By Bagehot
AS promised/threatened earlier, a quick update on the joint press conference in Berlin between David Cameron and Angela Merkel. According to wire reports from Berlin (Bagehot is in London today), the two leaders agreed to disagree on a financial transactions tax (sometimes generically referred to as a Tobin Tax, though technically that is something slightly different) and dodged the question of whether ECB intervention is the only way to reassure the markets.