Well obviously this is a joke. Even those totally ignorant of Economics (such as the assorted Ministers of Finances of the Eurozone) know that The Frau’s insistence on what in her warped little mind she considers economic policy, has led to recession, growing unemployment and political instability.

But the reaction to Silvio Berlusconi’s announcement that he will stop supporting the Monti regime, provoking an early election in which he will run is enlightening to say the least.

Monti was appointed through The Frau mechanism of putting technocrats in charge. Technocrats loyal to the ECB say (Papademos in Greece) or Goldman Sachs alumni, all of whom consider their duty is to The Frau’s policy and not the countries they have been appointed to govern.

Now Mario Monti, a far more intelligent and likable technocrat than the Greek versions of Papademos and Stournaras, has done everything right. That is he has followed the orders imposed. To his credit he has tried to influence this debilitating dictatorship of What The Frau Wants. As for instance his heroic attempt in the Euro summit where he thought he had passed the agreement that bank recapitalization would not be lumped on sovereign debt, but would be directly between the banks and the EFSF.

But even this very sensible idea was scotched in practice by The Frau. Taking the wind completely out of Monti’s sails.

And we come to the outright panic throughout the world provoked by Silvio Berlusconi. By all accounts a buffoon, a criminal, a scandal monger, a figure of fun that the Italians were glad to see the back of. Yet now, just over a year later, there is panic in the markets because of the fear that, Oh my god! What happens if Monti goes?

First of all their fear is not “if” Monti goes, but “when” he goes. Second, this fear has been triggered by the outcome of Monti’s imposition of The Frau inspired austerity with no growth prospects policy. A policy designed to destroy economies and throw people to the wolves for the short term benefit of the German economy.

So taking into account what The Frau has achieved in Europe over the last two and half to three years, that is recession, unemployment, destitution, destruction of at least one generation, excessive taxation from dwindling incomes and all that, it is hardly surprising that The Markets have been thrown into a panic.

In their own language they have “discounted” the result. That Signor Monti’s policy will lead to an election result they do not want. Because the Italian electorate does not want The Frau imposed policy of the destruction of their country and by extension Europe.

So the complete buffoon, Mr Bunga Bunga has called The Frau’s bluff and shouted, “Hey guys, the Empress has no clothes!”

Why else such a panic? Had the EZ behaved with greater sense deciding upon and adopting an effective economic policy concerned with the people’s of Europe and nit just the bankers, Berlusconi would not have dared pull such a stunt, or if he had, everyone would have shrugged it off and smiled condescendingly at the buffoon, knowing that nothing would happen.

The fact that they have not speaks volumes.