So many billions poured into such a war-blasted economy raise the spectre of inflation.

ECONOMIST: How to get ahead in Bremer's Iraq

Further delays in implementing key reforms raise the spectre of more bouts of market turmoil next year.

CNN: Eurozone still has mountain to climb

Such a default would raise the spectre of default by other over-indebted eurozone governments, which in turn would undermine the perceived solvency of some very big banks.

BBC: The price of Greek democracy