BBC News
August 4, 2011
Global stock markets slump on eurozone debt fears
The question lurking, with growing alarm, in the minds of Europe's politicians this week has been what on earth do they do now?
Market confidence is once again drying up, just as everyone is about to head off for the beach - and the half-measures agreed at last month's Summit are not even half-implemented.
The answer has come, again, today in the form of the European Central Bank, reluctantly filling the gap between a single European currency and its very un-singular politics.
It has restarted the bond purchasing scheme it began when the crisis got serious in May 2010, and has not activated since March.
The central bank has also restarted the full range of emergency lending for Europe's banks, whose share prices were hammered again on Thursday by doubts about the euro - and the global recovery.
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