Research by Christiane Nickel and Isabel Vansteenkiste of the European Central Bank found that rising budget deficits in high-debt countries are associated with higher private savings.
The European Competition Commission, led by state-aid-busting "Nickel" Neelie Kroes, would not comment on the recent bailouts by the Fed of American International Group, Fannie Mae and Freddie Mac, and any future ones that may come around for Wall Street firms.