The euro crisis: Major powers plan new bank bailout

28 September 2011

With the major powers lurching back into recession, governments on both sides of the Atlantic are planning another huge bailout of the banks. There are significant differences over how such a bailout should be organised, but there is general agreement that hundreds of billions more in public funds must be allocated to cover the banks’ losses from a sovereign debt default by Greece. http://www.wsws.org/articles/2011/sep2011/pers-s28.shtml