Elsewhere on Tuesday,

- Merollande? Hollankel? Merkande? OK, nothing’s going to sound as good as Merkozy, but it’s the start of something.

- David Rosenberg on the ‘perma-bear’ label and the three Ds.

- And the payoff of austerity is… (drumroll)… that bond markets still hate you.

- For Greece, the failure of austerity would mean even more austerity.

- Meanwhile, tourism is declining and vacant office space is soaring.

- Lead bookrunner blocks the website of the company its bringing to market. Guess who.

- Part 2: Guess which traders are the ‘rats in a grainery’?

- The Scream? You could buy several tankers for that money…

- What the Kremlin’s favourite oil trader has been up to.

- Why it would be illegal to make Paul’s Boutique now.

- The Sage speaketh.

- Further, further reading.

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