Two days – that’s how long the newly won stability of the European elites lasted. Two days between Merkel as godmother, with the eyes of all the world on her, and that plunging feeling. A clinician could describe what this is: a pathology. He could describe how sick the collective psyche is, how untrue and self-deceiving the fantasies of omnipotence and self-confidence that it allowed to blossom.

Horror in Germany, Finland, France, even in England, horror in the financial markets and the banks: horror, horror, everywhere – just because the Greek Prime Minister, Georgios Papandreou, plans a referendum on a fateful question for his country.

**This content has been removed under request of the copyright owner.** Translated from the German by Anton Baer