Fotis Kouvelis, the Democratic Left leader, still insists that Greece will ask its European partners for an extra two years to implement the new austerity package.

ECONOMIST: The Greek bail-out

As I've written before, this has the ability, on any given day, to provoke a drain of liquidity from the Greek banking system, forcing the Bank of Greece to ask for levels of Emergency Liquidity Assistance that the ECB just cannot countenance.

BBC: Euro talks: The last signal before the storm?

Prime Minister George Papandreou said over the weekend that Greece might be forced to ask for an extension to the time before it has to start repaying aid money.

BBC: Greece's budget deficit worsens

The markets ask what they are going to do with Greece and there is no convincing answer.

BBC: The Greek conundrum

Ms Davidson said Scotland had to ask itself whether it wanted to become like Greece, "borrowing and spending vast sums of other people's money in the hope and expectation of never being called to account", or like Germany, where "saving is a virtue and debt is shameful".

BBC: Scots Tory leader Ruth Davidson makes economy call