9th Feb - Greece, HSBC leaks, Greenspan on €

Previously on MoreLiver’s:

W/E: Linkfest

Random charts

W/E: Weekly Support

Friday: Monstrously good payroll data

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EUROPE

Europe Fractures – ZH

France Pivots To Putin, Cyprus Offers Moscow Military Base, Germany-US Splinter On Ukraine

The four unions "PIE" on the Monetary Union "CHERRY" – ECB

-a new index of European Institutional Integration

Comparisons and contrasts of the impact of the crisis on euro area labour markets – ECB

FX: 5 reasons DKK peg won't go – Nordea

Ukraine's impending debt restructuring – Sober Look

German-French Push Yields Ukraine Summit Plan With Putin – BB

SNB Reduces Holdings in Apple, Exxon, J&J, SEC Filing Shows – BB

  GREENSPAN ON EURO

[audio] Greenspan: I believe Greece will eventually leave the Eurozone – BBC

Greece: Greenspan predicts exit from euro inevitable – BBC

Greenspan Sees Greek Exit From Euro as Just a Matter of Time – BB

Get ready for Greece to leave euro, says Greenspan – The Telegraph

Alan Greenspan says Greece will have to leave eurozone – The Guardian

  GREECE

Greece is Playing to Lose – Project Syndicate

Whatever form the surrender takes, Greece will not be the only loser. Proponents of democracy and economic expansion have missed their best chance to outmaneuver Germany and end the self-destructive austerity that Germany has imposed on Europe.

Münchau: All Grexit needs is a few more disastrous weeks like this – FT

Crunch Time as Greece’s Terrible Deadlines Loom – Wolf Street

Little space for compromise between Athens and eurozone – BBC

Greece: The Tie That Doesn’t Bind – Krugman / NYT

A debt-for-equity swap, or just something for something else? – Tony Yates

Tsipras Risks Overlooking Greece’s Lack of Access to Markets – WSJ

Greece: The Tie That Doesn’t Bind – Krugman / NYT

Geostrategic Implications of a Grexit – Marc to Market

Argentina’s Lessons for Greece – Project Syndicate

Why Syriza might be up to tackling corruption in Greece – Europp / LSE

Greek PM Tsipras sets up another EU clash, refuses bailout extension – Reuters

No extension to Greek bailout, says Tsipras – FT

Tsipras Rejects EU Ultimatum, Demands Bridge Deal – ZH

Greece's Tsipras defiant over economic plans – BBC

Tsipras Says Greece Seeks Bridge Accord Until June – BB

Greek finance minister says euro will collapse if Greece exits – Reuters

Greek FinMin Warns "Euro Will Collapse If Greece Exits", Says Italy Is Next – ZH

Varoufakis Warns "Cloud Of Fear Becoming Worse Than Former Soviet Union" – ZH

U.K. Is Readying Contingency Plans for Possible Greek Eurozone Exit – WSJ

UK Begins Preparations For Grexit – ZH

UK planning for possible Greece exit from the eurozone – BBC

Washington urges eurozone leaders to compromise with Athens – FT

U.S. urges euro zone leaders to compromise with Athens – Reuters

Euro Working Group President Wieser to visit Athens on Monday – Reuters

Juncker tells Greek PM: don't assume euro zone will accept your plans – Reuters

EU Urges Tsipras to Rein In His Ambitions for Rollback – BB

Varoufakis “ECB Lost Control Of Monetary Policy”, Germany " No Way Out" – ZH

Greek Bank Bonds & Stocks Crumble To Record Lows – ZH

UBS:  "A Market Dislocation Necessary”, “Stop Underestimating Grexit Risks" – ZH

  EUROPEAN CENTRAL BANK

Improvements in the euro area credit conditions should not be ignored – Sober Look

The ECB has learnt nothing from Japan's lost decade – The Telegraph

Quantitative easing on its own will not save the eurozone – it must start more aggressive policy and price-level targeting, says Scott Sumner

UNITED STATES

Only raise US rates when whites of inflation’s eyes are visible – FT

Lawrence Summers: Aborting recovery and risking a further slowing of price rises is potentially catastrophic

ASIA

China's trade performance slumped in January, with exports falling 3.3 percent from year-ago levels while imports tumbled 19.9 percent, far worse than analysts had expected and highlighting deepening weakness in the Chinese economy.

