Morning Call: pick of the papers

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

1. How to defuse the bonus bomb in one move (Times) (£)

Simon Wolfson argues that the riskier a bank's business, the less it should be allowed to pay staff. That's fair to shareholders, taxpayers and savers.

2. Don't put venture capital at risk (Financial Times)

John Gapper warns that the industry is on the same threshold that both banking and private equity crossed before, with unintended consequences.

3. The rule of law in Britain is diminished by the furore over efforts to deport Abu Qatada to Jordan (Daily Telegraph)

The British parliament has lost sight of the noble principles that Strasbourg has upheld, says Peter Oborne.

4. Call Strasbourg's bluff: send Qatada home (Times) (£)

Camilla Cavendish argues that Britain must stand up for itself as the European Court of Human Rights interferes in affairs well beyond its remit.

5. Angela Merkel needs all the help she can get (Guardian)

Few had anticipated the leadership dilemmas of a European Germany in a German Europe, says Timothy Garton Ash.

6. Run the NHS better or scrap it -- but give up reforming it (Independent)

"Patient choice" is largely a myth, says Steve Richards -- unless we pay for half-empty hospital wards.

7. Ignore the soporific jargon. Privatisation is a race to the bottom (Guardian)

The outsourcing of state services always leads to workers being paid less, says Zoe Williams. Instead our leaders call it an "efficiency saving".

8. US Presidential campaign: Never has the good news sounded so bad (Daily Telegraph)

Anne Applebaum says that the sudden growth of the US economy spells trouble for Democrats as well as Republicans.

9. Where Wukan has led, Beijing won't follow (Financial Times)

Village protesters in China will not unnerve the state, says David Pilling.

10. Sweetheart tax deals aren't for the little people (Independent)

Andreas Whittam Smith suggests that Harry Redknapp's problem was that he was a private individual and not a large company.

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Tony Blair won't endorse the Labour leader - Jeremy Corbyn's fans are celebrating

The thrice-elected Prime Minister is no fan of the new Labour leader. 

Labour heavyweights usually support each other - at least in public. But the former Prime Minister Tony Blair couldn't bring himself to do so when asked on Sky News.

He dodged the question of whether the current Labour leader was the best person to lead the country, instead urging voters not to give Theresa May a "blank cheque". 

If this seems shocking, it's worth remembering that Corbyn refused to say whether he would pick "Trotskyism or Blairism" during the Labour leadership campaign. Corbyn was after all behind the Stop the War Coalition, which opposed Blair's decision to join the invasion of Iraq. 

For some Corbyn supporters, it seems that there couldn't be a greater boon than the thrice-elected PM witholding his endorsement in a critical general election. 

Julia Rampen is the digital news editor of the New Statesman (previously editor of The Staggers, The New Statesman's online rolling politics blog). She has also been deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines. 

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