A broad consensus is now forming in Europe that we will need to move fast and introduce some form of asset relief to complement the measures already in place. Many countries are now looking seriously at the options on the table. Some are considering the possibility of setting up a 'bad bank' to absorb the impaired assets, others an insurance scheme.

In other words, Yurp is toying with the same stupid ideas -- bad bank, ringfencing, yaddayaddayadda -- that we're toying with.

Be nice to America. Or we'll bring democracy to your country.