“THE RETURN OF THE EURO CRISIS” (April 20, 2012)

Thus the subtitle of a leader in the current issue of The Economist. Hard to disagree, of course. Except with the very notion of return. Return? The euro crisis has never left us, but it meanders out of view every now and then. This has next to nothing to do with the crisis itself, but with the inattentiveness of so-called investors who drive the stockmarkets of this world. Their attention is pitifully patchy, indeed. One is reminded of Ikkyu, a Fifteenth Century Zen master from Japan. When he was asked to write down a maxim of highest wisdom, he presently picked up his brush and wrote a single word: “Attention.” When this was deemed not sufficient, he wrote two words: “Attention, attention.” The story ends with three identical words and total puzzlement of the master’s inattentive audience. Perhaps the same words of wisdom can be directed at the mighty newspaper: “Attention, attention, attention.” Forget about the return of the euro crisis, that is. Focus on the meandering crisis itself.