Can the euro payments system last the week?
September 29, 2008 at 19:59 PM EDT
[Skip to the end] Euro equities and banks are now under attack, and the ECB is effectively borrowing hundreds of billions USD from the Fed via swap lines. The eurozone deposit insurance is by the national governments, not the ECN, which are credit constrained. National government euro bonds have been supported by various CB/monetary authority allocations [...]