Analysis: Euro zone action inches forward in game of chicken

PARIS (Reuters) – "After you." "No, after you." The euro zone is inching towards a new plan to tackle its debt crisis in a three-dimensional game of chicken among all the main players. The European Central Bank's heavily qualified offer last week to step in and buy bonds to bring down the borrowing costs of Spain and Italy was the latest gambit in this game. Each of the main protagonists – the central bank, the countries under pressure, EU paymaster Germany, and governments already under a bailout program – is angling for others to make the first move and carry the brunt of the cost. …

Analysis: Euro zone action inches forward in game of chicken PARIS (Reuters) – "After you." "No, after you." The euro zone is inching towards a new plan to tackle its debt crisis in a three-dimensional game of chicken among all the main players. The European Central Bank's heavily qualified offer last week to step in [...]