So here are ten questions for the Jeremy Warners of the world:

1. Do you really think Greece can avoid a sovereign default, given the maths of its falling economic output and rapidly rising debt repayments?
2. How do you think the German electorate will react to the call for a bailout of Spain? (And attached to this – do you think the vast majority of European credit managers are mad and wrong?)
3. Do you believe the Cameron/Hague/Osborne triumvirate will simply fall into line on pre-agreed national budgets and supporting a eurozone of which the UK is not a member?
4. What do you imagine the international response will be when Indian exports level off and people catch on to the reality that the national debt there has risen by half to 76% of gdp?
5. Now that the US can neither financially or politically afford more QE, how do you think it will get out of the worst set of economic figures for nearly 70 years?
6. With Russia doubling its bond sales month on month, and having its other debts fixed with worthless property collateral, in the light of the recent harvest failures, what would you see as the way out of the hole for them?
7. Given that RBS owns much of the worthless Russian debt paper, and last fiscal it made 0.2% of the money it has to pay back by mid 2012, where is the income going to come from for them and Lloyds….with interest rates at 0%?
8. What does the US do when China stops buying its debt securities?* Who will it borrow from?
9. Given that the German Constitution forbids QE beyond a basic level, and Germany represents over 90% of all EU trade surplus, how will stimulation be funded in the eurozone – after a trillion or more euros have already been spent on bailouts?
10. Now that China’s banking bad debt has been revealed, money supply there has been tightened, and most of the country’s export markets are either in – or about to go into – recession, where will its growth come from….and how will it cope with a reversal of fortunes?

Answer ALL the questions. ‘Don’t know’ is NOT an acceptable answer. Candidates answering ‘This could not happen’ will be marked down.