The European economic crisis has been endlessly aggravating, and Greece is no longer able to sustain itself financially. Two major economic leaders of Europe, Germany and France declared that they are very near to recapitalizing banks.

In spite of this hopeful and confident statement, neither is sure as to exactly what they need to do to actually put this into action. This major announcement occurred on the same day that the governments of France, Belgium and Luxemburg, nationalized Dexia, the biggest bank in Belgium. This bank was the first to be victimized by the European crisis.

The impact is massive, as major banks in Europe are also put under pressure. From a foreigner’s perspective, this is interesting and worrying. The global effect will be unavoidable and Germany and France’s confident yet somewhat bold statement may be disappointing and unreliable.

European people are beginning to look themselves from an outsiders’ view and are slowly changing their customer habits, spending less, and trusting banks less. It will be interesting to see how Germany and France act to support their words, and enhance the crisis.