Can't wait for the next episode.

NOT a day goes by but there is another earth shattering news item on what lies in store for the European and Global economy.

The Irish seemed to kick it all off by announcing a 100% out-of-the-blue guarantee on bank deposits.

Hardly flavour of the month since the overwhelming NO to the Lisbon Treaty, they throw another spanner in the works with the bank deposit guarantee. That was a beauty.

Before President Sarkozy realised what he was doing he gave the Irish initiative the thumbs up and had Prime Misinister Fillon on the case for a similar proposal for France.

It was an ingenious plan. But Ireland, by nature never afraid to place a risky bet, are hoping that they're not called on it. If things go wrong and they have have to cough up it will cost the Irish taxpayer 315 billion euros.

Little did Mr.Sarkozy realise that the Irish guarantee gave birth to a two headed monster. Greece jumped in. Germany thought better of it and suggested that there should surely be one European-wide initiative to guarantee. They promised that there would be no unilateral decision around bank guarantees.

Britain lost the rag with Ireland as thousands of customers fled to deposit their money into the Irish banking system.

Then Germany did a U-turn after the collapse of its largest commercial lender, Hypo Real Estate, and made a similar guarantee. France was furious as large amounts of money begain to leave the French system.

Things ran amok for a few days. It must have been like herding cats.

It was very much a case of every man for himself in the European Uniion that Sarkozy is so adamant to make a Federation.

Could it be that Britain and Gordon Brown in particular were right all along about a single europe?

Mr. Brown seems to have taken the bull by the horns and can't seem to wipe the smile off his face as he asks other Europen heads of state to follow his lead in coming up with a definitive answer for the impending meltdown of the banks.

What impact a £400 billion rescue will make remains to be seen. What we do know id that the $700 billion Bush bail out was a bit of a damp squib.

Ten billion pounds were wiped off the UK stocks earlier in the week. One man, the BBC Eonomic Editior Robert Peston, was said to be solely responsible for the crash by leaking news of a worse than forecasted future for the Britiah economy from the IMF. He also broke news of a £500 billion bank bail out.

Oil and food prices are down. That should mean that we're moving in the right direction but still we're told to prepare for the worst. And that's the problem. Nothing is certain. Not least the banking sector. Let's wait and see what comes out of Paris tonight.