An interesting solution to the increasingly fractious relationship between the US and the EU on trade emerged this week. US Treasury Secretary Larry Summers suggested the root of the problem lay in Europe's economic stagnation. Was he implying that a more bullish outlook in Europe would allow it adopt a more conciliatory tone to US demands for absolute transparency in world markets - except Cuba?

Apparently not. Mr Summers feels more robust momentum in Europe would enable the European Union to absorb more exports from struggling emerging market economies. Notably, stronger growth in Europe would also help ease the US trade deficit and thereby counter calls for protectionism there, according to the US argument. Aha, so better growth here would allow the US to overcome its own paranoia on trade . . . well that's the answer then, isn't it?