Where next after May's month of mayhem? Rob Davies column

It seems that the European authorities are powerless to restore confidence to the financial markets, and the prospect of a double-dip recession is looming closer.

Rob Davies, editor, Credit magazine

Earlier in the year, whenever I asked investors and bankers if they thought a double-dip recession was a possibility as the Greece crisis emerged, it was surprising how many dismissed the idea.

Perhaps after last year’s dramatic reversal of fortune in the credit markets, and the way in which corporate earnings had rebounded, they had good grounds to be optimistic.

However, if the 2007–2009 crisis (and plenty of crises throughout history) proved anything, it was that a seemingly isolated and

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