Now no-one likes to see a failed state sulk.

Over the last week amid the flood of stories about suicide, assisted suicide, rapist this and paedophile that there is one tiny, insignificant economic story that the UK media somehow failed to report on.

In response to Britain's attempt to create a two-tier protectionist economy by seizing private banks and then offering 100% savings guarantees to the customers of those newly nationalised banks the Irish government went one step further and offered 100% savings guarantees to all customers of all it's private banks including those that operate within the UK.

As a result some £1.1trillion ($2.2trillion) of capital flowed out of the UK economy. Now the UK government has started to pout by calling an emergency meeting of EU leaders in the hope that they can get Ireland's decision ruled illegal for breaching competition rules and distorting the market place. I can only presume that Britain is doing this because they were operating under the impression that they were the only ones who were allowed to suspend European competition rules, offer 100% savings guarantees and distort the European financial markets in their favour.

It has been a very busy week and there is plenty more to come about the US economy, the US election, the UK economy, the UK cabinet reshuffle and the resignation of London Metropolitan police commissioner but with 105% of GDP wiped of the UK economy may I be the first to say;

"Oh dear children, that cure for cancer is starting to look mighty expensive."