The cost of labour has fallen drastically in Greece! And in fact she has been commended for achieving the greatest reduction in labour costs in the whole Union!

Now, why is it that he unemployment has now reached first place in Europe at 26% and growing?

Isn’t cheap labour supposed to lead to the opposite?

Hmmmm….

Imagine that! An upstart American (possibly of Jewish origin… hmmmm?) actually having the cheek to tell Herr Schauble, the mighty Herr Schauble, Master of Europe, that perhaps he may not have got it right? What can an upstart American know about Herr Schauble’s sublime plan for the European economy?

So he sent the Mr Jacob J. Lew, the U.S. Treasury secretary packing! In a very arrogant Teutonic way. Because Schauble is the only one who knows, really knows how to handle the European Economy. He knows he is doing the right thing and in a few years he will have set Europe right!

Well yes. As in he will have given a Final Solution to the European problem.

Now if that is not the definition of Hubris, I do not know what is.

Soon Herr Schauble will have to brush up his ancient Greek and find out all about how Nemesis works too.

Though I dare say that he will find out from painful experience.

Sounds fair. After all he is an expert at subject ing those weaker than he to very painful experiences under the pretence that punishment leads to reform.

For all the punishment he may or may not be subjected to sooner or later, I very much doubt whether he will ever become a reformed man. A jilted one, possibly. The Frau is notorious for petty tactics and about turns when it suits her own personal ambitions. Who knows? Herr Schauble may turn out to be the best scapegoat she could ever dream of.

Throughout the Eurozone crisis the Brussels-Berlin axis has been obsessed with saving the banks at any cost and sticking it to the deviant states such as Greece, Ireland, Portugal, Spain. The axis was determined to make European taxpayers pay through the nose, to destroy several economies, to plunge the whole zone into recession and growing unemployment in order to save the banks.

Then all of a sudden hey! Hang on! No. Lets do something else. Lest change savers into investors, lets grab bank savings instead and “save” the banks (or whatever may be left of them) in this way. Hence the Cyprus coup, or rather coup de grace! And then the games begin. Cyprus a unique case! Then no this is a template for the future. Then, no it is a once off, then Olli Rhen himself, the Grand Master of European Nonsense Economics states it clearly again. Yes! This is what we shall be doing from now on.

Meanwhile in Greece, after being pushed and shoved and coerced into merging the country’s banks into three major ones, the troika comes back with another, hang on! No! You can’t do that! The National Bank Eurobank merger must not go ahead! And what the troika says, Samaras and Stournaras scuttle and do regardless.

Now, humankind cannot bear to remain in the dark over anything. It must have some kind of explanation for the most nonsensical of things. And that is what religions are for. To explain the unexplainabe so people can just shrug it off as “God’s will” rather than nonsense! and absurd!

And when humankind cannot have recourse to religion for this, it turns to conspiracy theories. There simply must be some reason why, however dark and satanic it may be! And in the case of Euro nonsense economics, conspiracy theories abound. The Cyprus decisions and such were made so money would rush out of the banks of southern Europe and into the “safe” coffers of German banks. Thus saving them from bankruptcy. For instance. And this one is based on solid logic.

Other theories pertain to the German hunger for “Mastery in Europe”, a revival of the third Reich by other means. And so on and so forth. But no. There are no dark conspiracies afoot. The inexplicable has not been hatched up in some secret smoked filled room, or in a bunker!

Unfortunately I fear the explanation is much simpler and much more terrifying. Europe’s fate has fallen into the hands of a bunch of incompetent, narrow minded, unimaginative, dogmatic people who have lost all touch with reality. Their scope is extremely limited and goes no further than their own personal (not even their country’s) ambitions. To win the coming election, to retain the plush sinecure of President of Europe or the Commission or whatever else and so on.

So they do not even understand the real problems, still less what to do about them and God forbid that they should even realise just how catastrophic their own self centred shenanigans really are. Their way of “dealing” with the problems is piecemeal, amateurish little trick of lets try this and see if it works. Lets bully everybody into thinking we know what we are doing. Which is why they are so inflexible and never admit that something may not be going quite right.

Instead they keep coming up with “quick fixes” and slip shod partial remedies all designed simply to kick the can down the road, till the next elections or something like that.

In effect they are acting like the proverbial sorcerer’s apprentice. They think they can do what the sorcerer does. They try out his odd little spells which they have no idea how to control, and end up wreaking mayhem, because they don’t have a clue what they or doing or what their tricks will provoke.

In the end they will end up drowning under the mess they have created on their own. Not unlike the Disney Fantasia version. (Watch this to the end. It is great!)

No. She isn’t a Hitler. She’s one of those school marms who is convinced she always know best and will give you a whack over the knuckles to prove it!

Well you don’t need to be an economist, still less a genius to know that the Eurozone is in one hell of a mess. The causes are many, boiling mainly down to the state of denial of the Eurozone’s leadership. Their entrapment in the closed view of their own particular and narrow interests. Whether of their own states, or their own jobs or just their own electoral advantage.

Now that’s no way to run a football club, let alone a country, let alone a would be union.

Nevertheless, when the history of this tragic period is finally written, I expect it will go down as the most horrendous period of attempted social engineering, where the concept of “human being” was obliterated by the direct descendents of the Enlightenment and the Rights of Man, in favour of nebulous arithmetical (badly done) sums and the narrow self serving advantage for a select few.

– Joblessness in the currency bloc hit an all-time high of 12% in February

– Eurozone lending declines

– Slump in eurozone manufacturing could prompt ECB to cut rates

Well now. These are all today’s headlines. The direct result of the Teutonic policy of punish them to teach them a lesson they will never forget!!!!

Congratulations Frau Merkel and Herr Schauble, You have accomplished all you set out to do. You have brought the Eurozone down to its knees and very possibly even endangered the very’s Euro’s existence. At least you have made certain that a good many Europeans will say, Good riddance to bad rubbish, once it does go.

But what has Germany gained? Even her own output is falling, and worse to come is on the horizon. So what has she gained? Well, a power trip for starters. She has shown quite clearly, thanks to the likes of Baroso, Rumpuy, Rajoy and Samaras… and perhaps Hollande too, that she is the boss and everyone will do as she says. or else!

Yes. And?

Well, isn’t that enough? Hmmmm….

There is one thing wrong in all this. Thee EU and its component the Eurozone are supposed to be entities for the advancement of the continent’s economy. First the single market, then (the badly designed) Euro and all that building up into an Economic Union.

Only the Germans don’t get that. They seem to think it is all about kicking the little guys when they are down so you can dominate. And that is what she has done. Never mind that all she has done is cut off her nose to spite her face.

So when it is an issue of getting economies working again, rather than a policy of teaching your subordinates a lesson they will never forget, it is preferable to make you partners an offer they cannot refuse.

Because one thing they will never forget is how stupidly harsh you treated them when they were down. And never buy anything from you again if they can help it!