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Such loopholes aren't legally watertight; neither clause was ever intended to fast-track large bailouts.
Remember, from the 1930s until the 1980s the United States managed to avoid large bailouts of financial institutions.
China's big banks have already required three large bailouts in the last seven years, and the question now is whether they will require another.
Such an austerity program is the "conditionality" that the E.C.B. had to assert would exist in order to justify the large bailouts they are promising.
The report served as a stark reminder that the banking system remained in perilous health, despite large bailouts of major financial institutions.
Mr. Zhou and other Chinese officials have warned that the borrowers in many of the new loans may also default, making worse a banking problem that has already required three large bailouts in the last six years.
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offer a large bailout for Spain.
The government is vulnerable to foreign countries' demands because it needs a large bailout for its central bank, which is battling dwindling foreign currency reserves.
At the same time, the Senate seems unlikely to be able to put together the votes for a truly large bailout.
At the Fed, which oversees the nation's largest banks, Mr. Geithner worked with the Treasury Department on a large bailout fund for the banks and led efforts to shore up the American International Group, the giant insurer.
Announcing a large bailout fund was viewed as crucial to putting an end to speculation over the fate of the currency union prompted by the huge indebtedness of Greece and financial crises in Ireland and Portugal.
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