What once seemed a canny convergence play now looks like a barmy risk, for both the borrowers and the banks, chiefly Italian and Austrian, that lent to them.

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Institutional leaders will be those that harness a consumer triple play convergence (acquisition, retention, conversation) and cross-product, cross-channel orchestration.

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In a time of DVDs and dial-up, "convergence" in the space was focused on the ability for consoles to play back movies rented at Blockbuster.

ENGADGET

Being able to take a disc straight from a Sony camcorder or DVD recorder and play it in a PSP would be a powerful and practical convergence demonstration.

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They believe that if the eurozone signs up to debt limits, to budget discipline through automatic sanctions, to budgetary convergence etc then that could pave the way for the ECB "to play its full role", as the French finance minister said at the weekend.

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