Everyone is very up beat about how the Eurozone economy is out of recession (0.3% growth… hmmm), how things have stabilised and the yields on Euro sovereign debt have fallen and remained low (solely owing to Draghi’s as yet untested OMT) and above all that the Cassandra’s prophecying exits from the Euro (Grexit above all) and even worse a collapse of the Euro have been proved wrong!

They always forget, however, that the thing about the hapless Cassandra was that she always got it right but was never believed till the disaster actually did strike. So watch it when it comes to premature triumphalism.

The Greek disaster is being tarted up and covered with make up and rouge on the cheeks to conceal the fact that this lady is in fact already dead. But that may stop after the German elections. It would be inhuman not to stop, though the Eurogeeks are so terrified that the Euro will unravel if even a little country with hardly any GDP left exits, that they’ll do anything to present this corpse at least as a zombie.

They are also so arrogant as to keep stating that Greek debt is sustainable and will in fact be paid back to them. How? How can a country in chronic decline with unemployment levels expected to reach and exceed 30% if, or rather as, current policy remains in force? And more and more nonsense piles up as they cling to the illusion, the German led illusion, that everything will sort itself out if we stick to the rules!

No one even dares suggest that.. rules? what rules? That bunch of punitive counter productive measures concocted in a blind panic with the sole object of saving the banks of Germany and France from a Greek default? And how are they going to save their taxpayers now from a Greek default on the much greater debt level owed them now?

Simple! We shall merely keep lending them more and more so that they can keep paying us back, provided of course they continue sucking their own economy dry in order to … stick to the rules. All that will achieve is a greater bust when Greece can no longer keep up the pretence. After all, just how much tax can you garner from a moribund economy? Not to mention what happens when people no longer have anything to lose?

Still. There you go. That is the current Euro line everyone must stick to because so says Germany, or else!

Nigel Farage is often considered a bit of a clown by some (and a dangerous threat by others). Nevertheless today he spoke the simple truth by shouting out in the European Parliament at Strasbourg, on the occasion of Barroso’s Nonsense State of Europe speech, that the King really has no clothes. He said,

“The euro will die a very slow and painful death, but you’re all in denial about that.”

And that’s absolutely that.