For the euro zone to find its way through this crisis, intervention in bond markets needs to be combined with a bolder overhaul of the system itself.

ECONOMIST: The euro: Tumbling towards the summit | The

With the nominal exchange rate held down by intervention, this could only come about through a rise in prices, creating expectations of future inflation and so reducing real interest rates.

ECONOMIST: The yen

This requires ownership of harvesting rights, partnership working, and can probably only be achieved through government intervention.

BBC: Casting a net far into the future