If they act collectively, euro-area governments can still stanch the bleeding.

First, the decision by central banks to act collectively should bolster confidence that they are alert to the seriousness of the situation, and intent on tackling it.

This causes them to act collectively, transcending their own personality differences.

These laws were originally enacted principally to insure to groups of farmers the right to act collectively without violating state antitrust statutes.

If the central bankers had acted collectively on analyses from their research department, the great economic fall would have taken a different course.