Iran to receive a fresh bail-out deal

After fevered all-night talks, sleep-deprived negotiators have proudly announced that Iran will be getting a fresh bail-out deal. President Obama has finally managed to achieve his Iran nuclear deal, which will now move to Congress for what will likely be a furious debate. The prospects of access to a previously offlimits emerging market of 77 million people is tantalizing for exporters in a demand-starved world; yet other countries in the Middle East are not preparing new trade missions, but rather appear to be girding their loins for battle; and oil prices actually rose yesterday rather than falling, suggesting a deal had already been priced in (no surprise given the constant flow of leaks from them: one would hope the new nuclear inspection regime is more water-tight).