Merkel and Hollande call for full-time euro President
One day after he rejected EU “dictates” on economic policy, French leader Francois Hollande and Germany’s Angela Merkel have called for the creation of a full-time euro “President.” …The paper says that “a full-time President for the Eurogroup of finance ministers relying on wider resources” should be created after the EU elections in 2014. 

No saviour in sight as world credit cycle rolls over
“We see building evidence of a cyclical downturn,” said Fredrik Nerbrand, HSBC’s global asset guru. “We find it highly troubling that the eurozone is still marred in a recession at the same time as our cyclical indicators appear to have peaked.”