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EUROPE
EUROPEAN
SEMESTER
European Semester 2016
Home – EC
Assessment of progress
and results of in-depth reviews – EC
Commission highlights
financial failings – Politico
Fall in EU economic
imbalances – Politico
BREXIT
The upcoming vote on the
UK’s membership of the EU has sparked a vibrant debate on topics ranging from
sovereignty and sterling to migrants and the military. This column discusses
evidence on the economics of Britain’s EU membership drawn from a recent
conference where both sides of the debate were represented.
MIGRATION CRISIS
Europe Shouldn't Ignore
Turkey's Contempt for Democracy – View / BB
Editorial: At Least the
EU and Turkey Are Talking – View / BB
Is the EU-Turkey refugee deal legal? – FT
EUROPEAN
CENTRAL BANK
Central bank risks
destabilizing banks if it pushes interest rates further below zero
Don’t Get Your Hopes Up for the ECB to Spark a
Rally in Stocks – WSJ
Whatever the European
Central Bank does on Thursday, a market rally requires more easing than
investors expect
OTHER
Slides from Feb-10
presentation
Thoughts on the Chinese Export Puzzle – Marc
Chandler
What if the helicopters
took off? – The
Economist
REGULARS
Profit-taking; BoE debate Brexit;
Norwegian stagnation * BoC and RBNZ meetings today * Global rates drop further
despite higher oil prices * EUR higher as markets beware of not-so-dovish
Draghi
Morning Markets – TF
A stark warning on global markets
from an IMF bigwig has helped force equities into retreat as the market also
absorbs the implications of China's shocking trade figures.
Euro Pushes Lower Ahead of ECB
20 Questions
Daily Shot – TF
Weak Chinese trade data
dampened sentiment across markets knocking industrial metals and oil prices
lower again. In the UK The Sun reported that the Queen backs a
"Brexit". And in the US small business sentiment stays on a downward
path productivity declines and the Treasury curve flattens reflecting
bearishness towards US growth.
Matt Levine’s Money Stuff
– View
/ BB
Bonuses, Taxes, Weed and
Gangs
EU leaders alienated by
Merkel-Turkey deal as Chancellor faces backlash amongst closest political
allies * Carney criticised by Leave campaign after describing Brexit as
“biggest domestic risk” to UK financial stability * Buckingham Palace dragged
into EU referendum debate after supposed pro-Brexit comments by the Queen * German
authorities brace for new wave of migrant-crisis related crime and radicalism *
Schäuble: No need to discuss Greek debt relief now * Polish President takes aim
at European Commission and Council of Europe as constitutional stand-off
intensifies * Hollande faces day of protests against labour market reform plans
* ECR group expels two MEPs from Germany’s populist AfD party * MEPs delay vote
on ‘critical’ counter terrorism legislation
Driving the MEPs — No
Turkish delight — What Brexit plans?
S&P Futures Jump As Rebound In
Commodities Helps Defense Of Key Support Trendline
The Bank of Canada is on
tap for this afternoon with little in the way of anticipation there while the
market could be highly reactive to RBNZ guidance and even more so to whatever
the ECB brings or doesn’t bring at tomorrow’s pivotal meeting.
Markets traded nervously
on Wednesday in the countdown to the European Central Bank's governing council
meeting on Thursday with traders itching "to see the whites of Draghi's
eyes" amid a feeling that another disappointment could lie just around the
corner.
FINLAND
& FINNISH
EKP:n
kokous määrittää euron askelmerkkejä * Englannin keskuspankki varoitti
Brexit-riskeistä * Öljysektori painaa Norjan talouskasvun nollaan
EU-komissio varoittaa – YLE
Suomi
hoitaa talouttaan rimaa hipoen ja suosituksista piittaamatta. EU-komissio on
lähettämässä Suomelle paimenkirjeen, jossa se varoittaa velan kasvusta ja
moittii, ettei Suomi ole saanut toteutettua uudistuksia.