Telegraph report.

Julian Callow from Barclays Capital said the EU may to need to invoke emergency treaty powers under Article 122 to halt the contagion, issuing an EU guarantee for Greek debt. "If not contained, this could result in a 'Lehman-style' tsunami spreading across much of the EU."

Daniel Hannan in the Telegraph.

What if the first country to leave the euro were to be Germany? What if the stolid Teutons, fed up with rescuing others from the consequences of their profligacy, were simply to walk away and bequeath the legal carcass of EMU to the Mediterranean states?

Telegraph report.

Greek debt markets have come under fresh assault from hot money funds after a commission of experts in Athens told the country's parliament that it had uncovered €40bn (£35bn) of "hidden debts" during an investigation into past manipulation by the financial authorities.

From Culture Change: peak oil and other shortages.

Modern industrial society is based on a triad of hydrocarbons, metals, and electricity. The three are intricately connected; each is accessible only if the other two are present.

Guardian report.

George Papandreou faces mounting unrest as he tries to fix the €300bn debt problem

Guardian news article.

With Greek bonds again under ferocious pressure on the financial markets today, Papandreou said Athens was not expecting to be bailed out by the other 15 members of the single currency.