Just a bank bailout not enough

The German-French plans for a bank bailout are insufficient, writes the liberal business paper Les Echos: "After 18 months of trial and error, the time of half-measures finally seems to belong to the past. At least the two driving forces of the EU are showing a political will. Nevertheless caution is called for. ... Merely introducing a plan for restructuring the banks does not mean the end of the crisis. On the contrary, it would be inefficient and costly because it would only provide a short breather. ... As long as the Greek insolvency continues and Italy's finances are not put in order long-term confidence cannot be restored in the Eurozone. Such a plan would also be costly because in choosing to bailout its banks as a first step, Europe would put itself at the mercy of the markets. ... The countdown has started. Europe has three weeks to find a recipe for success."

» full article (external link, French)
More from the press review on the subject » EU Policy, » Fiscal Policy, » Banks, » Germany, » France, » Europe
All available articles from » François Vidal

» To the complete press review of Monday, October 10, 2011