Watch this space, but I think that within a relatively short period the European Union will claim back the right to set accounting standards for itself, in the public interest, to ensure effective regulation.

FORBES: Have They Pushed the Self Destruct Button at the International Financial Reporting Standard Foundation?

Cuts to pensions and public-sector wages, accounting for two-thirds of government spending after interest payments, will stir up resentment.

ECONOMIST: The euro and Greece: Postcard from the edge | The