'Creditanstalt' Titanic Prize for Incorrigible Piloting of Unsinkable Ships

The 'Creditanstalt' Proudly Announces the Creation of the Titanic Memorial Prize for Incorrigible Piloting of Unsinkable Ships in Treacherous Waters

RMS Titanic living up to her unsinkable reputation in 1912.

Capt. Edward Smith, imperturbable commander of the Titanic  and exemplary role model for current European leaders

Inspired by the op-ed in today's New York Times Europe Is Responding, co-authored by JEROEN DIJSSELBLOEM, OLLI REHN, JÖRG ASMUSSEN, KLAUS REGLING and WERNER HOYER, the 'Creditanstalt' has decided to create a third Memorial Prize named after that incomparable paragon of  European engineering, the RMS Titanic. The recipient of the Titanic Prize will be awarded One Million 'Euros' in European Investment Bank grants.

The five authors of this convincing piece have been jointing and individually nominated for the prize by the Awards Committee. (Dijsselbloem and Rehn have already been nominated for the Brüning and Mellon Memorial Prizes, where they are in serious contention, as readers can see from the ongoing poll results on the sidebar.) Additional nominations will be accepted by the Committee until April 30 by submitting comments to this post.

Some inspiring excerpts from their rousing clarion call:

"But in the eye of the storm, we strengthened the foundations of our currency and improved the sustainability of our economies." 

"This response to the crisis has delivered results. Countries under assistance are improving their fiscal situation and regaining competitiveness."

"Europe has responded to adversity by moving closer together and deepening integration. As a result of our determination and our common strategy, a difficult but necessary adjustment is taking place, from which a stronger euro zone is set to emerge."

Thus fiscal icebergs have been skirted and watertight contagion compartments are battened down. What do a little icy unemployment and recession choppiness matter to the Eurocrats and bankers in first class? The lookout is agreeably delusional in his crow's nest. The captain has gone to bed early after penning an op-ed for the New York Times and issuing the order of the day:

Full Speed Ahead!