I gather market reactions are now, as a result, on the UK coming out of recession first (ie as I said, GB right and Merkel and Sarkosi wrong) and the Spaniards are still in trouble as their entire economy is geared to construction, which will not lift off until after a boom starts (axiomatic).

Some interesting asides -

The price of US backing for GB was our poodle status in colonial invasions - which France ahs bucked --oo-er.

Prince Philip still has an admirable sense of humour (the "can you tell them apart" gag).

Someone seriously needs to tell Michell Obama that you do not cuddle a reigning soverign - wars have started for less.

Mrs Piggy put a fine put-down on Berlusconi. Overdue...