Austerity is the very core of the Euro Elites’ belief structure and anything less is heresy. But, across Europe from Hollande (in France) to Athens the political patience with austerity, and its increasingly apparent failure, is in the air. Austerity has done nothing to improve sovereign finances (actually increasing the imbalances in most cases!), and destroying economies with the resulting high social costs. Self-inflicted recession has not worked. There is no point in clinging to a failed ideology of austerity. The Euro Elites won’t accept that without a struggle.