Frugal Angela won't rush to save us if we mess up again
And so the headmistress gave us a pat on the head – and told us that if we stick to the awful homework she has laid down for us, we just might be able to get out of the dunce's corner.
Maybe we should take some solace from the fact that German Chancellor Angela Merkel, flushed with her historic re-election as the most powerful politician in Europe, still found time to say she was "grateful" to Ireland for enduring the dreaded austerity straightjacket.
However, such good tidings apart, the bottom line from our viewpoint is that Angela is back in the Euro driving seat. Based on what she said over the last few days – and to paraphrase a line from Margaret Thatcher – the lady is not for turning on one of her basic beliefs.