Previously on MoreLiver’s:
Roundups &
Commentary
Frontrunning – ZH
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
Daily press summary – Open Europe
Broker Note Briefing – WSJ
Choppy FX Conditions in the Fog of War – Marc
to Market
Morning
Briefing (EU/US): Popular delusions and the blandness of accords – BNY
Mellon
The G7 statement: a camel is a horse designed
by a committee
EUROPE
Rajoy unconfined? – Free exchange
/ The Economist
As in other
countries in Europe, it is hard to unravel weak demand
for credit from feeble supply. But speaker after speaker pointed to credit
availability as a big problem. Spain's banking system is slimming down,
as failed banks are restructured.
Two EU countries shut down money laundering
probes – euobserver
Austria and Finland have said their companies did no
wrong in a case of suspected Russia-EU money laundering. But victims of the
crime disagree.
Cyprus a “Laundry Machine for Dirty Russian Money” – GFI
Russia Hemorrhages at Least US$211.5 Bln
in Illicit Financial Outflows from 1994-2011, Illegal Inflows of Capital
Estimated at US$552.9 Billion; Driving Underground Economy, Crime, Tax Evasion.
US$764.3 Billion in Total Illicit Flows (Inflows + Outflows) Measured. Russia’s Underground Economy Averages 46%
of GDP, 35% in 2011; Weak Governance and
Endemic Tax Evasion Lead to Increasing Outflows
OTHER
Market tries to
recover from G7 fallout – here comes G20 – TradingFloor
John J Hardy: The G7 confusion yesterday leaves the
market uncertain on the G20 outcome. Remember that the G20 is a much larger and
more unwieldy body. The meeting will be important for the JPY trajectory from
here.
G-20 Has Little
Chance of Preventing a Currency War – WSJ
CDS committee is
having a seriously bad month – alphaville
/ FT
Whether the nationalisation of SNS Bank counts as a
“credit event”...reveals some of the problems that might crop up in future bank
rescues and bail-ins of debt while demonstrating yet again that CDS don’t
appear to do what a reasonable person would think they do.
IN FINNISH
Saiko Bryssel tarjouksen, josta ei voi
kieltäytyä? – Jan
Hurri / TalSa
Kyproksen
"pelastaminen" voi olla europäättäjille yhtä kuin tarjous, josta ei
voi kieltäytyä. Mafiaelokuvassa uhkaava tarjous kuuluisi: te pelastatte
Kyproksen tai sitten itkette ja pelastatte. Oikea valinta ei ole sen helpompi:
europäättäjät joko pelastavat rahanpesijöitä tai sitten he syövät sanojaan – ja
ottavat riskin pääomapaniikista.
EU-maksukiista sekavoituu entisestään - Suomi
poikkeaa itse tekemästään päätöksestä – YLE
Hallituksen
ilmoittamat maksuluvut on laskettu valtiovarainministeriön omilla
laskukaavoilla, vaikka EU-ministerivaliokunta päätti jo kesällä 2007 soveltaa
komission laskutapaa.