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Morning Call: pick of the papers

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

1. US elections: no matter who you vote for, money always wins (Guardian)

Dollars play a decisive role in US politics, says Gary Younge. And more so since the supreme court allowed unlimited campaign contributions.

2. Fiscal treaty could trigger a debt explosion (Financial Times)

If Spain follows Greece and ignores what happened in Japan, a lengthy recession is likely, warns Wolfgang Munchau.

3. Why are deficit-cutters so afraid to talk about tax? (Guardian)

Reducing public spending is not the only way of balancing the budget, but taxation seems to be taboo for politicians, writes Mehdi Hasan.

4. It's too late for other Europeans to be as efficient as Germans (Daily Telegraph)

The euro prevents the differences in currency strengths that once evened things out, argues Boris Johnson.

5. The talent that lies beyond the 'brightest and best' (Independent)

Tell me if there's been any period since the 16th century when there was no hue and cry about "floods" of immigrants, writes Yasmin Alibhai-Brown.

6. Retreat from your battle against gay marriage (Times) (£)

The Archbishop of York would limit same-sex couples to 'faithful friendships', writes Libby Purves. But these are strong, serious bonds.

7. The mirage of Obama's defence cuts (Financial Times)

America in particular knows that national strength is built on economic foundations, writes Edward Luce.

8. What kind of people have we become? (Daily Telegraph)

Churchill would be dismayed by modern Britain's capitulation to jackboot egalitarians, says Jeff Randall.

9. Not helping to sell the Olympics (Independent)

Once the medals have been collected the cost/benefit analysis will come back into focus, says an Independent leader.

10. The answer to the Met's problems isn't to let meddlers run it (Daily Mail)

It is not elected commissioners that we need but a restoration of our lost ethic of policing, argues Melanie Phillips.