Before I was 14, we lived in rural Herefordshire. I went to a ‘posh’ school and, so, had ‘posh’ friends. Among those friends were farmers’ sons and the like. One of the things that was a favourite pastime was going to the point-to-points. These are like horse racing but over fields rather than at a race track. There are no stands and no real facilities (obviously, basic toilets and stuff – but in tents rather than fixed toilet blocks).

I used to love it. Even it it was illegal (which I’m sure it must have been), as kids we would go to the bookies and make bets on each race.

It was fun. It made the race fun – obviously, you wanted your horse to win. It taught us about money, weighing up odds, the form, etc., etc.

It was a game and, like all betting games, although you wanted to win, it was the thrill of the race that was the thing.

Most of life is like this. Certainly, recently, it seems as if the whole world is like this. Will they win? Will they lose? How much money can they make from a single bet?

So, the ‘markets’ (which are, in reality no different from us kids betting on horses) want to win. So far, they have forced Greece towards an implosion. And, now, after weeks of pressure on Italy (from the markets in the main) they appear to have got what they wanted. Mr B has said he will step down.

I, for one, don’t believe it is the end of him. He’s a bit of a shyster and I’m sure he’s biding his time before he says something like ‘See where that got you all? Now you need me back’.

And the markets have reacted in quite a predictable way. Since there is (I would think) a LOT of money which has been bet on Italy being the next country that needs a bail out (since you can bet on anything now), unsurprisingly, the markets have reacted negatively to the news that Mr B will resign. One could ask ‘What do you want?’ – but, of course, what they want is to make more money. Didn’t someone say that money was the root of all evil. Of course, if I won a few million, I would be different

To be honest, with or without him, this was almost invariably going to happen but they have given him a bit of a boost given that before he announced his resignation, the bond yields were below 7% and now they are above 7%. See where it got us?

Everyone may think of him as a bit of a buffoon but there is no one who can easily take his place (either left or right) and, in truth, the markets like strong government, not weak. The politicians here have successfully ensured Italy’s slide to a bail out, in my opinion.

But, overall, it may not be a bad thing. Maybe this time, things will change? Maybe this betting on failure will be stopped, for one? Maybe Europe, as a whole, will default? Maybe we’ll get something better than the current system?

Oh, well, one can always hope.