Psychology plays a role

The business paper Világgazdaság writes: "There is no talk whatsoever of setting up a 'European fund'. Instead, the target of 130 billion euros represents the sum of the measures being taken in all the individual member states to counter the crisis. ... What is striking about this is the fine balance between the possibilities and instruments the community has at its disposal and those the individual EU members have at theirs. ... As we are all aware, the weak point in the EU's economic policy is that plans that are worked out on an EU level can ultimately only be implemented on a national level - with varying results. The current package reflects another attempt by the EU Commission to make the most of its restricted room for manoeuvre. ... But psychology also plays a role: The goal here is to somehow reverse the negative spiral in which the global economy is caught today. And it sometimes takes sensational announcements to achieve this."

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