EUI think the markets are set to go through a very rough patch here as I believe the French bond market will be tested like Greece and Italy. The EU is at the moment unable or unwilling to use the only instrument big enough to quell this onslaught, the ECB. The Germans will not allow the ECB to be the lender of last resort when political instability is rampant in Greece. They will not allow the ECB to provide unlimited monetary support for Greece if there is a chance that Greece will choose to default in the near future. I think the ECB will be turned into the lender of last resort when Greece defaults. This is the best scenario at the moment. Truly pathetic really.