24th Mar - Weekender: Europe & Markets

Note that Cyprus-related articles are collected in the Special. I haven't collected much of Econ & Off-Topic links - I know the posts are popular, but there are limits to my time.

Previously on MoreLiver’s:

Credit Guest: The Doubt in the Shadow

Weekender: Best of the Week

Weekender: Weekly Support

Special: Bailout of Cyprus

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ECB borrowing by country: Spain, Ireland improving

EUROPE

Brussels blog round-up for 16 – 22 March – Europp / LSE

Crisis in Cyprus, French on the decline, and Václav Klaus for the European Parliament?

Europe’s Cyprus blunder raises important questions about the nature of EU decision-making and crisis management – Europp / LSE

No matter the outcome, the crisis is likely to cause lasting damage to the trust of Eurozone households in the banking system, and to the EU’s plans for banking union.

Cyprus exposes eurozone’s lack of financial stability – The A-list / FT
Last summer it seemed that a new leaf had been turned. Mario Draghi, the European Central Bank president, pledged to do “whatever it takes” to stabilise the euro, and the fairly rapid agreement to establish a banking union seemed to be another positive step forward. But it now seems this dawn was false.

The scary politics of the euro zone – Wonkblog / WP

It is hard to be confident in a currency union that must fret over the decisions of Cyprus.

Charlemagne: Small island, big finger – The Economist

Cyprus’s rejection of a bail-out plan raises new doubts about the future of the euro

Euroscepticism in Germany: Silent no more – The Economist

German Economist Proposes "One Time" Cyprus-Like 15% Wealth Tax on Italians; Italy Proposes Easing Stability Pact; Is Italy the Next Cyprus? - Mish's

Delaying savings will only make problem worse: ECB's Praet – Reuters

Savings required to bring euro zone budgets under control cannot be put off for long, European Central Bank Executive Board member Peter Praet said in an interview in two Belgian newspapers.

German Ifo is low quality? – TradingFloor

Juhani Huopainen: Friday's Ifo index suggest that Germany is the only growth story in Europe. However, the sectoral numbers show that fickle export orders and unsustainable real estate boom are the sole drivers.

 “That would be potentially incendiary.” - Bundesbank

Interview with Jens Weidmann, President of the Deutsche Bundesbank – FOCUS, 18 March 2013

Wealth distribution in the eurozone – Bruegel

ECB

Mario Draghi’s Opiate of the Markets – Project Syndicate

The “outright monetary transactions” scheme announced by ECB President Mario Draghi last July has served as the proverbial “bazooka” – a gun so powerful that it does not need to be used to deter speculative attacks on the euro. In other words, Draghi’s bazooka has anesthetized markets, impairing their ability to assess risk.

Decisions taken by the Governing Council of the ECB – ECB

ECB announces changes to the use as collateral of certain uncovered government-guaranteed bank bonds – ECB

OTHER

When do we call it a solvency crisis? – mpettis

The Power of Austerity over Politicians – mainly macro

What We're Reading ~ Hedge Fund Links 3/22/13 – market folly

How do massive stock market rallies end? – TradingFloor

John J. Hardy: Now that I am convinced we’ve moved into totally unjustifiable extremes of complacency in risky assets, I am having a look at some historic stock market breaks and how they have unfolded. In that light, the current setup is rather ominous.

Throwback Threats – The Reformed Broker

Do you think the headlines and uncertainty of prior periods were any less daunting and nerve-wracking than those we face today? I'd like to take you back ten years, to a time not unlike this one - the Spring of 2003.

Why Kings of Galapagos are long equity under (mild) Mugabenomics – TradingFloor

IN FINNISH

Keskuspankkiirin painavat sanat – Henri Myllyniemi / US Puheenvuoro

Renki vai isäntä – EKP uhkailee jo jäsenmaita – Jan Hurri / TalSa

Euroalueen keskuspankki EKP on euromaiden raharenki – joka määräilee jäsenmaita yhä kovemmin isännän elkein. Kyprosta EKP uhkailee jo kuin jäsenmaiden hiillostaminen olisi vain yksi rahapolitiikan keino muiden joukossa. Ennen kovistelua EKP pahensi itsekin Kyproksen kriisiä.

Säästöjen moittijoilta katosi lähimuisti – Paavo Rautio / HS

Viime aikoina eri puolilla maailmaa on virinnyt keskustelua siitä, harjoitetaanko Euroopan velkakriisin hoidossa virheellistä talouspolitiikkaa vai ei.

Kirjoitti lehdessänsä outoja Paavo (ja Saska) – Pertti Haaparanta / Akateeminen talousblogi

Antieurosta ei pohjaa populismille Saksassa – TalSa

Uusi antieuropuolue "Vaihtoehto Saksalle" (Alternative für Deutschland) haluaa ratkaista eurokriisin paluulla markkaan ja muihin kansallisiin valuuttoihin

Vastuuttomat rakastavat EU:n yhteisvastuuta – Risto Pennanen / TalSa

Yhteisvastuuta vaativat EU:ssa eniten ne, jotka ovat siihen tähän mennessä vähiten osallistuneet.