Okay. So all problems in the Eurozone solved, by the heroic, tireless Germans once again! The Bundestag generously and selflessly voted in favour of the Spanish Bank bailout. Provided, of course, that it be firmly understood that this loan will be born by the Spanish Taxpayer and therefor worsen the Debt to GDP and deficit figures. How else can it be? Oh, and of course, there must be a Memorandum of Understanding to ensure the further crippling of the Spanish Economy.

Today’s Eurogroup teleconference will convene EXCLUSIVELY to rubber stamp the German decision. So what else is new? And then, problem solved! We all take ourselves off to our preferred summer spots, be they sea side or mountain, and when we come back we will hammer out the actual details. No need to rush. The Frau’s plan for the Final Solution of Europe is proceeding beautifully as planned.

None of these ridiculous Monti inspired direct bank bailouts. No! Ridiculous! It’s the taxpayer that needs to be screwed and that is what we firmly intend to do! So off for the summer hols, problems all solved, nothing requiring any urgency till we come back. Just the way it happened last year with the so called ‘solution’ of the Greek question with that appallingly designed, and utterly ineffective, bond swap. But no matter. Greece can go to hell as far as we care. And the sooner the better.

Little Wolfie told the Bundestag yet again that Spain is not Greece! We shall see about that. Next year? Do we even have that long as a Eurozone or even a European Union I wonder?

Meanwhile, although all problems have been solved and we’re off to the Alps or the Riviera, Mediterranean yields have climbed into the danger zone again of over 7% for Spain and over 6% for Italy. But no matter. All they have to do is stick to the rules of the recession inducing programs,  hike taxes again and all will be well. We KNOW what we are doing and don’t let anybody ever doubt that! Understood? Click heals and salute.

But what about these department stores closing down in Germany? Neckerman is it? Too bad. But it wont make any difference to the juggernaut German Economy which is far superior to any other in the whole world! You hear?

Well yes. Unfortunately we have heard words to this effect before.