The disappointing forecast seems likely to raise fresh doubts about the strength of IT spending demand.

FORBES: NetApp Slides 20% On Weak July Quarter Guidance

But the second wave, in which Ireland was rescued and fresh doubts were raised about the size of the fund, has forced Mrs Merkel to shift.

ECONOMIST: Charlemagne

As for the prime minister, he may briefly have hoped that fresh doubts about Mr Brown's character would allow a serious rival to the chancellor to emerge.

ECONOMIST: Bagehot

The collapse of the financial sector could cost the country up to 18% of GDP while a shortage of credit will damage the rest of the economy, creating fresh losses for banks and raising doubts about debt sustainability even if a deal with the euro zone is agreed.

WSJ: Now We Are Seeing Politics in the Raw

Doubts would remain whether the Fed would announce fresh action at its next policy meeting later this month.

FORBES: Lackluster Job Growth Raises Likelihood Of Fed Action