BANKS' woes have stolen the headlines this week. But the real reason to worry about Europe is that policymakers are still flailing in their efforts to come up with a big plan, fast, to get to grips with the region's debt crisis. From how to deal with Greece to how to build a firewall around solvent but illiquid countries such as Italy, Europe's progress is hampered by the usual mixture of public bickering and behind-the-scenes brinkmanship.
The biggest confusion is over Greece, where European politicians are sowing short-term uncertainty by holding off on the disbursement of the next €8 billion ($10.7 billion) tranche of its first rescue package while jangling nerves with (another) public debate about whether the country needs a bigger debt restructuring. After initially promising to decide on October 3rd whether Athens would get its cash, European finance ministers this week put off a decision until November.
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