When you get lost in the desert  you start going round and round in a blind circle without realising you’re lost. You think you are going ahead and you think you are in charge of where you are going and of your own destiny as if no one had ever got lost that way ever before. You keep going, under the conviction that you are navigating your own course and you actually believe you will get out of the desert in the end.

I think this describes The Frau’s New Europe in a nutshell.

In this context, I would like to share a Reuters article with you entitled Bernanke says banks need bigger capital buffer . Just one quote from this article providing yet one more instance of European brilliance, aka pig headedness.

“A Call from the head of the International Monetary Fund Christine Lagarde last year for European banks to raise up to 200 billion euros in new capital was quickly rejected by European politicians.”

Ring a ring a roses

A pocket full of posies

Atishou atishou

We all fall down!

A children’s nursery rhyme originally inspired by the effects of the Plague (aka The Black Death). Today it could be interpreted as European policy (or rather lack thereof) and where it will lead:

Atishou, atishou we all fall down.