EUROPE
Brussels blog round
up –
Europp
/ LSE
US spying row, Czech elections, and should the left give up on equality?
Merkel's Europe - how her men run Brussels – Reuters
Postwar humility
"done with", as Germans seek EU power
Reality Check:
Germany's Defective Green Energy Game Plan – Spiegel
Germany pretends to be a pioneer in the green revolution. But its
massively expensive Energiewende has done nothing to make the environment
cleaner or encourage genuine efficiency. One writer argues: Either do it right,
or don't do it at all.
Analysis: Black Sea gas bonanza remains elusive – Reuters
Southeast Europe is
hoping increased natural gas exploration in the Black Sea will help cut its dependency
on Russian supplies, but a gas bonanza remains elusive and Moscow is taking
steps to defend its dominant position in the region.
“EURO-VISION”
Charlemagne: A democratic nightmare – The
Economist
Euro zone suffers
from integration fatigue – Reuters
The euro zone is suffering from integration fatigue and banking union
might be the last big push for the foreseeable future, officials in the
currency bloc say.
EU Apathy: Leaders
Fail to Make Progress at Summit – Spiegel
This week's European
Council summit was sidelined by new accusations of US spying in Europe. But
despite the distraction, it's clear EU leaders have deferred plans for greater
integration, and lack the political will to address pressing concerns like
migration.
Positive net capital
inflows boost EUR – TradingFloor
Eurozone net capital flows continue to provide a solid backdrop to the
EUR at a time when international investors are increasing their allocations to
Europe.
BANKS
This is your euro
on AQR
– FT
Fixing Europe’s banks: Cleaning the Augean
stables – The
Economist
IMF: EU Hid Sensitive Data on its Financial
Sector – WSJ
The paper reveals that
the EU and its member countries deleted sensitive information about their
financial sector in more than a quarter of the IMF’s reports on their economies
last year.
This year in banking
crises – voxeu.org
Much has happened since VoxEU published an eBook on the banking union in
Europe one year ago. In this column, the editor of the eBook reviews the
developments and plans of the past year. Many of the issues flagged by eBook
contributors are still relevant and have not yet been addressed. While
immediate pressures seemed to have receded, the crisis is still very much with
us and is still awaiting resolution.
An encouraging start
for the ECB’s Big Bank Review – Bruegel
Thus, the conflict between the ECB and member states will escalate. It
is likely to trigger significantly more financial-market volatility in 2014
than Europe has witnessed (so far) in 2013, in spite of sizeable internal
shocks this year such as the February election in Italy and the March
developments in Cyprus, and external ones such as the turmoil in emerging markets
and the recent US fiscal drama.
Buba warns of extra
workload for banks ahead of ECB bank checks – Reuters
ECB's bank asset
quality review is a work of art — minimalist art – TradingFloor
'Over-Banked': ECB
Tests Set to Reveal German System Flaws – Spiegel
The ECB's upcoming review of the euro zone's largest banks could expose
weaknesses in the German banking sector. It may also reveal Germany's political
role in limiting the scope and efficacy of the Continent's nascent banking
union.
ECB Bond Figures
Paint Picture of a Happier Euro Zone – WSJ
Spanish and Italian banks have been offloading their government bonds in
recent months, cashing in on increased demand from buyers amid signs of some
stability in the euro-zone’s most problematic members.
EUROPEAN
CENTRAL BANK
Euro area: loans to
households slowly increasing – Danske
Bank
Mario Draghi's
Zombie-Infested Nightmare Just Got Worse... In Two Charts – ZH
Draghi on the edge of deflation – FT
The Credit Suisse
European economics team are growing concerned about Mario Draghi’s disinflation
problem:
Europe’s other debt crisis – The
Economist
Debtors’ prison – The
Economist
It’s not just sovereign
borrowing – there are too many zombie firms and over-indebted households
MACRO NUMBERS
Ifo Business Climate Edges Upwards – CESifo
Does GDP Really Measure the UK’s Economic Growth? – WSJ
6 essential charts to explain the UK GDP figures – FT
U.K. Economy Grows at
Strongest Pace in Three Years on Services – BB
UNITED STATES
MACRO NUMBERS
U.S. durable goods orders, sentiment suggest politics hurting economy – Reuters
September Durable Goods Orders: Another Mixed Bag – dshort
Michigan Consumer Sentiment:
Lowest Level Since December 2012 – dshort
Consumer Confidence Plunges To Lowest In 2013 – ZH
Final October Consumer Sentiment declines to 73.2 – Calculated
Risk
U.S. consumer
sentiment slides in October on government shutdown – Reuters