This week, global economy mavens are waiting once again for European leaders to emerge with a panacea. Tradition dictates that financial panaceas should be presented on Sunday evenings, before Asian markets open. The Europeans actually scheduled their panacea accordingly, but whiffed. The cure-all was rescheduled for Wednesday.
There has been much gnashing of teeth and rolling of eyes over eurozone leaders' repeated inability to solve their financial crisis once and for all. U.S. Treasury Secretary Tim Geithner traveled to Poland last month and told a gathering of European finance ministers to Just Do It. Oddly enough, the gathered Europeans did not really appreciate the admonishment.
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