Euro Zone recession over? it hasn't even properly started. in the immortal words of those mullet-haired Canadian rockers Bachman Turner Overdrive, baby, you ain't seen nuthin' yet...

Delusion is a kind word for the belief that recession has ended in the Eurozone.... we'll see how the euro zone looks when both the French and Spanish banking sectors and probably Germany's too need to be bailed out and recapitalized, or can the probable half trillion euros of bad debt and overvalued junk bonds sitting on the banks' books be hidden forever?

Real recession is alive and well.  What we have here is, at best, a bogus temporary fix.  Like using filler to 'repair' a heavily corroded chassis of an old car, so these financial people and politicians are bodging the economy and trying to pass it off to people as if everything was repaired.

Just as a buyer would be very angry and feel cheated and made to look a fool when the find out a supposedly sound vintage car is  a heap of rust so these charlatans are cheating and lying to us.

The Eurozone is in a disastrous mess.  The EU has a medieval system of government with no distinction between the legislative and the executive in the form of an unaccountable Commission.  Its parliament can only block laws and is filled with over paid placemen with the vast majority from taking countries.  Such a primitive dangerous and medieval system was last seen in the UK under, perhaps, King Edward 1.  

Medieval systems mould politicians into medieval mentality.  The unelected Commission is dominated by medieval primitive individuals in business suits thinking, like medieval kings, that they know best and little people should be seen and not heard and never to be consulted.  They consider listening to little people the way of ignorance.. which is ironic because, as we all know, failing to listen is the hall mark of bad management and fatal to all constructive good politics.

Far from being healthy, the Eurozone is suffering from gross mismanagement and bad government caused by medieval mentality and minds attempting to run a 21st century super-state.  Never was there a more hopeless recipe for abject failure than this.

Meanwhile, Cameron, Milliband and Clegg all approve of this vile, dangerous, primitive and elementally regressive government as they all support the eradication of our imperfect but radically superior democracy in the UK.

This is not a mess, it is a betrayal which threatens us all.  Cameron, Clegg and Milliband loathe us and are happy to see the UK become a province of an immature, primitive, dangerous, unaccountable, regressive and, potentially, very nasty European super state.

Fitch Ratings warned that Europe had not gone far enough with plans for a banking union to lower the risk of bank defaults. The new resolution fund (SRM) would scare away funds by concentrating losses on senior bank creditors. Investors were “likely to differentiate more between weak and strong banks” if they could not be sure of state-backing in a crisis.

This will make it harder for weak banks to raise capital, forcing them to deleverage by selling assets, further crimping lending. Roberto Gallo from RBS said small banks may have to slash assets by €2.6 trillion (£2.2 trillion) over the next three to five years to meet new rules.