German banks are at risk of continued asset deterioration as the crisis grows and the global economy slows, and they have limited-loss absorption capacity to face a stress scenario.

FORBES: German Banks Don't Have Enough Capital To Face A Severe Downturn, Moody's Says

However long it takes for the Muslim reaction to Pope Benedict's remarks to die down, the risk of a broad deterioration in relations between historically Christian and historically Muslim countries may have grown more serious.

ECONOMIST: Stirring up anger

It is important to mention that individuals that already have the flu who then become more ill during the duration of the illness, (difficulty breathing, or shortness of breath) need to seek medical attention immediately in an emergency department, as the risk of secondary pneumonia rises with an abrupt deterioration of your condition.

FORBES: 2013 Flu Season: How to Protect Yourself

"We are still certainly worried about the risk of contagion from a further deterioration in global financial conditions, " Mr. Singh told a briefing that was webcast to Asia.

WSJ: IMF Says Asia Has Room for Stimulus

There is also a planned deterioration of sovereign debt risk as compared to market prices in early May, the Committee said.

FORBES: European Stress Tests: Fantastic Fudge

The foregoing circumstances, the prolonged attacks, and the increased numbers of Libyans seeking refuge in other countries caused a deterioration in the security of Libya, posed a serious risk to its stability, and led me to declare a national emergency to deal with this threat to the national security and foreign policy of the United States.

WHITEHOUSE: The White House

An analyst at Lehman Brothers tells Forbes Global that RBS has the largest exposure to corporate risk in the U.K. and that everyone is carefully watching for signs of deterioration in the bank's credit quality, now that the previously strong U.K. economy worsens under the weight of rising taxes and a manufacturing meltdown.

FORBES: Businessman of the Year

However, in the absence of such a catalyst to reverse the current decline, the risk to the bullish case is the growing climate of fear feeding upon itself, and thereby creating a further deterioration in the technical backdrop.

FORBES: The Only Thing Stocks Have To Fear Is Fear Itself