There have been plenty of calls for a breakup of the Euro Zone but little action because of the perceived difficulty.

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Just to reiterate, we do -- first of all, I would say that there have been expressions of support from Congress for the concept of a no-fly zone, the concept of taking action in Libya.

WHITEHOUSE: Press Briefing

On Friday, Germany, the largest and most influential member of the euro zone, poured a degree of cold water on the hopes for more aggressive action by the ECB.

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Take the latest German-French missive, on December 7th: it speaks of euro-zone action on financial regulation, labour markets, a financial-transactions tax and the harmonisation of the corporate-tax base.

ECONOMIST: Charlemagne

What was the case in Libya is that all those conditions were in place that created an opportunity where international, outside military action to prevent the slaughter of civilians, to enforce a no-fly zone, was an option that the international community could take.

WHITEHOUSE: Press Briefing

The no-fly zone is a low-risk action with little ability to change the military reality that creates an impression of decisive action.

FORBES: How A Libyan No-Fly Zone Could Backfire

The recent ECB and BoJ policy statements have reduced the likelihood of a Euro-zone rate cut and has increased pressure on Governor Shirakawa at the BoJ to take further action.

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