Happy
holidays, no US close update today. Here's links to Europe's and China's latest PMI numbers and EU budget talks. Greece postponed to Monday.
Previously on MoreLiver’s:
Roundups &
Commentary
Overnight – ZH
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
Today’s front pages – presseurop
Daily press summary – Open Europe
Broker Note Briefing – WSJ
Reference
Debt crisis
live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
Economic
Calendar – Forexpros
EUROPE
PMI
Euro zone faces deepest downturn since early
2009 – Reuters
The euro
zone economy is on course for its weakest quarter since the dark days of early
2009, according to business surveys that showed companies toiling against
shrinking order books in November.
BUDGET
TALKS
The EU Doesn’t Deserve More Money – View
/ BB
The EU budget 'veto
count': and then there were ten... – Open
Europe
UK, Denmark, Sweden, Italy, France, Portugal, Latvia, The
Netherlands, Austria and Romania have now
explicitly threatened to veto the 2014-2020 EU budget.
The confusion of EU
budget maths – Open
Europe
Monuments to waste
overshadow EU budget battle – Reuters
EU leaders go into a budget battle on Thursday under
pressure to avoid some glaring mistakes of the past: half-empty motorways,
airports that barely see a flight and high-speed rail lines with few passengers
to repay vast construction costs.
EU Budget Showdown Pits Bee Subsidies Against
Veto Threat – BB
(video) Breakingviews: EU budget - political
dynamite – Reuters
The overall
size of the EU budget & state contributions both need a serious re-think.
It's political dynamite, says Reuters Breakingviews, not least because the UK may find its rebate hard to justify
(5:30).
EU attempts tricky balancing act in toxic
budget row – Reuters
European
Union negotiators believe they are close to securing British and German backing
for a deal on nearly a trillion euros of spending over the next seven years,
but last minute concessions may be needed to secure French and Polish support.
PIIGS
EU's Rehn sees definitive deal on Greek aid on
Monday – Reuters
Greece has taken all the steps necessary
to secure its next tranche of aid and euro zone finance ministers should be
able to sign off definitively on the assistance on Monday, the European
commissioner for economic affairs said on Wednesday.
BANKS
ECB May Get Merger Veto in Banking Union Plan – BB
European banks: same, same, and eventually
different – alphaville
/ FT
ASIA
China's vast manufacturing sector saw
expansion accelerate in November for the first time in 13 months, preliminary
results from a factory survey showed, a sign that the pace of economic growth
has revived after seven consecutive quarters of slowdown.
China must accelerate the pace of
financial reform in coming months to sustain economic growth, ratings agency
Moody's Investor Services said, forecasting the world's No. 2 economy will grow
7.5 percent each year from 2012 to 2014.
A Chinese recovery, but for how long? – alphaville
/ FT
OTHER
Morning Briefing (EU/US): Walk this way – BNY
Mellon
Central bank independence is not an absolute concept
and relatively speaking, the BOJ is going to lose out
Morning Briefing –
Thursday – Nordea
(pdf)
or read the summary
IN FINNISH
Indeksi: Euroalueen
talous heikkenee nyt "hälyttävää vauhtia" – HS
EK:n uusi nokkamies
puhui suunsa puhtaaksi – TalSa
Yleisiin palkankorotuksiin ei ole enää varaa ja Suomi on
menossa samaan suuntaan kuin Etelä-Euroopan maat.
Eräs valtiomies
liittovaltion mahdottomuudesta – tyhmyri