It's a (sigh) Valentine's Day massacre

GDP down worldwide.

Well, everyone agrees today is a Valentine's Day massacre, with growth slashed (or, I suppose, riddled with bullets) worldwide.

  • In Japan, GDP shrunk by 0.1 per cent in the last quarter against expectations of 0.1 per cent growth.
  • In Germany, GDP contracted by 0.6 per cent in the last quarter.
  • In France, it fell by 0.3 per cent over the same period.
  • In Italy, by 0.9 per cent.
  • Portugal declined by 1.8 per cent.
  • In Greece, GDP is reported in comparison with the same quarter in the previous year. The level at the end of Q4 2012 was 6 per cent lower than in Q4 2011.
  • The Eurozone as a whole contracted by 0.6 per cent, worse than expectations of a 0.4 per cent contraction.

That's the worst performance in almost four years for the Eurozone, and an alarming decline on even the post-crisis trend, as this chart from Natixis Asset Management's Philippe Waechter, via Business Insider, shows:


Not a very happy Valentine's day for most of Europe, then.

The valentine's day massacre. Photograph: Getty Images

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

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“Trembling, shaking / Oh, my heart is aching”: the EU out campaign song will give you chills

But not in a good way.

You know the story. Some old guys with vague dreams of empire want Britain to leave the European Union. They’ve been kicking up such a big fuss over the past few years that the government is letting the public decide.

And what is it that sways a largely politically indifferent electorate? Strikes hope in their hearts for a mildly less bureaucratic yet dangerously human rights-free future? An anthem, of course!

Originally by Carly You’re so Vain Simon, this is the song the Leave.EU campaign (Nigel Farage’s chosen group) has chosen. It is performed by the singer Antonia Suñer, for whom freedom from the technofederalists couldn’t come any suñer.

Here are the lyrics, of which your mole has done a close reading. But essentially it’s just nature imagery with fascist undertones and some heartburn.

"Let the river run

"Let all the dreamers

"Wake the nation.

"Come, the new Jerusalem."

Don’t use a river metaphor in anything political, unless you actively want to evoke Enoch Powell. Also, Jerusalem? That’s a bit... strong, isn’t it? Heavy connotations of being a little bit too Englandy.

"Silver cities rise,

"The morning lights,

"The streets that meet them,

"And sirens call them on

"With a song."

Sirens and streets. Doesn’t sound like a wholly un-authoritarian view of the UK’s EU-free future to me.

"It’s asking for the taking,

"Trembling, shaking,

"Oh, my heart is aching."

A reference to the elderly nature of many of the UK’s eurosceptics, perhaps?

"We’re coming to the edge,

"Running on the water,

"Coming through the fog,

"Your sons and daughters."

I feel like this is something to do with the hosepipe ban.

"We the great and small,

"Stand on a star,

"And blaze a trail of desire,

"Through the dark’ning dawn."

Everyone will have to speak this kind of English in the new Jerusalem, m'lady, oft with shorten’d words which will leave you feeling cringéd.

"It’s asking for the taking.

"Come run with me now,

"The sky is the colour of blue,

"You’ve never even seen,

"In the eyes of your lover."

I think this means: no one has ever loved anyone with the same colour eyes as the EU flag.

I'm a mole, innit.