EUROLAND: Merkel's Position Called "Moralistic Hysteria," Unsettles Markets.

BLOOMBERG/    German Chancellor Angela Merkel’s attempt to rein in speculators with a ban on naked short-selling is part of her proposals to gain control over “destructive” financial markets. But it is backfiring in debt and currency markets although the euro is up slightly from recent lows. Merkel's “... uncoordinated effort is counterproductive to the long-term survival of the euro,” says researcher Christopher Garman. “While it may temporarily alleviate what they see as the animal imagery of locus and wolfpack, or however else they describe speculators, it adds to a climate that’s becoming more uncertain by the day.” “Unless you have the U.K., United States and rest of Europe on board, then it’s a waste of time,” claims market analyst David Buik. “You’re asking people to look for trouble. It’s so ham fisted it’s laughable.”

BRASIL: Lula Gets Credit For Brokering Iran Nuclear Deal.

AP/ MIAMI HERALD/   The first reports are mixed after President Lula da Silva, aided by Turkey's PM, got Iran to agree to ship some enriched uranium to Turkey. "Clearly this is a huge political home run for Lula," said consultant Christopher Garman. "He has rounded up the end of his term in a big way: He used his personal political capital and is playing a role in the Middle East." While Washington called the plan a "positive step," Iran also said it would keep enriching uranium that could help it develop a nuclear weapon.