Central Banks Step In As The ECB Flounders On Fiscal Policy

By Edward Harrison: Yesterday I was on BBC World News talking about what I am provisionally calling the European Bank Bailout. The topics were the US dollar liquidity for European banks and the trading losses at UBS. It was interesting that the BBC put these two together, because I think they are inter-related. What I ended up saying on air was that the two bits of news highlighted three specific...