Monday, October 27, 2014
The institutions of the European Union work in wondrous ways. Last week the voice of doom thundered out of Brussels: "France, thou shalt explain why thou hast sinned against the Stability and Growth Pact." At first Michel Sapin denied that God had spoken, but then the First Vicar and President of the Republic admitted that He had, but that "it was nothing," just a friendly communication between sommités. This morning France announced that a miracle had indeed taken place over the weekend, and as a result of lower interest rates and some other hocus-pocus France's "structural deficit" had indeed fallen more than previously noted. And now, just a few hours later, word has it that the Lord on high has been mollified. France will not be sanctioned after all. Just as everyone predicted would happen after the divine throat clearing. And so we limp on for another year.