It is good to see that Crédit Agricole and Crédit Lyonnais have finally come up with a new name for their combined corporate and investment banking business: Calyon, which is less of a mouthful than Crédit Agricole Indosuez/ Crédit Lyonnais.

While the two banks seem to have avoided the expense and silliness of coming up with a completely new name, they could have checked their grammar. In pronunciation, if not in written form, Calyon sounds remarkably like "calions", which effectively means "we were stalling" or "we were stuck". Nothing we hope that can't be unblocked by a few thousand redundancies?