October 10, 2008

Europe's central banks still playing catch-up in meltdown

At the end of Europe's worst financial week in decades, after repeated and failed attempts to halt the tailspin of global markets and restore trust in economic leaders, some European economists are throwing up their hands in frustration. "What to do to restore confidence is something you should perhaps ask a psychologist," Jean-Christophe Caffet, an analyst at France's Natixis Bank, said Friday. "The key driver here is confidence, and . . . we don't have a way to bring confidence."

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