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Monday, February 9

9th Feb - Greece, HSBC leaks, Greenspan on €

Previously on MoreLiver’s:

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Europe FracturesZH
France Pivots To Putin, Cyprus Offers Moscow Military Base, Germany-US Splinter On Ukraine

The four unions "PIE" on the Monetary Union "CHERRY"ECB
-a new index of European Institutional Integration

Comparisons and contrasts of the impact of the crisis on euro area labour marketsECB

FX: 5 reasons DKK peg won't go – Nordea

Ukraine's impending debt restructuring – Sober Look
German-French Push Yields Ukraine Summit Plan With Putin – BB

SNB Reduces Holdings in Apple, Exxon, J&J, SEC Filing Shows – BB

[audio] Greenspan: I believe Greece will eventually leave the Eurozone – BBC
Greece: Greenspan predicts exit from euro inevitable – BBC
Greenspan Sees Greek Exit From Euro as Just a Matter of Time – BB
Get ready for Greece to leave euro, says Greenspan – The Telegraph
Alan Greenspan says Greece will have to leave eurozone – The Guardian

Greece is Playing to LoseProject Syndicate
Whatever form the surrender takes, Greece will not be the only loser. Proponents of democracy and economic expansion have missed their best chance to outmaneuver Germany and end the self-destructive austerity that Germany has imposed on Europe.

Münchau: All Grexit needs is a few more disastrous weeks like this – FT
Crunch Time as Greece’s Terrible Deadlines Loom – Wolf Street
Little space for compromise between Athens and eurozone – BBC
Greece: The Tie That Doesn’t Bind – Krugman / NYT
A debt-for-equity swap, or just something for something else? – Tony Yates

Tsipras Risks Overlooking Greece’s Lack of Access to Markets – WSJ
Greece: The Tie That Doesn’t BindKrugman / NYT
Geostrategic Implications of a Grexit – Marc to Market
Argentina’s Lessons for GreeceProject Syndicate
Why Syriza might be up to tackling corruption in GreeceEuropp / LSE

Greek PM Tsipras sets up another EU clash, refuses bailout extension – Reuters
No extension to Greek bailout, says Tsipras – FT
Tsipras Rejects EU Ultimatum, Demands Bridge Deal – ZH
Greece's Tsipras defiant over economic plans – BBC
Tsipras Says Greece Seeks Bridge Accord Until June – BB

Greek finance minister says euro will collapse if Greece exits – Reuters
Greek FinMin Warns "Euro Will Collapse If Greece Exits", Says Italy Is Next – ZH
Varoufakis Warns "Cloud Of Fear Becoming Worse Than Former Soviet Union" – ZH

U.K. Is Readying Contingency Plans for Possible Greek Eurozone Exit – WSJ
UK Begins Preparations For Grexit – ZH
UK planning for possible Greece exit from the eurozone – BBC

Washington urges eurozone leaders to compromise with AthensFT
U.S. urges euro zone leaders to compromise with AthensReuters

Euro Working Group President Wieser to visit Athens on Monday – Reuters
Juncker tells Greek PM: don't assume euro zone will accept your plans – Reuters
EU Urges Tsipras to Rein In His Ambitions for Rollback – BB
Varoufakis “ECB Lost Control Of Monetary Policy”, Germany " No Way Out" – ZH

Greek Bank Bonds & Stocks Crumble To Record Lows – ZH
UBS:  "A Market Dislocation Necessary”, “Stop Underestimating Grexit Risks" – ZH

Improvements in the euro area credit conditions should not be ignoredSober Look

The ECB has learnt nothing from Japan's lost decadeThe Telegraph
Quantitative easing on its own will not save the eurozone – it must start more aggressive policy and price-level targeting, says Scott Sumner

Only raise US rates when whites of inflation’s eyes are visibleFT
Lawrence Summers: Aborting recovery and risking a further slowing of price rises is potentially catastrophic

China's trade performance slumped in January, with exports falling 3.3 percent from year-ago levels while imports tumbled 19.9 percent, far worse than analysts had expected and highlighting deepening weakness in the Chinese economy.

