I make no excuses for returning to the Greek tragedy, although I have very few for referring to Nick Clegg in my last post as "Nigel", apart from the transient and immemorable nature of many Lib Dem leaders and my proximity to pensionable age whenever that might be.

Less than a week ago 10 year Greek bond yields were approaching 8%. Since then they have flirted with 9% before closing on Friday at 8.6%. Even worse is the fact that short term bond yields have reached 11%. Such an inverted yield curve suggests that the day of reckoning is ever closer as investors demand a larger and larger premium for supplying Greece with cash flow let alone long term borrowing.

David Fuller's view Greek sovereign debt is not an isolated problem and the risk of yield contagion remains.