As it stands, Mr Geithner's Public-Private Investment Programme looks like an ungainly political and financial fudge and far from the market solution the government claims it is (see article).

ECONOMIST: Saving America's banks

Mr Davies also argued that the Programme for Government should include business rate relief plans to encourage private sector investment and employment.

BBC: Plaid Cymru debate

Worse, they say, there is too little emphasis on encouraging the sorts of private financial markets that would do more to spur investment in poor areas than any government programme.

ECONOMIST: America��s poorest places need investment