This is what you don’t want to do amid a market panic: Muse aloud that it is really important for the G7 to act this weekend to save the world, especially if you are Chancellor of the British Exchequer. But that’s what Alistair Darling just did. Raising expectations in this environment is both dangerous and stupid.
Elsewhere, Germany daily Die Welt reports that the German government is considering making double-digit EUR capital injections into their banks.