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EUROPE
Schengen: going, going … gone – Politico
It is nonsense to assert that the death
of Schengen would toll the knell for the free movement of people in Europe.
Having to show your passport is hardly much of a barrier. The great magnet for
young Italians, French and Poles is London. It has never been part of Schengen
Gideon Rachman: Germany’s isolation within Europe is growing – FT
The Merkel years have seen Germany
emerge as the undisputed leader of the EU. But the combination of migration,
terrorism, Brexit and the euro also mean that Germany looks more isolated from
its European partners than for many years.
Finland’s Problem Isn’t the Euro – WSJ
Despite modest debt and a competitive
economy, the Nordic country is on course for a fourth year of recession, but
don’t blame the common currency
The impact of the euro on euro area GDP per capita – Bank
of Spain
We find that the euro did not bring the
expected jump to a permanent higher growth path. During the early years of the
monetary union, aggregate GDP per capita in the euro area rose slightly above
the path predicted by its counterfactual; but since the mid-2000s, these gains
have been completely eroded.
Hans-Werner Sinn: Can the Islamic State Unify Europe? – Project
Syndicate
If recent events have taught us
anything, it is that the biggest threats to the EU stem not from inadequate
fiscal risk-sharing, but from insufficient coordination on foreign-policy and
security challenges. That is why, instead of continuing to push for unbalanced
fiscal integration, the EU must pursue political union.
EUROPEAN CENTRAL BANK
Monetary developments in the euro area:
October 2015 – ECB
Euro zone bank lending “glacial” but
improving – Reuters
Euro area: strong rebound in bank credit
flows in October, with more to come – Pictet
ECB preview: The doves will get their
way – Nordea
Draghi, a Rabbit, the Euro and the Magic
Trick Traders Envision – BB
Any Euro Respite Before ECB Meeting,
U.S. Payrolls May Be Brief – BB
Euro Languishes Near Seven-Month Low on
Bets ECB to Add Stimulus – BB
Records Abound in European Bonds as ECB
Feeds Negative Yields – BB
Euro on shaky ground, stocks up on talk
of aggressive ECB easing – Reuters
Euro on the defensive as ECB easing bets
grow – Reuters
ECB Failure Ruins 'Short of a Lifetime' –
BB
OTHER
The declining velocity of end of year
predictions… and money
– FT
When bank balance sheets become scarce
commodities – FT
REGULARS
Morning MoneyBeat Asia – WSJ
U.S. Stocks Quiet Ahead of the
Holiday
Morning MoneyBeat Europe – WSJ
Markets Celebrate Thanksgiving with
Gains
Morning MoneyBeat US – WSJ
Danske Daily – Danske
Bank
Euro rates update – Nordea
Eye-Opener – Nordea
Broad EUR weakness as ECB easing
looms, quiet day ahead in the US * ECB considering two-tier deposit rate * SEK
as a trade of the year in 2016? * European bond yields drop on rumours on ECB
easing
Morning Markets – TF
Thanksgiving may have
come just in time for EURUSD which is battling hard to keep its head above
1.0600, but the dollar looks in fine fettle as it enters the extended holiday
weekend.
Daily FX Comment – Marc
Chandler
Table is Set, Dollar Consolidates
Daily Press Summary – Open
Europe
Hammond warns
restrictions on EU migrants’ access to benefits “non-negotiable” as UK
experiences highest recorded net immigration * Former Italian PM: EU
integration needs to allow for “different destinations” * Juncker: The euro
doesn’t make sense without Schengen * No future for Schengen without binding EU
refugee quotas says Merkel * European Commission’s lead negotiator hopeful UK
deal can be agreed by February * EU countries still arguing over scope of
financial transaction tax as December deadline draws closer * Reuters: ECB
considering broader bond purchases ahead of key December meeting * Norway
introduces tougher border controls
Brussels Playbook – Politico
Merkel offers help —
Turkeys and turkey
Asian markets were mixed
and mildly positive overnight but nervousness over the standoff between Russia
and Turkey after the downing this week of a Russian aircraft was reflected in a
sharp drop in the Turkish lira after Turkey's government released documents
which omitted the word "independent" from a description of the central
bank.
FINNISH
Suomen
asuntomarkkinakello tikittää vastapäivään * EKP:ssa suunnittellaan
talletuskoron uudistamista * Ruotsin elinkeinoelämän luottamus vahvaa * USA:ssa
markkinat ovat tänään kiitospäivän vuoksi kiinni
Raha ja Talous: IMF
paljastaa huterat oletukset Suomen taloudesta – Image
Rahaliiton viimeistelyn I vaihe 2015-2017 – Antti
Ronkainen
Vähittäiskaupan myynti lokak. -2,3% YoY- Tilastokeskus