Whether the latest display of histrionics can achieve the same result remains to be seen, but the markets have already made up their minds. With the Bundestag spitting tacks, the Chancellor has been forced to call for more time to hammer out something credible. Whatever is eventually announced, it seems most unlikely to meet expectations. In the meantime, events are again moving beyond the power of policymakers to determine outcomes. Italian bond yields back at 6pc are a deeply ominous sign that the eurozone's third largest economy is reaching the point of no return, where markets essentially become too expensive for funding.