And even with those countries in the emergency ward - like Greece and Portugal - how will they climb back to financial health whilst they are cutting spending in the midst of a recession?

BBC: Deadlock in the eurozone

First, it would change the widespread market perception that the Fed responds to asset prices asymmetrically, cutting interest rates if share prices fall sharply but never raising them when share prices climb.

ECONOMIST: Central banks, all a-quiver | The