Europe: Time is running out

[Javaman]

http://money.cnn.com/2011/10/14/news/international/europe_debt_crisis_challenges/index.htm?iid=HP_LN

Over the weekend, finance ministers from the world's largest economies pledged their commitment to take "all necessary actions" to stabilize markets and keep banks well capitalized.

Analysts continue to warn that there are significant political and logistical challenges to overcome before the 12-year old currency union can move past its debt woes.

>snip<

But early Monday, German Finance Minister Wolfgang Schaeuble tempered expectations, saying that a final solution to Europe's debt crisis is unlikely to come out of the upcoming meeting.

>snip<

Greece, Ireland and Portugal stand behind €30 billion of the fund's resources. Those guarantees are probably worthless and cannot be counted as part of the €440 billion, notes Carl Weinberg, chief economist at High Frequency Economics.

More at link...