To avoid it just being a sticking plaster it would have to come with large amounts of fiscal transfer, as suggested on 21 July, in the form a quasi-Marshall Plan (since eurobonds are off the agenda due to the German court ruling).
Quasi-private mortgage financier Freddie Mac (nyse: FRE - news - people ) announced a hefty second-quarter loss Wednesday, stretching beyond even Wall Street's pessimistic expectations.