“When your heroes, turn to the enemy
And there’s nothing left to hold
When your heroes, give only apologies
I won’t deny it leaves me cold”

I’ve always been a huge fan of Slash’s solo projects, a couple of days ago I crossed in the way of one of his new songs from the “Apocalyptic Love” album. Honestly the above lyrics just made remind the current crisis in Europe. Unlike the past crisis, this time there are no heroes left to sort this mess.

The American people have the Obama-Bernanke duo, that I believe is providing enough support to keep things together in the US. The Chinese have the policy makers making every effort to keep the economy on its 8% growth target. The Bank of Japan is also closely watching and taking actions to prevent a bigger slowdown.

However, in Europe we can only count on Mario Draghi to move the battalions against the Eurocrats. The president of the European Commission just makes me sad, he is a non-entity, he doesn’t really exist and from him we can only expect a big bag of nothing. Angela Merkel represents the anti-climax in Europe. There hasn’t been any solution presented until now that hasn’t been downplayed by Merkel. And the biggest problem here is that she is now in position to win the next elections: I cannot find enough words to describe how bad that would be for Europe.

From the President of France I expect nothing, he won the elections, he fulfilled his mission, we will hear from him in 4 years, then he will arrange other bold promises to offer to the electorate. From the Greek government I don’t even expect them to hold together for more than 12 months. The Portuguese government is convinced that it is easier for the government to change the people than the people to change its government, since History has thought us that this never works, this is going to end badly. The UK government still believes that their protected from the continental Europe, so they will do nothing.

Therefore we do not have enough leaders taking bold actions, we are not acting we are reacting, and sometimes our reaction has been painfully slow. The reality is cruel for Europe: There are no more heroes!