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Morning Call: pick of the papers

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

1. This is no recovery, this is a bubble – and it will burst (Guardian)

With policymakers unwilling to introduce tough regulation, we're heading for trouble, says Ha-Joon Chang. 

2. A battle over Ukraine can be avoided (Financial Times)

To stop the country being torn apart its fate must be decided by the Ukrainian people, writes Gideon Rachman. 

3. Mrs Merkel can’t give Cameron what he needs (Times)

Germany’s Chancellor lacks the political freedom to agree the kind of renegotiation Tory Eurosceptics hunger for, says Rachel Sylvester.

4. Why are Eurosceptics still so gloomy? (Independent)

Those who insisted Britain must not join the euro have achieved all that they wanted, writes Steve Richards.

5.  David Cameron’s election gamble could electrify British politics (Daily Telegraph)

A "no deals" promise would be a rallying cry to the right, says Benedict Brogan. 

6. Dear Rebecca Adlington, they're the ugly ones (Guardian)

This is my message to the best British swimmer of her generation, writes Laurie Penny. If you've had a "nose shrink", it's OK. I've got your back.

7. Cameron must not dampen this Eurosceptic momentum (Guardian)

 If Alternative für Deutschland wants to join the Tories in Europe, it should be allowed to, no matter what Merkel thinks, says Paul Goodman. 

8. We misjudge Merkel’s vim for EU reform (Financial Times)

The real error is to overrate her capacity to deliver change, even if she wanted it, says Janan Ganesh. 

9. Salmond has to answer some serious questions (Daily Telegraph)

Scotland's First Minister is uncomfortable confronting certain policy areas, but they need to be addressed, says a Telegraph editorial. 

10. Piers Morgan did gun control more harm than good (Times)

In the US, weapons co-exist with a peacefulness that puts Britain to shame, says Justin Webb. 

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Is anyone prepared to solve the NHS funding crisis?

As long as the political taboo on raising taxes endures, the service will be in financial peril. 

It has long been clear that the NHS is in financial ill-health. But today's figures, conveniently delayed until after the Conservative conference, are still stunningly bad. The service ran a deficit of £930m between April and June (greater than the £820m recorded for the whole of the 2014/15 financial year) and is on course for a shortfall of at least £2bn this year - its worst position for a generation. 

Though often described as having been shielded from austerity, owing to its ring-fenced budget, the NHS is enduring the toughest spending settlement in its history. Since 1950, health spending has grown at an average annual rate of 4 per cent, but over the last parliament it rose by just 0.5 per cent. An ageing population, rising treatment costs and the social care crisis all mean that the NHS has to run merely to stand still. The Tories have pledged to provide £10bn more for the service but this still leaves £20bn of efficiency savings required. 

Speculation is now turning to whether George Osborne will provide an emergency injection of funds in the Autumn Statement on 25 November. But the long-term question is whether anyone is prepared to offer a sustainable solution to the crisis. Health experts argue that only a rise in general taxation (income tax, VAT, national insurance), patient charges or a hypothecated "health tax" will secure the future of a universal, high-quality service. But the political taboo against increasing taxes on all but the richest means no politician has ventured into this territory. Shadow health secretary Heidi Alexander has today called for the government to "find money urgently to get through the coming winter months". But the bigger question is whether, under Jeremy Corbyn, Labour is prepared to go beyond sticking-plaster solutions. 

George Eaton is political editor of the New Statesman.