European banking on borrowed time

Commentary feature on the possible consequences for European banks of the global credit squeeze. It says that 'With banks that have outgrown their home turf, national treasuries and regulators in Europe are living on borrowed time ... Given that solutions for the largest institutions can no longer be found at the national level it is apparent that the European Central Bank will need to be put in charge as it is the only institution that can issue unlimited amounts of a global reserve currency...'

ESO: Background information: Europe plays down chances of US-style help for banks http://www.europeansources.info/record/europe-plays-down-chances-of-us-style-help-for-banks/

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