The document discusses reasons to be concerned about prospects for a European bailout in three areas:
1) A Standard & Poor's downgrade of the European Financial Stability Facility bailout fund due to concerns about its funding and governance.
2) A U.S. government audit found the Federal Reserve had secretly loaned over $16 trillion to bail out banks and businesses globally during the financial crisis, indicating more government support was provided than previously known.
3) The OECD said the European bailout funds needed to be increased to at least 1 trillion Euros to restore market confidence and a series of reforms were needed to boost economic growth in Europe.