The world is going to hell, meaningful economic growth is a long-forgotten phenomenon, and by the way what are your plans for summer? That, roughly, is the vibe in Europe these days. To outsiders it feels hopelessly self-indulgent. Europeans have plenty that ought to keep them up at night. Beyond war in Ukraine and Trumpism in America, its big companies are also-rans and the continent’s population is shrinking for the first time since the plague seven centuries ago. Panic, moi? Whatever the issue, if it cannot be dealt with in the next few weeks it will have to wait for la rentrée in September.

Europeans know the global race for economic supremacy is lost. But the continent’s business model endures: it is a third poorer than America, works a third less, and is a lot more tanned at the end of August. 

Enjoy the weekend. Most Europeans will also enjoy Monday off, by the way.