"We are innocent, we are victims, but I want to tell British consumers we are really sorry, we never sold them horsemeat deliberately, " Spanghero's sales director Christophe Giry told the BBC.

BBC: Horsemeat scandal: EU launches immediate wider tests

Mix one part Big Brother with one part Popstars then drizzle one part Pop Oil... sorry Pop Idol, mix for 13 weeks and cream the million singles that will be sold by each artist.

BBC: Fame Academy: Your views

What emerges is a sorry tale in which bankers defeated the best efforts of regulators by bundling bad loans into securities that were sold to a list of hapless (mainly European) investors.

ECONOMIST: Financial markets