China's imports slump, capping dismal January trade performance – Reuters

China's imports drop 20% explaining PBoC action – Sober Look

China’s policy dilemma deepens on record trade surplus – FT

REGULARS

Daily Central Banks – WSJ

Hilsenrath’s Take: The Fed’s Republican Tries Talking Republicans Out of “Audit the Fed” * Fed’s Rate Dilemma: Job Gains vs. Low Inflation * Jobs Data Boosts Odds the Fed Could Lose Patience in March * Fed’s Plosser Says It’s Getting Hard to Justify Not Raising Rates * Fed’s Lockhart Eyes June or Later Rate Rise

Daily Macro – WSJ

Another day, another Greek drama * Evidence that China’s competitiveness is suffering from a strengthening dollar - temptation to restore growth through an aggressive devaluation - irrespective of what spillover effects it might have on world financial stability.

Danske Daily – Danske Bank

Eye-Opener – Nordea

Getting harder for the Fed to stay on hold * Rates jump – beginning of the end? * FX market pricing in super-soft Riksbank

Challenging Monday – Marc to Market

Daily Shot: 'China watchers' wrong again – TradingFloor

The newest data out of China show exports dropping fast and imports dropping even faster. The question of Chinese demand, of course, has global ramifications across markets, sectors and asset classes. Meanwhile, Denmark is struggling to maintain its currency peg and Canadian housing data are looking very frothy.

US Open – ZH

Europe, US Risk Off After Greece Rejects European Ultimatum, Ukraine Peace Talks Falter

FX Update: USD resurgence looks for confirmation this week– TradingFloor

Friday's US jobs report – as good as it gets * Jobs report sets the scene for USD comeback * Greek government remains defiant on debt

From the floor – TradingFloor

Massive NFP print puts dollar rally firmly "back on track", says Hardy * A break of key resistance at 119.25 could propel USDJPY towards "125" * Poor China trading data scuppers AUD * Pressure on EUR mounts as Greece, Ukraine crisis weigh * One-month EURUSD at 12.5% in Asia trading, despite "illiquid" market 

OTHER

Eight Points on the Investment Climate and the Dollar – Marc to Market

Central Banks Move to Drive Down Currencies, Yielding Domino Effect – WSJ

Interest-Rate Cuts, Asset Purchases Ricochet Through Foreign-Exchange Markets; ‘Unspoken Currency War Has Broken Out’

Currency wars and central bank credibility – FT

If everyone is playing the same game, all we will end up with is more and higher FX volatility.

  HSBC LEAKS

The private-banking unit of HSBC Holdings Plc made significant profits for years handling secret accounts for an array of criminals, from drug cartels and arms dealers to tax evaders and fugitive diamond merchants

HSBC files show how Swiss bank helped clients dodge taxes and hide millions – The Guardian

Leaked HSBC List Shows Who Was Banking on Swiss Secrecy – BB

Explore the Swiss Leaks Data – ICIJ

HSBC admits Swiss bank failings over client taxes – Reuters

FINNISH

Aamukatsaus – Nordea

Katseet Kreikassa ja euroaleen BKT-luvuissa | Perjantaina julkistetut työmarkkinaluvut lisäävät painetta Fedille | Kiinan vienti oli ennakoitua heikompaa

Vuoto: Suurpankin asiakkaina rikollisia laidasta laitaan – MOT / YLE

  KREIKKA

Alan Greenspan: eurolla ei tulevaisuutta ilman poliittista liittoa – PS

USA:n keskuspankin ex-pääjohtaja: euroalue tuhoon tuomittu – Juhani Huopainen

Suomen laskennallinen tappio Kreikan tukilainoista 2,5 miljardia – PS

Euroopan totuuden hetki lähestyy – Henri Myllyniemi / US

Kestääkö euro Syrizan politiikan? – Antti Ronkainen

Kreikka: tilaisuus terveemmälle kriisipolitiikalle euroalueella – Peter Nyberg

EKP:n elvyttävä rahapolitiikka sopii Suomelle – Suomen Pankki

Rahapolitiikka ei ratkaise rakenteellisia ongelmia mutta kasvua tukevana se sopii Suomen taloustilanteeseen

Valtapoliitikot hiipuivat hissuttelijoiksi – HS

Vaalikevät alkoi suurten puolueiden hissuttelulla, Unto Hämäläinen kirjoittaa