Look! the Eurozone is onto recovery. PMI up! Even the Greek PMI has gone up over 50 for the very first time since the crisis set in! Germany is posting strong growth, and Italy, Spain and Portugal are doing well too. Only… well, France isn’t doing too well. But no matter. As soon as they realise they must also slash all welfare, abolish the 8 hour day and all labour rights, they’ll be on the mend too. Why look at Greece!

As well you might. It’s great! Factory output is up! Hmmm, yes well, but workers are still being laid off and unemployment is growing. Oh that doesn’t matter, they have achieved, it is pretended by all, a primary surplus! Ah, but the debt burden is GROWING and little Wolfie wants to add to that burden by offering a further loan with more impossible strings attached so that… Greece can pay them back. But not grow or recover.

Every tiny piece of positive information is instantly pounced upon to show that YES! This nonsense economics is working! Look, even Greece is showing slight signs of recovery. Ok the rising unemployment has not yet stablised but it is not growing at the same pace. As for the totally unsustainable debt. Oh just ignore it to keep little Wolfie and his Mutti happy.

We don’t bother with deflation and dangerously low inflation, we don’t bother with unemployment, we don’t bother with low consumption. No we don’t bother with anything that matters because we are in a state of complete and utter denial.

Professor Yannis Varoufakis has an interesting analysis on why the Eurozone and perhaps even the EU altogether will just disintegrate if Germany does not decide to be serious about all this and to stop being the Authoritarian saying No to everything that would help the Eurozone recover because: “It’s against ze rules!!!!”

Unfortunately it is a matter of vision, of being able to see clearly and, perhaps above all, beyond one’s immediate narrow, short term interests as perceived and onto the big picture. But that takes much bigger politicians than we have today anywhere in Europe. In other words a statesman or stateswoman or two would go a long way to resolving the crisis. Should they not appear then we are on the way to catastrophe.

The Germans and French have already had their elections.