Steps will probably have to include a deposit-guarantee scheme and fresh capital for private banks. Economists call for other stabilizing mechanisms that might require changes to the European Treaty. One is to set up a degree of fiscal union, allowing the zone to issue "eurobonds" or to make transfer payments by which some nations bail out others. Another would be to allow the European Central Bank to act as the "lender of last resort" to national governments.
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Why is Christian Science in our name?
Our name is about honesty. The Monitor is owned by The Christian Science Church, and we’ve always been transparent about that.
The Church publishes the Monitor because it sees good journalism as vital to progress in the world. Since 1908, we’ve aimed “to injure no man, but to bless all mankind,” as our founder, Mary Baker Eddy, put it.
Here, you’ll find award-winning journalism not driven by commercial influences – a news organization that takes seriously its mission to uplift the world by seeking solutions and finding reasons for credible hope.
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Recession in America? 10 questions assessing the threat.
Concerns about weak economies in Europe have already rattled global financial markets, and things are hardly rosy at home. Is America heading into a recession? Here are answers to 10 questions about that risk.
