Joke / not true:
In a stunning victory
for the small country, the finance minister of Finland Mrs. Jutta Urpilainen has been named as the
new head of the Eurogroup.
Many commentators
believe that the choice will work in favor of the federalists ahead of the
all-important European Parliament election in 2015, as she is head of the
Social Democratic Party of Finland (pro people), a woman (always helps) and
comes from a neutral creditor country officially opposing federalisation, but
in reality agreeing with everything Germany decides to throw at it.
Under Urpilainen's
term, the fiscal situation of the Republic of Finland has deteriorated
hand-in-hand with the euro crisis, while simultaneously the balance sheet items
related to rescue measures and thus the nation's liabilities have increased
more than after the WWII or during the financial crisis of the early nineties.
With that track
record, the euro and the European Union will surely become the success stories
they are often said to be.
Oh yes, just updated the
Cyprus post:
Previously on
MoreLiver’s:
Special: Bailout of Cyprus (updated)
Roundups &
Commentary
Frontrunning – ZH
Overnight: "It's All Cypriot To Me" – ZH
The Lunch Wrap – alphaville
/ FT
Emerging N.Y. headlines – beyondbrics
/ FT
Daily press summary – Open Europe
Morning MarketBeat: He said what? – WSJ
Morphing Crisis – Marc to Market
Morning Briefing
(EU/US): Déjà vu - again – BNY
Mellon
In
bailing out Cyprus, the
EU has made all too familiar mistakes
EUROPE
The drama over Cyprus has made clear that the euro-zone crisis is
developing into a struggle over German hegemony in Europe. On the surface, Merkel and Schäuble seem to
be working to stabilize the economy. In actuality, they're binding other
nations with the shackles of debt.
DIJSSELBLOEM AFFAIR
Be careful what you wish for – Nordea
The EU appears to have
fast-tracked its plans for bank resolution in earnest, at least based on the
comments from the Eurogroup President Dijsselbloem. Such plans are another blow
for the funding outlook of banks, and risk escalating the euro crisis again.
Beware Dutchman bearing statements – TradingFloor
Ken Veksler: The
EURUSD was sent into a tailspin yesterday as the new head of the Euro group
proceeded to tell the market that the handling of the Cypriot situation would
serve as a template for the rest of Europe should
things go down that path.
You want contagion…I’ll show you contagion… – Open
Europe
Cyprus - To
Template, Or Not To Template –
ZH
The FT/Reuters Dijsselbloem interview
transcript – Brussels
blog / FT
Dijsselbloem Says Euro Troubled Lenders Must
Fend for Themselves – BB
Cyprus to shape future euro bank rescues:
Eurogroup head – Reuters
Let the guessing game continue: The Eurogroup's
mixed messages on capital controls – Open
Europe
PIIGS
Migration trends
within the Euro Area and the impact these have on trend GDP growth and
structural budget deficits in the various member countries. This is an
important issue indeed, since such movements seem to be an unforeseen and
largely unmeasured by-product of the current monetary and fiscal policy mix
being pursued by the EU and the ECB, yet the consequences they have shape the
long term future of the whole Eurozone, and with it the sustainability or
otherwise of the component states.
Italian Election Fallout Q&A (Continued) – WSJ
A grand coalition with Silvio is hard to
swallow for Bersani, but... – Open
Europe
UNITED STATES
DURABLE GOODS
Nondefense Cap Orders
Ex-Aircraft Tumble In February – ZH
Robust transportation
demand buoys orders for durable goods – Reuters
There is stress in the Stress
Indicators – TradingFloor
Steen Jakobsen: The
stress indicators are showing early signs of concern, but overall this needs to
be confirmed. It seems the bail-in by depositors could have been the catalyst
for risk off.
Huge potential calendar effects for FX this
week and next – TradingFloor
John J Hardy: We’re
going into the end of month and end of quarter, as well as the end of the
Japanese financial year – all ahead of an extended Easter holiday weekend for Europe and a critical Bank of Japan meeting next
week.
BRICS Nations Plan New Bank to Bypass World
Bank, IMF – BB
The debt run – Buttonwood
/ The Economist
In short, we are
nearly six years into this crisis and we have made precious little progress in
running down debts and thus are vulnerable to further crises; Cyprus is just the latest example. Nor have we decided
whether default or inflation is the preferred option. Either way, savers should
beware.
IN FINNISH
Vähittäiskaupan pikaennakko: myynti laski
helmik. 0,8% vuodentakaisesta – Tilastokeskus
Konkurssien määrä edellisvuoden tasolla tammi –
helmik. 2013 – Tilastokeskus
Helmik. työttömyysaste 8,7% – Tilastokeskus