The irony is that for the authorities to step in just demonstrates how bad the situation really is. An admission and capitulation by them to try and shore up an ever worsening situation.
The markets may have have taken some heart from this exercise but IMHO people should look beyond this act of desperation.
This is but a short term fix for a long term systemic problem.
Once the gloss and hype wears off then it may get even uglier.
