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Weekly Brief | Tuesday, November 29

Prepare for riots in euro collapse, Foreign Office warns British embassies in the eurozone have been told to draw up plans to help British expats through the collapse of the single currency, amid new fears for Italy and Spain… ★ 325 via Telegraph Politics Eurozone Oh? ECD Today, the OECD warns that things are looking vewy, vewy bad: Decisive policies must be urgently put in place to stop the euro area sovereign debt crisis from spreading and to put weakening global activity back on track, says the OECD’s latest Economic Outlook… ★ 56 via NYTimes Death of a currency as eurogeddon approaches The defining moment was the fiasco over Wednesday's bund auction, reinforced on Thursday by the spectacle of German sovereign bond yields rising above those of the UK. If you are tempted to think this another vote of confidence by international investors in the UK, don't… ★ 110 via Telegraph Comment European, U.S. Stock Futures Rise as Euro-Area Policy Makers Boost Efforts European stocks surged, rebounding from their biggest selloff in two months, amid speculation policy makers are intensifying their efforts to contain the sovereign-debt crisis. Banks rose after draft guidelines showed Europe’s rescue fund may insure… ★ 27 via Bloomberg Should the Fed save Europe from disaster? The dam is breaking in Europe. Interbank lending has seized up. Much of the financial system is paralysed, setting off a credit crunch just as Euroland slides back into slump… ★ 28 via Telegraph Finance World Markets US Dollar Down On Profit-Taking Ahead Of Euro FinMin Summit US Dollar Retreats Overnight as Stocks Rise, Denting Safe-Haven Demand. S&P 500 Stock Index Futures Hint Risk Appetite Recovery Set to Continue. German Inflation, Euro Zone Money Supply Data Key for Deflation Clues. The US Dollar declined in overnight trade, down as much as 0.6 percent on average against its leading counterparts, as stocks rose in Asia and dented safe-haven demand for the benchmark currency… ★ 24 via The Street Threats seen to Dubai World unit $2.2 billion debt deal A potential $2.2 billion debt restructuring for Drydocks World, the shipbuilding arm of indebted Dubai World DBWLD.UL, is seen facing tough headwinds with the presence of hedge funds and a lack of government aid seen threatening an amicable deal… ★ 19 via Reuters Why Did The Fed Inject Banks With Record Amount Of ”Other“ Cash In The Past Week? Update: as some claim, the "other" reserve move may have been sourced to satisfy GSE demands. That would be ideal and would indicate that FR banks are transferring excess reserves to fund GSEs consistently (and would also provide some curious accounting dynamics in the Fed's balance sheet). However, there is one small glitch… ★ 33 via Zero Hedge S&P 500 Has Worst Thanksgiving Week Since ’32 Amid Europe Crisis U.S. stocks tumbled in the worst Thanksgiving-week loss for the Standard & Poor’s 500 Index since 1932 as concern grew that Europe’s debt crisis will spread and American policy makers failed to reach agreement on reducing the federal budget… ★ 31 via Bloomberg