Thus Der Spiegel today. “Europe’s debt crisis seems to have entered a clam phase,” the newspaper explains, “but that’s only an illusion, German finance minister Wolfgang Schäuble said.” The calm has thus been interpreted as the eye of the storm, whence the false lull. Well, we are lucky to have such an astute finance minister at the helm of the eurozone. He is not beating around the bush, either. Greece and Spain will feel the storm’s brunt soon. And so will the rest of the eurozone in due course. All this is rather unsurprising to anyone who knows anything about Europe’s debt crisis, but it is still a joy to read. The only complaint I can come up with is that even the German finance minister is making sure not to mention the depression that Europe is grappling with at the moment. Not to mention America, of course. That ominous word is still beyond politicians no matter how astute. Not even Schäuble can spit it out yet. Alas!