Central bank holds rates, warns on credit

The findings, drawn from a six-month review of public filings, paint a more complicated picture than the official communiqué suggested. Critics argue the proposal trades short-term political relief for a longer, more expensive reckoning down the line. On paper, the agreement looks routine. In practice, it sets a precedent that several other capitals will study closely.

The findings, drawn from a six-month review of public filings, paint a more complicated picture than the official communiqué suggested. Critics argue the proposal trades short-term political relief for a longer, more expensive reckoning down the line. On paper, the agreement looks routine. In practice, it sets a precedent that several other capitals will study closely. The committee's report, released without fanfare on a Friday afternoon, is more pointed than its tone suggests.

"The communiqué was the dullest of the year."