How many more times can eurozone visit 'last chance saloon'?

`` The markets will have looked at Thursday night's statement, seen the obvious gaps and may well launch a new assault on Spanish and Italian debt next week to test the resolve of this new regime. But nothing new is actually in place to stop the rot. We saw it in 1992 when sterling was forced out of the European exchange rate mechanism. Governments can draw as many lines as they like but without the necessary resource, and the legitimacy of statute, those lines will prove no more effective than a line of pine trees in an avalanche. ''