The two separate notes, distributed to members of the “euro working group” – senior national finance ministry officials who have been doing all the spadework on the Greek programme – make pretty clear eurozone officials are suddenly finding themselves worried about the whole deal collapsing because of all the moving parts that need to be tied down for a successful restructuring to be completed.

This is like the slow-speed Bronco chase...It could end in bloody crescendo or with a whimper. It’s looking more like it could end in a bloodbath by the day…