1. Panic has become all too rational  (Financial Times)
If those with good credit refuse to support those under pressure, when the latter cannot save themselves, the system will surely perish, writes Martin Wolf.
2. Simmering anger in Seville  (BBC News)
Paul Mason reports from Seville on the human cost of the Spanish crisis
3. Markets against markets  (Stumbling and Mumbling)
Was the crisis a function of too few markets? Probably not.
4. Michael Geismar’s blackjack strategy  (Reuters)
When mathematician and blackjack expert Jonathan Adler saw Felix Salmon's post about hedge fund manager Michael Geismar’s antics at the Vegas blackjack tables, he offered to explain just how silly Geismar was being.
5. Prepare for “no austerity without growth”  (Left Foot Forward)
Cormac Hollingsworth lays out the Tsipras agenda for the eurocrisis