The lesson of the Greek elections is that European rulers are sleepwalking into a collision with their electorate because the core premise of their economic model is faulty. The electorate has been asked to put up with pain for years with the unfulfilled promise of better things around the corner. It is always the fault of the poor and the sick, not of the predictive power of a discredited economic model. The best the leaders can offer is economic growth and job creation on an American scale. The mantra of labour flexibility translates into income growth for the bottom 90% of the population lagging behind productivity growth.