Are markets too sanguine about contagion from Greece?
Eurozone officials have spent the last four years building a financial buffer big enough to cope with a Greek exit.
Prices are tumbling, right across the eurozone. But for consumers from Amsterdam to Athens, this is not a bumper Christmas sell-off: the falling cost of their weekly shop reflects a deep economic malaise.
Put yourself in the shoes of Jens Weidmann, president of the German Bundesbank and chief critic of a policy of quantitative easing (QE) for the eurozone.
George Osborne was drawn into a confrontation with Britain’s leading tax and spending experts after the Institute for Fiscal Studies said he had a duty to spell out his deficit reduction plans and warned of cuts on a “colossal” scale.
The eurozone economy stumbled in November, according to a closely watched survey which has raised fears that falling demand from Russia and China will plunge the currency area into renewed recession in the new year.
Imposing curbs on in-work benefits for EU migrants would be discriminatory and would fail to deter migrants from coming to Britain, the Polish ambassador to the UK has said.
It says something about the diminished expectations that the reaction to the latest growth figures for Germany and France was one of relief.
The European Central Bank is ready to pump up to €1tn (£782bn) of fresh stimulus into the flagging eurozone economy to ward off a dangerous deflationary spiral, Mario Draghi has signalled.
Eurozone inflation edged slightly higher in October but economists warned it would provide little relief for policymakers attempting to ward off deflation in the single currency bloc.