Our leaders are impotent: this crisis is one of democracy

Guardian - The solution is surely for governments to realise that if they are weak, the high priests of high finance are even weaker. The politicians should provide the help the banks need, but with the tightest of strings attached, regulating finance so closely that it can never again gorge itself the way [...]

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EU Finance Ministers May Increase Savings Guarantee

Spiegel - Finance ministers from the 27 European Union member states are meeting on Tuesday and will likely agree to increase the EU private savings guarantee. But the bloc still has no strategic vision for how to confront the crisis. And none is likely to be forthcoming.

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Bad, or worse

Economist - The rich world’s economies were either shrinking, or close to it, long before September. Recent weeks have made a rich-world recession all but inevitable. America’s economy lost steam throughout the summer. Temporarily buoyed by fiscal stimulus and strong exports, output grew at a solid 2.8% annualised rate between April and June. [...]

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