I would like to go back to my post of 8th December and my ‘Fat Lady’ metaphor. That is how the Merkozy idea of a successful economic policy as akin to trying to push a fat lady through the key hole instead of just opening the door for her.
I hate to be a wet blanket, but despite (or perhaps because of) the ECB’s recent generosity in throwing cheap money at the banks (not states, remember, but banks so they can profit from it and NOT peoples. God forbid!) I very much fear that The Frau is still in absolute denial, to use Professor Varoufakis description.
Her avowed aim appears to be to plunge the whole continent, eventually into starvation. First Greece, then Ireland and Portugal and now Italy, Spain and so on. Well of course! You may say. How else will she get this corpulent lady through the key hole without starving her? Indeed.
However, the Americans have a great expression. It aint over till the Fat Lady sings. The fat lady presumably being a booming voiced soprano.
Have you noticed, how all these bank and financial institution buildings are usually always made with glass exteriors (take the ECB building in Frankfurt as a random example)? Yes. Well.
The Fat Lady of Europe has not sung yet. But she will. Perhaps even quite soon. And when she does, it will be glass shattering.