Roundups &
Commentary
Frontrunning – ZH
Overnight: VIXterminating, Volumeless Ramp – ZH
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
Daily press summary – Open
Europe
SPD election manifesto: Mutualisation of
eurozone debt must not remain a taboo
Morning MarketBeat: S&P 500 At 1887? Could Happen –
WSJ
Sterling Suffers,
Yen Pops Back – Marc
to Market
Morning
Briefing (EU/US): Return to the fray – BNY
Mellon
An
update on the SNB’s management of the CHF cap
EUROPE
Europe’s Accounting Rules Are Destroying Its
Banks – View
/ BB
The
European Commission officials were sufficiently worried by the U.K. investors’
charge -- namely that because of EU accounting rules, banks may have
systematically overstated their assets and distributed nonexistent profits as
dividends and bonuses -- that they said they would open an inquiry. Last week,
the board that administers the rules put forward its own proposals. These are
likely to perpetuate, not fix, the problem.
Europe has spent hundreds of billions of
euros rescuing its banks but may have lost an entire generation of young people
in the process, the president of the European Parliament said.
Germany's economy is still shaken by the
euro zone crisis and the bloc's woes pose the biggest risk to the outlook,
Bundesbank chief Jens Weidmann said on Tuesday, adding growth should pick up
later this year.
Bundesbank Almost Doubles Risk Provisions on
ECB Measures – BB
Germany’s Bundesbank almost doubled its
risk provisions in 2012, citing increased potential for losses stemming from
the ECB’s monetary policy.
Some more signs of financial market
fragmentation in the eurozone? – Open
Europe
The
European Repo Council of the International Capital Market Association (ICMA)
released its bi-annual assessment of the European repo markets today.
Beppe Grillo, the Five-Star Movement and the
euro enigma: Episode 2,478 – Open
Europe
Chart of the week: Is external adjustment
working in the euro area? – bruegel
If the euro
area does not or cannot move to permanent current account surplus, then Germany should make a net contribution to
demand by increasing imports more than exports. Given the demand deficiency in
the euro area, there is a clear case for strengthening demand in Germany.
ASIA
Regulators
have been turning the screws on some of the dodgiest practices in shadow
banking at the same time as customers have grown more aware of the risks. These
twin developments won’t spell the end of Chinese shadow banking – but they
could well spell the end of its torrid rise.
OTHER
Peak Oil Is Almost Here and There’s No Magic To
Counter It – All
About Alpha
Interview
with Dave Summers
IN FINNISH
Tehdyn työtunnin
kustannus nousi loka - joulukuussa 4,3 prosenttia – Tilastokeskus
Kemianteollisuus
viennin ainoa kasvuala – EK
EU:n virkamiesten
pitäisi kertoa totuus taloudesta – Vieraskynä
/ HS
Tuoreiden kasvulukujen valossa on selvää, että säästötoimet
ovat heikentäneet euroalueen taloutta. EU-komissaarit myötäilevät kuitenkin
isoja jäsenmaita turvatakseen oman urakehityksensä.
Talousvaivat eivät
nosta äärioikeistoa – Pääkirjoitus
/ HS
Euroopan velkakriisi ja kriisimailta vaaditut säästöt
myllertävät eurooppalaista politiikkaa. Historiatietoinen odotti jonkinlaista
1930-luvun paluuta ääriliikkeineen. Sitä ei ole tullut: on tullut pellejä,
populisteja, vakaviakin vaihtoehtoja ja sortumia vanhoihin valtarakenteisiin.
Onko politiikka
pelkästään pelleilyä? – Henri
Myllyniemi / US Puheenvuoro
Politiikan seuraamuksia Italiassa – Henri Myllyniemi
/ piksu