HVB, even if it plugs its property hole it still lacks a coherent strategy and brand: new leadership could bring new vitality.

ECONOMIST: European banks

But it would also blow a large hole in Mr Blair's European strategy.

ECONOMIST: Britain, out of harmony again

But the way Mr Osborne sees it, the coalition's strategy in 2010 was based on the idea that the hole in Britain's public finances would not fix itself, and could fatally damage the country's standing in world markets, if left to fester.

BBC: The triple A versus the triple dip