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Megacities Financial Times
The Greek revolt: Good news for Europe Charles Wyplosz, VoxEU
Greece to Form New Government Wall Street Journal
ECB’s Teutonic Mario chills bond rescue hopes Ambrose Evans-Pritchard.
Italy In the Cross Hairs Credit Writedowns. It’s only a matter of time before Unicredit blows up.
Moody’s downgrades Cyprus’s debt rating Financial Times
Moved your money Angry Bear. Those in power don’t seem to be learning from OWS: beating up on little people in public is backfiring.
Hermes to Build Two Leather Factories as Demand Outstrips Supply Bloomberg (hat tip Arthur). In case you had any doubts at to how the 1% was doing these days.
Focus on failure as US budget deadline looms Financial Times
Occupy Wall Street to March Against Foreclosure Fraud Settlement Dave Dayen, FireDogLake
Both ‘Occupy’ Marchers And Dem Politicians Rally Behind Taxing Wall Street Trades National Memo (hat tip MBH). I don’t have much faith in Dem support on this one.
Mike Bloomberg’s Marie Antoinette Moment Matt Taibbi
When offshoring backfires Xiaole Wu and Fuqiang Zhang, VoxEU
On those NFPs Bruce Krasting
Kamala Harris, California Attorney General, To Fannie And Freddie Head: ‘Step Aside’ Over Mortgage Crisis Huffington Post. This is not what it seems to mean. Geithner has been doing everything he can to get DeMarco out because he is not bank friendly enough. Any successor would be a complete toady.
To Fix Housing, See the Data Joe Nocera. A welcome, foursquare piece in favor of principal mods. The point he fails to mention, however, is the mortgage settlement deal is almost certain to produce only shallow mods.
Antidote du jour: