It was a Friday but for Denmark it might as well have been Black Wednesday – that day in 1992 when sterling was forced out of the European exchange rate mechanism. After a speculative attack on the Danish krone on October 24, the country is now considering whether to adopt the euro.

Last week, Hungary received a €20bn ($25bn, £16bn) rescue package led by the International Monetary Fund and the European Union. The austerity conditions ensure that Hungary will all of a sudden fulfil the criteria for membership of economic and monetary union. I also hear that diplomats from Iceland made discreet inquires in Brussels about accession.