EUROPE
Bundesbank calls for capital levy to avert government bankruptcies – Reuters
Bundesbank's Stunner
To Broke Eurozone Nations – ZH
Germany's Bundesbank said
on Monday that countries about to go bankrupt should draw on the private wealth
of their citizens through a one-off capital levy before asking other states for
help.
Squaring the
Eurozone’s Vicious Circle – Project
Syndicate
Against this background, European policymakers and regulators must take
action to encourage banks to diversify their sovereign-debt holdings. Of
course, a common fiscal backstop (along with a single banking supervisor) would
eliminate the bias. But there is strong resistance to the fundamental changes
to the eurozone’s architecture that this would require. A more feasible
solution would be to introduce an explicit regulatory bias against home-country
sovereign-debt holdings.
A full transcript of
WSJ's interview with the head of the euro-zone bailout funds, Klaus Regling,
weighs in on Greece's debt, low inflation and the relationship between the euro area and
the IMF.
EU Mulls Faster
Pooling of Euro Bank-Resolution Fund’s Resources – BB
Euro Jobless Record
Not Whole Story as Italians Give Up – BB
Bloomberg survey
reveals serious labour and social crisis in Europe – New
Europe
While economists predict unemployment in December stayed at an all-time
high of 12.1 percent, with about 19 million jobless, that tally excludes
legions of adults who would also work if they could. Bloomberg calculations for
the third quarter show a wider total of 31.2 million people of all ages are
either looking for jobs, willing to do so though unavailable, or else have
given up.
Five minutes with
Nigel Farage – Europp
/ LSE
“The European Parliament elections may ultimately decide whether we get
a referendum on EU membership”
We see economic growth
in the order of 1.5% this year. Continuously strong private consumption and a
rise in investment in machinery and equipment for the first time in two years
are expected to lay the foundation for this solid performance.
EUROPEAN CENTRAL BANK
ECB poised for battle
to ward off deflation – FT
Draghi has signalled
that he would be prepared for the ECB to fight deflation in Europe by buying
packages of bank loans to households and companies.
Davos 2014: Eurozone
inflation 'way below target' – BBC
Lagarde: Despite signs of recovery across the world, potential risks
must not be ignored. Eurozone inflation, at 0.8%, remained "way
below" the 2% target set by the ECB.
ECB Confronted by
Banks Testing Exit, Threat to Recovery – BB
Rising market rates are posing a dilemma for ECB officials trying to
keep their ultra-expansive monetary policy in place.
ECB's Knot: No need
for action to bring down market rates – Reuters
The ECB is concerned about volatility in short-term interest rates, but
not ready to engage in any policy action to counter it, Governing Council
member Klaas Knot was quoted as saying.
Needed in Europe:
More Inflation – WSJ
Stagnant Prices Restrain Recovery in Weaker 'Peripheral' Countries Such
as Spain, Italy
MACRO NUMBERS
Strong Ifo reading increases German growth conundrum – Merkelnomics
German Ifo: Looking good, but open to EM threat – TradingFloor
UNITED STATES
FOMC Preview: More
Tapering – Calculated
Risk
Janet Yellen Inherits
‘Another Nice Mess’ – WSJ
Why the Worst May
Soon Be Over, in Two Charts – WSJ
Charting New Home Sales: Good and Bad in December Report – WSJ
New Home Prices: New Record for Average and Median in 2013 – Calculated
Risk
Existing Home Inventory up 1.8% year-over-year on Jan 27 – Calculated
Risk
ASIA
Japan Has Record Trade Deficit as Rising Fuel Bill Hurts Growth – BB
Japanese Bond Yields Tumble To 9-Month Lows As Asian CDS Surge – ZH
China Default-Swap Bets at 14-Month High on Trust Flops – BB
EMERGING MARKETS
5 Takeaways From the
Emerging Market Rout of 2014 – WSJ
Don’t blame the Fed * Not all emerging markets are the same * Expect
investors to discriminate * Countries that dither may need bailouts * The
contagion still could spread *
What Blows Up First?
Part 3: Subprime Countries – Safe
Haven
Emerging Market FX:
The Straw That Broke The Carry-Trade's Back – ZH
Emerging-Market VIX
Surges Most in Two Years on Selloff – BB
Where Last Week's
Selloff Pain Was Most Acute? – ZH
HSBC's Four Reasons
Why Current EM Jitters May Last – ZH
The Turkish Lira's
Surreal 1500 Pip, Six-Hour Roundtrip – ZH
Emerging Market
Volatility – The
Short Side of Long
Are the BRICS in
midlife crisis? – Nouriel
Roubin / Davos
It's like 1997 all
over again – Free
exchange / The Economist
Emerging-Market
Stocks Decline as Ruble Breaches Band – BB
BRICs under pressure – Sober Look
FINNISH
Eurostako hyötyä Suomelle? – Akateeminen talousblogi
Kauma:
Yritysten liikevaihdon alarajat tulee päivittää nykypäivään – Verkkouutiset
Orpo:
"Yhdenkään veron korottaminen ei ole voitto"
– Verkkouutiset
First
North -aloite keräsi laajan tuen eduskunnassa – Verkkouutiset
Kruunu ottaa omansa – viisi havaintoa
kiristyvästä verotuksesta – EVA
EVA: Verojen korotuskierre kurittaa Suomea – EK
EVA: Yli 5
mrd:n veronkorotuksista vain kolmannes "hyvää verotusta" – Verkkouutiset
Kuluttajien näkemykset yleisestä taloudesta
kohentuivat – Tilastokeskus
Kuluttajabarometri: Suomalaisten luottamus
talouteen kohentui – YLE
Luottamusindikaattorit kääntyivät laskuun – EK
Yritysten luottamus talouteen heikkeni – YLE