EU’s tardy response

Too little, too late. It has been the story of Europe’s response to the unfolding financial crisis, and nothing changed late last week.

26th March, 2011

Too little, too late. It has been the story of Europe’s response to the unfolding financial crisis, and nothing changed late last week.

Distracted by the entirely predictable funding and political crisis which now makes a Portuguese bailout a certainty, the EU leaders yet again turned their eyes away from the problem; made some decisions which were useful, but not nearly sufficient; and crossed their fingers that it would all go away.

Unfortunately,...

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