MEPs are generally less sceptical about Europe than the party leadership and have been worriedabout the tone of remarks from their Westminster colleagues.
But there's another, more sympathetic explanation why European leaders seem lessworriedabout Europe's fiscal cliff than America's: they just don't see an alternative.
Western intelligence services are lessworriedabout the growing cost to global shipping than the possibility that the pirates may link up with, or turn into, Islamist terrorists.
Some will see that slower pace as a hint that members of the MPC think this bout of easing will be less powerful than in the past - or perhaps that they are worriedabout possible negative effects of continuing the policy for so long.