jews have lately been murdered for being Jews grows longer.

Sex pest cases, fraud or porn but Eurocrats keep their jobsThe Telegraph
Inside the glittering buildings that line Brussels' Rue de la Loi, unseemly behaviour is often met with little more than a slap on the wrist

German politics: Defeat on the ElbeThe Economist
An election in Hamburg underlines the domestic weakness of Angela Merkel

U.S. Units of Deutsche Bank, Santander Expected to Fail Fed’s Stress TestWSJ
Two Big Problems With Deutsche Bank Failing The Fed's Stress TestZH
Shortcomings seen in how banks measure and predict potential losses and risks

Moody's "Junks" Russia, Expects Deep Recession In 2015ZH

Denmark treads where Switzerland failed - is “history repeating?”Not a Yes Man

Eurogroup statement on Greece – EC
Statement Redline Comparison With Previously Rejected Statement – ZH
Why 4 And Not 6 Months – ZH
Greeks and eurozone agree bailout extension – FT
Greece, euro zone creditors reach accord on loan – Reuters

Greece and Europe agree to a compromise, avoiding financial catastrophe – WaPo
Benchmarking the Greece/Eurogroup Bailout Memo and Process – Yves Smith
Greece bends to Eurozone will to find short-term agreement – Open Europe
You Say Debt Relief, I Say Theft – View / BB
Scoreboard: Here's What Each Side Got in the Greece Negotiations – BB

What Would Happen if Greece Leaves the Euro Zone? – Spiegel
Greece surrenders, but how long will the armistice hold? – Capx
Greece saved from disaster - for two days – BBC
A Comment on Greece – Calculated Risk
Greece and the EU: a question of trustFrances Coppola

Greece: a simple macroeconomic guideSimon Wren-Lewis
You've heard the Greek crisis myths, now here are some truthsMacropolis
Bailout extension receives mixed reactions across Europe
Griechenland muss seine politischen Träume begraben – Die Welt
Greece says euro zone deal won time as cash bled from banks – Reuters

The Real Battle Over Greece Still Lies Ahead – BB
How Greece Got Outmaneuvered – New Yorker
What's Next For Greece, The Euro, And Markets? – ZH
Greece averts bankruptcy and softens austerity in last-ditch deal – The Telegraph
The Politics of the Euro Area Crisis, Greece and the ECBICMB
Greece’s fate: In Angela Merkel’s hands?Fortune

Why European Bondholders Refuse To Sell To The ECBZH

The 2015 Economic Report of the PresidentWhite House

A new crop of candidates discovers the father of supply side economicsWaPo

Obama: The Vox conversation
Part One: Domestic Policy – VOX
Part Two: Foreign Policy – VOX

GS: Smart Money Selling, Not Buying, Valuations In The 99th PercentileZH

Deutsche Bank: 0% Upside To S&P 500 "Fair Value" From HereZH

28 years hard capitalFT
The Shiller PE surpassed its 2007 peak on Thursday… One of the last markers of the old path as we stride on into unfamiliar territory. Maybe this is nuts, but we haven’t crashed yet…

Are the World’s Biggest Banks Moving Money for Terrorists?BB
How a New Jersey lawyer is fighting to make banks liable for violent deaths at the hands of extremists

The Hot New Statistic Oil Traders Are Watching Is 71 Years OldBB
The sudden interest in Houston-based Baker Hughes’s rig counts shows how desperate traders have become to find the bottom of the oil market after the biggest collapse since 2008.

Bubbles ‘Wherever We Look’ Unnerve Top Nordic Buyout FundBB
The biggest buyout fund in the Nordic region says an unprecedented era of monetary stimulus is inflating asset prices across markets to extreme levels, with history offering little help in predicting how it will all end.

A Tug of War: Overnight Versus Intraday Expected ReturnsAlpha Architect
100% of the momentum premiums remarkably occur overnight, rather than intraday…ALL returns associated with stocks are from holding overnight risk.

[Kreikka] Päättymätön tarinaPeter Nyberg

Troikka on Kreikan ystäväHenri Myllyniemi / US

Kreikka on liian helppo syntipukki kriisiinJan Hurri / TalSa
Kreikka on talous- ja rahoituskriisiin vain osasyyllinen. Yhtä suuria syypäitä ovat Saksa, EKP ja EU-komissio. Niiden komennossa Suomikin on kiltisti osallistunut Kreikkaa rahoittaneiden suurpankkien eikä suinkaan Kreikan pelastamiseen. Nyt pankit on pelastettu, joten Kreikan kovistelukin on koventunut.

Miksi Kreikka ei saanut parempaa sopimusta – haluttomuus katsoa peli loppuunTyhmyri

Lobbari kertoo: poliitikkojen päätöksiin ei voi vaikuttaa – paitsi että oho, juuri vaikuttiNYT