The level of opacity in the G7 statement from Friday leaves each country to carry on just as it had previously. The US has yet to figure out how or when to inject cash into banks, keeping uncertainty high, nor did it guarantee bank liabilities, a move that would have freed up interbank credit and hopefully credit further down the food chain. Unless the EU comes up with a robust plan on Sunday, share prices could extend their dive Monday.
The Scotsman sums up this feeling concisely here.
