It’s the clause that makes German officials’ faces look like they’re struggling to keep their lunches down when someone mentions the prospect of write-downs on Greece’s official loans. The no bailouts clause! Article 125 of the EU Treaty: Read more
With a h/t to All Things D, here’s Mike Lynch’s open letter to HP: Read more
Our colleague Barney Jopson has an FT e-book out today that expands on his earlier series of articles about Amazon. Click through to buy it:
If increased proportions of older workers are squeezing out some of the younger would-be workers there could be a significant downside in the longer term — ironically, due to the ageing population. Read more
Live markets commentary from FT.com
Eurozone ministers agreed a Greek aid deal || OECD slashes 2013 growth forecast || Lehman Brothers has agreed to sell Archstone || Intrade no longer accept bets from U.S. residents || HP sued over Autonomy takeover || GMO abandons bond market || Buffett thinks Dimon would make a good Treasury secretary || ResCap creditors target cash from Ally asset sales || Olam International said it will continue to raise debt to fund expansion || South Africa’s economy grew at the slowest pace since a recession in 2009 || Fed’s Fisher says unemployment in U.S. is main worry || Markets cautiously up Read more
Canada’s central bank governer Mark Carney may have played hard to get with British chancellor George Osborne, but Ozzy was up for the challenge. Doubt this man’s resolve at your peril. Read more
Carson Block has faced some criticism in the past couple of days (such as from the FT’s Lex) for the week-long delay in releasing the promised Muddy Waters’ report on Singapore-based Olam International.
But the wait is over. The report was published on Monday night. Block has not skimped on his allegations, so have a new ink cartridge ready if you’re planning on printing out all 133 pages. Read more
Greek deal reached by eurozone ministers || Asian markets rise || Argentine bondholders seek stay of judgment || Shareholder sues HP over Autonomy || Buffett thinks Dimon could be a good Treasury secretary || How the UK persuaded Mark Carney Read more
The IMF’s desired target of a 120 per cent debt-to-GDP ratio by 2020 has been replaced by 124 per cent by the same date — thanks in large part to official creditors taking a lower interest rate on repayments from the original bailout. A lot also seems to hinge on the Greek debt ‘buyback boondoggle’, which is now well and truly on the table. Read more
Stay, actually. An emergency motion for a stay on Judge Griesa’s sweeping order in the Argentine bond holdouts case — filed on Monday night by the Exchange Bondholder Group:
1Bird, plane, Abe
2The US collateral shortage lives on
3Alphachat: Lee Buchheit edition, featuring Lee Buchheit
4The (early) Lunch Wrap
5Re-setting ENRC (updated)
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