Wall Street Journal
March 13, 2011
European Central Bank President Jean-Claude Trichet came home from Friday's summit of euro-zone leaders in Brussels effectively empty-handed, as the leaders again refused to relieve his institution of the burden of keeping struggling banks and member states afloat.
Mr. Trichet had gone into a meeting that was billed as a halfway house to a more important summit on March 24-25 with two aims.
The first was a thorough reform of the way the euro zone is governed in the long term. The second was a major enhancement of the European Financial Stability Facility, the vehicle through which euro-zone members help other member states in financial trouble. He returned with virtually nothing to show on either front.
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