China's imports slump, capping dismal January trade performance – Reuters
China's imports drop 20% explaining PBoC action – Sober Look
China’s policy dilemma deepens on record trade surplus – FT

Daily Central BanksWSJ
Hilsenrath’s Take: The Fed’s Republican Tries Talking Republicans Out of “Audit the Fed” * Fed’s Rate Dilemma: Job Gains vs. Low Inflation * Jobs Data Boosts Odds the Fed Could Lose Patience in March * Fed’s Plosser Says It’s Getting Hard to Justify Not Raising Rates * Fed’s Lockhart Eyes June or Later Rate Rise

Daily MacroWSJ
Another day, another Greek drama * Evidence that China’s competitiveness is suffering from a strengthening dollar - temptation to restore growth through an aggressive devaluation - irrespective of what spillover effects it might have on world financial stability.

Danske DailyDanske Bank

Getting harder for the Fed to stay on hold * Rates jump – beginning of the end? * FX market pricing in super-soft Riksbank

Challenging MondayMarc to Market

Daily Shot: 'China watchers' wrong againTradingFloor
The newest data out of China show exports dropping fast and imports dropping even faster. The question of Chinese demand, of course, has global ramifications across markets, sectors and asset classes. Meanwhile, Denmark is struggling to maintain its currency peg and Canadian housing data are looking very frothy.

US Open ZH
Europe, US Risk Off After Greece Rejects European Ultimatum, Ukraine Peace Talks Falter

FX Update: USD resurgence looks for confirmation this weekTradingFloor
Friday's US jobs report – as good as it gets * Jobs report sets the scene for USD comeback * Greek government remains defiant on debt

From the floorTradingFloor
Massive NFP print puts dollar rally firmly "back on track", says Hardy * A break of key resistance at 119.25 could propel USDJPY towards "125" * Poor China trading data scuppers AUD * Pressure on EUR mounts as Greece, Ukraine crisis weigh * One-month EURUSD at 12.5% in Asia trading, despite "illiquid" market 

Eight Points on the Investment Climate and the Dollar Marc to Market

Central Banks Move to Drive Down Currencies, Yielding Domino EffectWSJ
Interest-Rate Cuts, Asset Purchases Ricochet Through Foreign-Exchange Markets; ‘Unspoken Currency War Has Broken Out’

Currency wars and central bank credibilityFT
If everyone is playing the same game, all we will end up with is more and higher FX volatility.

The private-banking unit of HSBC Holdings Plc made significant profits for years handling secret accounts for an array of criminals, from drug cartels and arms dealers to tax evaders and fugitive diamond merchants

HSBC files show how Swiss bank helped clients dodge taxes and hide millions – The Guardian
Leaked HSBC List Shows Who Was Banking on Swiss Secrecy – BB
Explore the Swiss Leaks Data – ICIJ
HSBC admits Swiss bank failings over client taxes – Reuters

Katseet Kreikassa ja euroaleen BKT-luvuissa | Perjantaina julkistetut työmarkkinaluvut lisäävät painetta Fedille | Kiinan vienti oli ennakoitua heikompaa

Vuoto: Suurpankin asiakkaina rikollisia laidasta laitaanMOT / YLE

Alan Greenspan: eurolla ei tulevaisuutta ilman poliittista liittoaPS
USA:n keskuspankin ex-pääjohtaja: euroalue tuhoon tuomittuJuhani Huopainen
Suomen laskennallinen tappio Kreikan tukilainoista 2,5 miljardiaPS

Euroopan totuuden hetki lähestyy – Henri Myllyniemi / US
Kestääkö euro Syrizan politiikan? – Antti Ronkainen
Kreikka: tilaisuus terveemmälle kriisipolitiikalle euroalueellaPeter Nyberg

EKP:n elvyttävä rahapolitiikka sopii SuomelleSuomen Pankki
Rahapolitiikka ei ratkaise rakenteellisia ongelmia mutta kasvua tukevana se sopii Suomen taloustilanteeseen

Valtapoliitikot hiipuivat hissuttelijoiksiHS
Vaalikevät alkoi suurten puolueiden hissuttelulla, Unto Hämäläinen kirjoittaa