MoreLiver's Daily: 30th Sep

Now that Germany's general election is over, the biggest question is where Chancellor Angela Merkel will invest her enormous political capital. Her choice may well define the future of the eurozone and European integration.

The Eurozone’s Calm Before the Storm – Project Syndicate

A little more than a year ago, in the summer of 2012, the eurozone, faced with growing fears of a Greek exit and unsustainably high borrowing costs for Italy and Spain, appeared to be on the brink of collapse. Today, that risk has diminished significantly – but the factors that fueled it remain largely unaddressed.

Towards a European Banking Union – ECB

Keynote Speech by Yves Mersch, Member of the Executive Board of the ECB, 30 September 2013

PIIGS

Italy - Political deadlock once more – Danske Bank (pdf)

Following the resignation of Silvio Berlusconi’s ministers, Italy is once again heading for new elections – Europp / LSE

Statement by the EC and the ECB following the conclusion of the fourth review of the financial assistance programme for Spain – ECB

Spain: Statement on the Fourth Financial Sector Monitoring Mission – IMF

UNITED STATES

How QE Alters Bond Yields (Or Rather How It Does Not) – dshort

BofAML Warns "Risk Off" To Continue This Week – ZH

Three Budget Battles, Three Different Economic Risks – WSJ

The latest budget fight in Washington is really three different conflicts coming together: two of them are modest (though still meaningful) risks to economic growth; one of them, a debt default, could devastate the economy.

Don't forget what the shutdown is really about – Wonkblog / WP

This is all about stopping a law that increases taxes on rich people and reduces subsidies to private insurers in Medicare in order to help low-income Americans buy health insurance. That's it.

Every government shutdown ever, in one chart – Wonkblog / WP

The Old and New “Rome” Threaten Economic Recovery – PIIE

The neoclassical architecture of Washington, DC is not all that is evoking Rome these days. Regrettably, on the eve of a possible

government shutdown, the political scene in the nation’s capital increasingly looks like the fractured and malfunctioning politics of

Italy

, especially when it comes to right wing extremism.

Chicago PMI Jumps To 4-Month High Even As Employment Tumbles To 5-Month Low – ZH

OTHER

Key Events And Issues In The Coming Week – ZH

Emerging Markets Preview: The Week Ahead – Marc to Market

IMF World Economic Outlook (WEO) - Transitions and Tensions – IMF

October 2013 Analytical Chapters 3 and 4

FINNISH

EKP:lla on tilaa liikkua – Henri Myllyniemi / Piksu

Asuntolainojen marginaalien kasvu pysähtyi – TalSa

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Monday, September 30

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