The expression “a descent into farce” is meant to describe a terminal condition – where things have become as ridiculous (or whatever pejorative term you desire) as they can get. I think the Euro elites are carving out new grounds that will require some new terminology. Their latest iteration – the second Cyprus bailout deal – is about as bad as it gets. You would think anyway. But given the capacity to outdo themselves with incompetence and sheer bastardry, I will await further developments before I consider the latest action to be the terminal condition. It almost beggars belief that highly paid and obviously self-important senior officials (such as the Dutch Finance Minister who is the head of the Eurogroup of Finance Ministers) could in one breath say one outlandlishly stupid remark to the media and then, in the next breath, repudiate that statement with another equally nonsensical statement that flies in the face of fact and practice. So if anyone out there wants to speculate on “What comes after farce?” please let us know. The problem is that as a slapstick comedy this rates among the best except in this case, millions are unemployed. But it goes further with the Cyprus fiasco – and the Dutchman’s hints of a new model forming. First, the unemployed and poor are bearing the risks of a failed capitalist economy. But now, the consumers are being forced to take losses. Where the hell are all the capitalists? Probably wining and dining with their Euro elite mates in Brussels.