Chris

It's worth the effort to seek out the stuff Ambrose Evans-Pritchard puts up on the Telegraph site, usually once or twice a week. Sometimes it's in the blogs section, sometimes it's in the finance news section. Wherever it is, it's always interesting and illuminating. The crisis certainly hasn't gone away. His contention is that the policies the Eurozone has followed have fatally damaged the project already. Like the Titanic, the damage is below the waterline and severe enough that the bosses in the first class lounge, still loudly insisting that it's unsinkable, are inevitably going to be proved wrong.

If Spain goes under, then that will be a disaster for the Euro. However the still larger danger is in Italy simply walking away from the single currency - which it could afford to do, in terms of both its economy and the rapid growth of public sympathy for such an idea. Silver Berlusconi hasn't gone very far away.