There are disturbing signs this morning that Germany is being dragged into the Europe's worsening debt crisis.
The economic powerhouse has failed to convince some global investors that unlike other parts of the Eurozone, German government debt is a safe enough bet.
Today's auction of ten year German bonds left risk takers cold and since has been described as "disastrous" after 35 percent was left unsold.
The fear factor relating to all things European means that even quality German debt now has a guilt by association with struggling economies like Portugal, Italy, Ireland, Greece, Spain - the much feared PIIGS.
Not surprisingly, Investors are acting first and asking questions later. Right now, it's looking like much later.
And one big albeit distance question is whether the PIIGS acronym might soon be joined by another "g".Here's my take from this morning's edition of "AM".
Read my piece on The Drum and debate Europe continues to provoke.