Morning Call: pick of the papers

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

1. Savers across Europe will look on in horror at the Troika's raid on Cyprus (Guardian)

It's now become clear: the threat to European savers and banks isn't anti-austerity parties but the Troika, writes Michael Burke.

2. Western meddling in Syria will only fuel the Sunni insurgency (Independent)

British efforts to arm 'moderate' rebels reveal a lack of understanding of this complex civil war, writes Patrick Cockburn.

3. Leveson vote: no cause for hyperventilating (Guardian)

There is much less at stake than anyone might guess from some of the discourse, says a Guardian editorial. Royal charter plus is a reasonable solution.

4. Only a gutter press can keep clean the gutters of public life (Daily Telegraph)

Legislation to control newspapers threatens our global reputation for honest dealing, says Boris Johnson.

5. Europe cannot allow unfinished business to fester (Financial Times)

In economic policy what is good for one is not good for all, says Lawrence Summers.

6. The Arab world must act – or face disaster (Times) (£)

Unless the Gulf states stump up their share of aid, the refugee problem will fuel extremism across the region, says Tim Montgomerie.

7. If MPs seize the presses it is you who will lose out (Sun)

We will suffer more bureaucracy and undiscovered corruption in public life without a free press, says Trevor Kavanagh. 

8. If Iraq taught us anything, it's this... (Independent)

Only when four vital tests have been met should we intervene in another state's affairs, but we can always help other than with arms, says Nick Clegg.

9. Is George 'too toxic' to survive the storm? (Daily Mail)

Senior Tories say Wednesday’s Budget is his last throw of the dice  as Chancellor, writes Peter McKay.

10. Dangers lurk in US permanent campaign (Financial Times)

The journey from idealist to insider is now complete, writes Edward Luce.

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This is no time for a coup against a successful Labour leader

Don't blame Jeremy Corbyn for the Labour Party's crisis.

"The people who are sovereign in our party are the members," said John McDonnell this morning. As the coup against Jeremy Corbyn gains pace, the Shadow Chancellor has been talking a lot of sense. "It is time for people to come together to work in the interest of the country," he told Peston on Sunday, while emphasising that people will quickly lose trust in politics altogether if this internal squabbling continues. 

The Tory party is in complete disarray. Just days ago, the first Tory leader in 23 years to win a majority for his party was forced to resign from Government after just over a year in charge. We have some form of caretaker Government. Those who led the Brexit campaign now have no idea what to do. 

It is disappointing that a handful of Labour parliamentarians have decided to join in with the disintegration of British politics.

The Labour Party had the opportunity to keep its head while all about it lost theirs. It could have positioned itself as a credible alternative to a broken Government and a Tory party in chaos. Instead we have been left with a pathetic attempt to overturn the democratic will of the membership. 

But this has been coming for some time. In my opinion it has very little to do with the ramifications of the referendum result. Jeremy Corbyn was asked to do two things throughout the campaign: first, get Labour voters to side with Remain, and second, get young people to do the same.

Nearly seven in ten Labour supporters backed Remain. Young voters supported Remain by a 4:1 margin. This is about much more than an allegedly half-hearted referendum performance.

The Parliamentary Labour Party has failed to come to terms with Jeremy Corbyn’s emphatic victory. In September of last year he was elected with 59.5 per cent of the vote, some 170,000 ahead of his closest rival. It is a fact worth repeating. If another Labour leadership election were to be called I would expect Jeremy Corbyn to win by a similar margin.

In the recent local elections Jeremy managed to increase Labour’s share of the national vote on the 2015 general election. They said he would lose every by-election. He has won them emphatically. Time and time again Jeremy has exceeded expectation while also having to deal with an embittered wing within his own party.

This is no time for a leadership coup. I am dumbfounded by the attempt to remove Jeremy. The only thing that will come out of this attempted coup is another leadership election that Jeremy will win. Those opposed to him will then find themselves back at square one. Such moves only hurt Labour’s electoral chances. Labour could be offering an ambitious plan to the country concerning our current relationship with Europe, if opponents of Jeremy Corbyn hadn't decided to drop a nuke on the party.

This is a crisis Jeremy should take no responsibility for. The "bitterites" will try and they will fail. Corbyn may face a crisis of confidence. But it's the handful of rebel Labour MPs that have forced the party into a crisis of existence.

Liam Young is a commentator for the IndependentNew Statesman, Mirror and others.