European debt and equity markets ended a tumultuous week with a rally on Friday.

One of the biggest threats to that is the general economic malaise, caused in no small part by the continued crisis with European sovereign debt.

Escalating concerns about European debt are once again dominating the headlines.

By grading European sovereign debt, have rating agencies done more harm than good?

Clearly, client (or customer) accounts were misused to try to cover the bet made on European sovereign debt.

Asia is the new safe haven, just as European sovereign debt was - ironically - in the original financial crisis.

Oh, please do buy European debt - lots of it.

In theory, such a scheme would reassure the international bond markets that buying European debts was, once more, sensible.

Although China is known to hold European debt, no comprehensive figures are available.

European debt was far too expensive during the boom and now it is normalising.