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I am with Krugman that this looks promising:
The Belgian finance minister, Didier Reynders, said, "We are committed in all European states to recapitalize banks if we establish a threat to solvency and a risk to the economy."

"The goal is to kick-start the interbank lending market," he said.

Mr. Reynders said the European Central Bank had also committed to helping to unfreeze the commercial paper market, which companies use to finance day-to-day operations.




A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Mon Oct 13th, 2008 at 10:23:47 AM EST
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Happy days are here again! ;)

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid (arvid.hallen at gmail.com) on Mon Oct 13th, 2008 at 10:52:55 AM EST
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