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Monday, September 21

21st Sep - Speech week

Previously on MoreLiver’s:

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Euro area politics: overview of upcoming elections and risksPictet

Euro area Research: Weaker growth outlook due to China and EM Danske Bank

EMU Troubles: The Narrow Way OutFrancesco Saraceno

Euro Area Deflation MonitorDanske Bank
A temporary dip back into deflation

Fed inaction means Draghi won’t needle BerlinPolitico

Enhanced statistics on loans to private sectorECB

Finland faces biggest strike in decades over tough reformsFT
An unjustified ratingFrances Coppola

Germany Economic Outlook: New challenges while growth is pretty robustNordea

7 takeaways from the Greek election – Politico
Tsipras consolidates power in Greek election – Open Europe
Syriza again, but who will they team up with? – Nordea

The EU Is Disintegrating Before Our Very Eyeseuinside
One by one member states are becoming panic-stricken and terrified about how are they going to deal with the tens of thousands of refugees that are trying to get to the EU and find protection

Europe’s migrant crisis: Shooting Schengen The Economist
Only an EU-wide agreement on asylum can save passport-free travel in Europe

Europe starts putting up wallsThe Economist
Germany and other countries reimpose border controls

Are mandatory refugee quotas dead?FT

How will the EU enforce its refugee relocation plan?FT

FOMC meeting: Fed takes the cautious approach – Danske Bank
Economists React: ‘Relief’ – WSJ
Why the Fed might not raise rates anytime soon – WaPo
Fed review: rates on hold now – but first hike imminent – Nordea
Macquarie Bank: "Helicopter Money" Is 12-18 Months Away – ZH
Managing the Fed’s Liftoff and Transmission of Monetary Policy – IMF
Deutsche Bank: Tapering QE3 was an error – ZH
Goldman Calls It: No Rate Hike Until Mid-2016 – ZH
Paul Krugman: The Rage of the Bankers – NYT

Nine Items on My Radar Screen: Are They on Yours? - Marc Chandler

FX: warning signs Nordea
As expected the "no hike" from Fed was not cheered - the signalling effect predominates. Expect Fed members try to calm down the Markets this week. But going forward - China is key for the risk sentiment and thus the USD direction...

Two Bits of Advice for the Fed Aleph Merkel

Haldane on coping with the zero bound Tony Yates

Haldane on alternatives to QE, and what he missed out Simon Wren-Lewis

What do macroeconomists know anyway? Simon Wren-Lewis

China Watch – Ten urgent questions ABN AMRO

Morning MoneyBeat AsiaWSJ
U.S Stocks Extend Losses in Fed Fallout

Morning MoneyBeat EuropeWSJ
Greeks Make Their Position Clear

Morning MoneyBeat USWSJ
Full Week of Fed Speak on Tap

Danske DailyDanske Bank

Euro rates updateNordea

Tsipras returns, growth worries hit equities, EUR weaker * Weak PMIs from China and Europe * Yields continue lower on further ECB QE expectations * After a day of strengthening on Fed, the EUR weakens

Morning MarketsTF
Markets continue their struggle to digest the extent of the new dovishness displayed by the Federal reserve last week – and particularly its fears regarding China. But the man grabbing the front pages this morning is Greece's Alexis Tsipras and his stunning election victory.

Daily ShotTF
Last week's dovish rate cut decision from the Federal Reserve was predicated on concerns over China and emerging markets where continued softness endangers global growth.

Daily Press SummaryOpen Europe
German Interior Minister calls for EU cap on number of asylum seekers as leak suggests Commission’s mandatory quota dropped * Tsipras consolidates power as election renews mandate of coalition government * Cabinet members urge Cameron against snap EU referendum * Cameron wants Conservative party machine to remain neutral during EU referendum campaign * Moody’s downgrades France, forecasting low growth for the rest of this decade * Wilders PVV seen as leading polls in the Netherlands

Brussels PlaybookPolitico
Syriza the Sequel — Uber’s new strategy — Turkey deal sought

US Equity Futures Trade Near Overnight Highs On Renewed Hope Of More BOJ QE

FX UpdateTF
The post-FOMC USD rout yielded to a late Friday rally as the bears took a second look at whether other central banks will out-dove the Fed. EURUSD is suddenly on the defensive and may look lower this week.

From the FloorTF
The dollar reversed the post-FOMC losses Friday and now looks like it could be ready to really bring some pressure on the euro.

Kiina-epävarmuus jatkuu * Syriza jatkaa suurimpana puolueena Kreikassa * Fedin kokous näkyi koroissa myös perjantaina * Ruotsin hallitus esittää budjettinsa vuodelle 2016

Väyrysen EU-ennustus: "Suomi joutuu jatkuvasti riitelemään"TE

Fakta homma Taloutta ja Historiaa

Talousnobelistin neuvo Sipilälle: Mieti kasvua, älä valtion velkaa YLE
Suomessa vieraillut talouden nobelisti Joseph Stiglitz antoi Yle Uutisten haastattelussa kolme ilmaista neuvoa Juha Sipilän hallitukselle. Muu aika puhuttiinkin työläisten oikeuksista ja euron epäonnistumisesta.

Jan Hurri: Työvoima ja pääoma ottavat taas mittaa toisistaanTalSa
Perjantain suurmielenosoitus oli esimakua, mitä siitä seuraa, kun taantuman lisäksi nyt myös talouspolitiikka näyttää käyvän työtä tekevän keskiluokan kimppuun. Samalla se muistutti ikivanhasta vastakkainasettelusta työvoiman ja pääoman välillä.

Liikanen vaatii hallitukselta tasapuolisuuttaYLE
Liikanen: Turvapaikanhakijoista apua hyvinvointivaltion rahoittamiseen YLE