Look out below, says Diana Choyleva, director of Lombard Street Research in Hong Kong.

FORBES: China Equity Bulls Beware

Charles Dumas of Lombard Street Research is one who thinks that Greece would be better off defaulting AND leaving the Euro.

BBC: Greece: the default calculus

Economists at Lombard Street Research estimate that in order to meet its 1.5% deficit target, Italy needs to grow by 2.5% next year.

ECONOMIST: Italy��s economy

As Michael Taylor, of Lombard Street Research points out in a recent note, it was the consumer who disappointed the economic forecasters in 2011.

BBC: Reasons to be cheerful (part 1)

According to Diana Choyleva, of Lombard Street Research, unit labour costs in US industry fell by 2% in 2009 and another 2.8% in 2010.

BBC: Could the US economy go the way of Japan?

But there's more to this story - described in painful but fascinating detail by Brian Reading in a new report for Lombard Street Research.

BBC: Hard times for Mr Osborne

"Measures to ease credit conditions for SMEs would be more useful, and cause a stronger market reaction, " said Andrea Cicione, an economist at Lombard Street Research.

NPR: US Economic Concerns Weigh On Markets Ahead Of ECB

Earlier this year, Lombard Street Research estimated the U.K.'s total net debt excluding the financial sector at 237% of GDP, slightly higher than Japan's and nearly as high as Spain's.

WSJ: Alen Mattich: When Frugal Becomes the New Normal

Ms. Choyleva is a director at Lombard Street Research.

WSJ: Diana Choyleva: China Is Too Large for Its Own Good