Tick tock

摘要

At least August was quiet. Thanks to Mario Draghi, chief of the European Central Bank (ecb), euro-zone policymakers got some badly needed r&r. His promise in July to "do whatever it takes" to protect the euro from speculation was enough to persuade traders to pack their bags and head for the Riviera. Yet the euro zone now looks woefully behind in its mission to save the single currency. That is partly because a rescue is genuinely complicated. But it is also because too many people think that time is on their side.