Cometarios ajenos

En economistsview.typepad, Tim Duy ofrece este comentario:

...Europe continues to deteriorate, under the watch-full eye of vacationing leaders (cut them some slack, it's August, after-all):

The European sovereign -debt crisis placed new strains on the Continent's banks on Wednesday amid signs that some lenders are finding it harder and more expensive to fund themselves.

The cash crunch for some European Union banks underscores the challenges that central bankers and regulators face in preventing the bloc's economic and debt problems from seeping into the bank-funding markets.

The barometers that central banks and analysts use to monitor stress aren't showing extremely heightened levels. But certain gauges are flashing warning signals: Bank funding from the European Central Bank increased and European banks and corporations have had to turn to the currency markets for dollar funding, instead of borrowing from one another or selling debt.

Worse, hat tip Calculated Risk, via the New York Times they don't seem to have any sense of urgency:

Even more worrying is the fact that the European Financial Stability Fund, Europe’s so-called bazooka rescue fund that it endowed last month with the powers to recapitalize weak banks, will not be able to offer any such aid for at least two months.

According to a stability fund official, staff members there are working night and day to recast the entity, but do not expect to be finished until the end of August. At that point, it must be approved by the parliaments of the 17 countries that use the euro currency.

END OF AUGUST!?! PARLIAMENTS OF 17 COUNTRIES?!? These guys might actually be worse than our guys, and that is saying a lot if you have been watching Washington this past month.