SocGen's Daniel Fermon as penned a must read presentation titled "All you ever wanted to know about European austerity plans... but were afraid to ask" which answers pretty much all open questions about the European plan to streamline its economy, and strengthen its currency. Unlike the US, Europe at least is on the right path. Which is why at the end of the day, the EUR may rise and it may fall, but as long as the Fed refuses to acknowledge that America itself is in dire need of cost cutting, it will certainly be the USD that hits zero first in the competitive game of devaluation. What is truly sad is that this is precisely what the Fed wants: the destruction of the entire US middle class. As for the relevant questions asked, the top 5 are: 1) Why is it necessary for European countries to deliver austerity plans? 2) What do we really know about the different austerity measures? 3) Do past examples fully justify these austerity measures? 4) Which variable should you look at to analyze the success of these austerity plans?, and 5) How to invest under an austerity plan scenario. All the answers are inside.