Thus the Financial Times today. “Wall Street approaches post-crisis high,” elaborates the newspaper cheerfully. Good news, no doubt. Excellent news, in fact. Except that the German chancellor is stuck between the devil and the deep blue sea. Her electorate is about to oust her from power if she makes any further concessions to the eurozone. And except that Angela Merkel now represents the European Union perfectly alone. She is the Union, no less. No-one else is anywhere near her now that the eurozone’s flagship is squarely in her trembling hands. Anyhow, the stockmarkets are still up. And away. All of the above is beyond the investors’ ken. Returning to the poor German chancellor, she is sure to be sainted in the fullness of time. The most powerful woman in the entire world. Pace Virgin Mary.