Till default do us part

摘要

Penny-Pinching lovers can always turn to Las Vegas, where wedding-chapel packages start at just a couple of hundred dollars (wedding music included, rose bouquets extra) and annulments are fast and cheap. The architects of the euro zone's banking union are planning something similarly cut-price. Almost a year ago, as the euro crisis raged, Europe's leaders boldly pledged a union to break the dangerous link between indebted governments and ailing banking systems, where the troubles of one threatened to pull down the other. Yet the agreement that seems likely to emerge from a summit later this month will be one that does little to weaken this vicious link. If anything it may increase risks to stability instead of reducing them.