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2011-09-19

Certainly not

Not Jean-Claude Trichet, who German experts say is destroying the credibility of the European Central Bank by shoring up the bonds of countries and banks that can't otherwise attract funds at sustainable rates.

Not even International Monetary Fund head Christine Lagarde, who after a whirl at candor decided that Europe's banks are not in as bad shape as she originally claimed.

And certainly not the members of the euro-zone bureaucracy, who equate scheduling a meeting with solving a problem.



Irwin Stelzer, the director of economic policy studies at the Hudson Institute, Washington, WSJ  


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