Why are triggers semi-deferred?

At least in 7.3, triggered actions specified as AFTER seem to be deferred
to the completion of the outer-most SQL statement. So, if two triggering
statements are executed as part of a PLPGSQL procedure, they will not be
executed until the outermost statement finishes.

As far as I can tell, this is not the way the spec says it should work:

The <triggered SQL statement> of a triggered action is
effectively executed either immediately before or immediately
after the trigger event, as determined by the specified
trigger action time.

In the case of statements executed sequentially inside a PLPGSQL procedure,
I would have expected that the trigger would fire after the first
triggering statement.

Have I missed a discussion of this (I have looked), or is this just a known
problem?

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