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Poll: Does Europe Need a Rescue Plan?

US lawmakers are preparing to vote on the biggest bailout ever, while the crisis of confidence has spread to Europe, knocking down banks one by one. Do you think European banks need a rescue plan? Vote in the poll below and click here to send your comments.

Readers' views:

Coordinated Action

The banking system needs coordinated action - not seen since pre-euro days. The centerpiece of any bailout is not the dollar amount but it is the mechanism that forces banks to sell bad assets, i.e. exclude these assets from capital requirements thus forcing them to be sold and replaced by good assets.

Larry Hautau, Stamford, CT

No to Pure Speculation

Free markets are fine, if their actors act responsible. This crisis shows that they are not. The same bankers who call for obligations and securities and behave and feel like god in a financial world turn out to be only poor gamers, who didn't understand the poker rules. Europe will be affected as well from the international financial crisis sent out from the US but your question should be: why didn't the US act proactively like Europe where, especially in Germany, regulations are in place, that restrict speculative transactions in the financial sector. The plans on the table look like a promotion for those creatures who sold the world that were experts and now when they failed, the taxpayer has to pay the bill. In addition to a strong regulation that prohibits all kinds of pure speculation in anything (money, natural resources, goods etc.) if not necessary to reduce risk for trade transactions (to be verified) people and institutions who breach should be made accountable and punished accordingly.

Joachim Moeller, Bergheim, Germany

Banks

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  • BNP Paribas CEO: Greece has limited impact

    Jean-Laurent Bonnafe, CEO of BNP Paribas, says the euro zone is now a very different place in terms of risk to Greece and describes the tumble in global markets as a "normal reaction."