Masterplan Fails to Calm Markets Europe's New Debt Mechanism Has Come too Late for Euro Crisis

Europe is celebrating its new masterplan to shore up the euro -- a debt rescheduling mechansim that forces private sector creditors to write down government debt in some cases. Analysts say the system is overdue but won't solve the current crisis.
An Irish euro coin. Which nation will be next to seek a bailout?

An Irish euro coin. Which nation will be next to seek a bailout?

Foto: Karl-Josef Hildenbrand/ dpa