Are we on the cusp of a second banking crisis?

Paul Mason reports here on fears of a second banking crisis - closely tied to the sovereign debt crisis. “Across the European banking system there is too much unfinished business” - there is much to be done to cleanse the system of bad assets and recapitalize the banks? Given the scale of public sector debt and the lack of room for further bail outs - are some banks too big to save? Will banks have to agree a hair-cut on their existing loans? Is a bank tax needed to create a new bail out fund?

This radio 4 Today programme discussion between George Magnus and Robert Peston is also worth a listen: Eurozone crisis ‘has ensnared’ governments