This time we must nationalise

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There are rumours - no more - that loans to ailing financial institutions are beginning again in Europe.

The Greek bailout is, by all reports, failing.

Markets are falling.

The underpinnings of the banking system are falling apart again.

Of course we can save the banks, again. We can print money. We will have to.

But this time let's get real. This time we don't lend them that money. Or give it to them as quantitative easing.

This time we nationalise.

This time we take control. This time we do so with the aim of cutting out the cancer. This time we do it for the long term. This time we don't take the crap: the bankers do. This time, surely, we get it right. And this time we change the management, for good.

Surely no one can disagree this time, can they?