The BBC reports that Omnishambles has been named word of the year by the Oxford English Dictionary. We used to say FUBAR [F***ed Up Beyond Any Recognition] in the military, but Omnishambles is more polite.
This was just in time as the Austerians have managed to push the Eurozone back into recession, just as John Maynard Keynes said would happen around three-quarters of a century ago. Omnishambles is useful in describing what Merkel et al. have done to the economy in Europe.