Then the next phase is the acute phase, which develops 2-5 days later.

CNN: "The Secret Life of Germs" author Philip Tierno

Now, the sense among many investors is that the acute phase of the crisis is over and that the single currency area has turned a corner.

CNN: Eurozone still has mountain to climb

The financial markets are signaling that the acute phase of the euro-zone financial crisis may be over and the crisis may be shifting into a chronic phase or more precisely, a chronic phase with likely acute interludes in which panic escalates.

WSJ: Brussels Beat: Parallels With 1920s Raise Worries Over Extremism

But if such an increase in financial stress is not caused by the spanking of Cypriot bank creditors, perhaps that should be seen as evidence that the acute financial phase of the euro crisis is over.

BBC: Why Cyprus's rescue matters to us