Last week saw some confidence return to markets on rumours of an imminent bailout for the beleaguered Spanish banking sector, and this weekend didn't disappoint. However, markets have started the week by rolling back on all their early large gains as bailout euphoria evaporated, leaving many waiting for the next stage of the European debt crisis – the Greek election due at the end of the week.

We've witnessed some calmer times for markets in recent days, but the euro still remains under pressure. It's been a quieter start to the week thanks to the US Memorial Day holiday but stock markets still seem to be making a tentative recovery, bolstered by polls showing that a pro-austerity result in the June Greek election is a possibility. Some cautious trading is likely in the days ahead of the week's main event, Friday's US non-farm payrolls.

Once again, Greece has been the focus of market attention during the past week after its election failed to deliver a government. Some are already speculating it is a case of when not if the country drops the euro – and this has meant weakness across many asset classes including the FTSE 100 and of course the euro itself. In addition a surprise $2 billion loss announcement from JP Morgan ensured that markets ended the week under pressure, making for another potentially nervous few days ahead.

Despite the backdrop of continued concern over the state of Spain's finances, stock markets have seen a steady, if modest, recovery this week. Closer to home, the high street has been in focus, with better-than-expected UK retail sales figures revealed - but some disappointment for Tesco and SuperGroup shareholders.

It's been another week of some pressure on stock markets, as the effects of US Federal Reserve chairman Ben Bernanke's speech faded quickly. Although the FTSE dropped sharply, so far it has continued to hold above the earlier March lows. There is plenty of economic data due out in the week ahead, with Friday the big one as the US unveils its latest unemployment numbers.

Stock markets have spent most of the week under pressure as concerns about China's growth slowing have weighed on sentiment. The UK Budget was broadly well-received by markets, with gilts the biggest mover, pushing down government borrowing costs. Next week has GDP revisions for the UK and US, so that could spark some more volatility.

Volatility returned to stock markets this week, with all-too-familiar concerns over Greece having many people trying to head for the exit at the same time. However, this has proved to be short-lived and another strong US jobs report has left sentiment upbeat heading into next week.

Initial early euphoria over the Greece deal has faded as the week has gone on, but stock markets are still clinging onto their overall positive bias. There has been plenty of volatility in other markets, with the pound getting buffeted on the Bank of England minutes and crude oil soaring to a nine-month high.

It's been another week dominated by the progress - or lack of it - on the Greek debt bailout, but hopes have built up once again that a deal is finally imminent. There has been the odd wobble for stock markets but the end of the week sees the FTSE once again trying to make meaningful progress through the 5900 level, while the pound gets a lift by some surprisingly positive UK retail sales numbers.

A week of missed deadlines for Greece hasn't dented enthusiasm in stock markets too much as they continue to grind out further gains, although it definitely hasn't been the most volatile of weeks. Further QE announced by the Bank of England was met with a muted response by markets, as it was hardly a surprise. Barclays numbers on Friday were initially a disappointment to the market but this was soon shrugged off, leaving everyone eyeing the next Greek deadline over the weekend.