There is a Greek saying  that goes: Μωραίνει Κύριος όν βούλεται απολέσαι (attributed to Euripides) which roughly translates as “whom the Gods would destroy they render stupid”.  Unfortunately, this is what has happened to the self proclaimed ‘leadership’ of Europe.

A very good article from the Guardian on the Spanish tragedy, entitled Austerity, the pain in Spain ends up with:”Until thinking changes in the North, it is unfortunately, safe to say, there will be no end to the pain in Spain.” And unfortunately, not only in Spain, but everywhere else too! Greece is beyond mere pain. It has been snapped into an excruciating Iron Maiden (Eiserne Jungfrau in German. For The Frau’s benefit). With worse to come.

Why? Well, because the European leadership has been rendered stupid by the Gods. It’s as simple as that. there is no other way to put. No analysis can explain the utter stupidity of this, I was about to say ‘policy’, but that it isn’t. So, this insane obsession with Austerity for its own sake! To achieve what? Fiscal rectitude? When all austerity can achieve is recession and as a consequence a severe dwindling of revenue. Which only leads to an even greater widening of the deficit, and the vicious downward spiral?

But the world’s best and brightest Economists, Nobel Laureates and all, have gone blue in the face trying to drum this simple common sense into the collectives little head of the European leadership (and not just The Frau, to be fair.) To absolutely no avail. They simply have no way of seeing plain simple common sense. If that isn’t having been rendered stupid by the Gods, then what is?

And another little Greek triptych they would perhaps do well to recall,

Hubris, Nemesis, Catharsis.