Morning Call: pick of the papers

The ten must-read comment pieces from this morning's papers.

1. Don't panic, Lib Dems. All this manure just makes us grow stronger (Guardian)

We will learn from the Rennard case, says Paddy Ashdown. And whatever happens at Eastleigh we will emerge united and fighting behind Nick Clegg.

2. There is no magic alternative to Trident – Britain has got to keep it (Daily Telegraph)

We must have the ability to deter the threat posed by nuclear weapons, argue John Hutton and George Robertson.

3. The Eastleigh byelection: the lessons for Labour (Guardian)

Do southern voters know what one nation Labour is meant to be about, asks Patrick Diamond. More policy grit would be welcome.

4. Together the prudent can beat the profligate (Times) (£)

Eastleigh’s lesson is that no party can win on its own, writes Philip Collins. But the coalition could see off Labour’s deficit deniers.

5. Bankers' bonuses: Europe right, Britain wrong (Guardian)

The prime minister is still confusing the interests of the City with those of the nation, says a Guardian editorial.

6. A cap on bank bonuses will not solve anything (Independent)

Elsewhere, the Independent argues that plans to limit pay deals smack more of vengeance than of competent policy-making.

7. Osborne should take inspiration from Sweden to save the economy (Daily Telegraph)

Britain is stuck, so the Chancellor should take a lesson in tax reform from a Nordic hero, writes Fraser Nelson.

8. A not-so-secret sterling devaluation ploy (Financial Times)

The antics of a rating agency are a sideshow to the adventures of the pound, writes Samuel Brittan.

9. It's high time this lot were downgraded (Daily Mail)

A group of expert economists hopelessly blind to the financial crisis, roll merrily along holding the fate of nations in their grasp, writes Martin Samuel.

10. Wary Obama cannot shut out the world (Financial Times)

A risk-averse White House neglects the obligations of a global superpower, says Philip Stephens.