雅思阅读材料：Banks Exposures

　　It is more convincing to tackle the root of the problem. The EFSF should be put to better use than tossing more money at the banks. Governments should instead eliminate the risk that such a need could ever arise. In other words, they have to quash the probability of sovereign default in the euro zone, neutralise the "Greek factor" and make sure that all other countries—which face liquidity problems but are not insolvent—will honour their debt. Besides meaningful consolidation and reform efforts, that requires an efficient crisis management mechanism to stop contagion. In that respect, the most promising idea is to allow the EFSF, and then its permanent successor the ESM, to function as a bond insurer. Only then, will investors’ distrust towards banks be lifted.

　　The bottom line: after Lehman, governments around the world did a terrific job in supporting banks, leading to an astonishingly quick recovery of the banking world (also in terms of profits and bonuses). This time around, the ineffective efforts to resolve the euro crisis let the banks down. Now, they have to bear the brunt. But a larger scale banking crisis can still be avoided. All that is required? Decisive action by policymakers to finally curb the sovereign debt crisis.