Your correspondent would like to point you to three interesting links that summarize the current state of affairs in the eurobanking crisis:
1. Sunday’s column by the Financial Times’ Wofgang Münchau (registration required; it’s worth the effort) argues that a disorderly breakup of the euro could begin in as soon as ten days at the December 9 summit meeting of the members of the European Union. Oh noes! At issue is whether Ze Germans will accept (or even can accept, based on their own constitution) enormous implicit fiscal transfers to the profligate spendthrift nations of southern Europe through a “eurobond” mechanism: a bond issued by the European Central Bank, the proceeds of which would secure the ability of troubled national governments to continue rolling over their debts at sustainable interest rates.