Nice comment under the article:
The entire economic regime is kaput, not just a few banks here and there, (not just a few countries here and there).
The lesson of the now is you cannot waste your way to prosperity. The only winners are a handful of monopolists and landfill operators. Everyone is stuck with the massively expanding costs.
The central banks cannot do anything real other than recycle defunct loans. The question is how long before depositors recognize the ongoing Ponzi futility and the banking system itself is abandoned?
The only sure way to ameliorate the current crisis is to implement stringent energy/resource conservation starting at once. For instance, fuel use would be cut in half in one year by any means necessary. More cuts would follow.
The constant drain of hard currency overseas for fuel and other resources -- at no domestic gain -- is the reason for Europe's distress, Europe becomes more vulnerable every year, less credit-worthy and able to raise less funds on loan markets. The world's single biggest business -- driving the hundreds of millions of cars -- generates minuscule organic returns. Both the cars and the fuel must be debt-subsidized. The fuel/material waste process is by itself the 'collateral' for the debts taken on. Here is bankruptcy on its face.
Folks willfully ignore conservation because industrial stakeholders would lose in a conservation regime. Unfortunately, business as usual will result in the same stakeholders losing everything ... along with everyone else.
There is no escaping the consequences of our own greed and ability to delude ourselves. The economic problem is at the end of your driveway: act and plan accordingly.