It's that time of year again… when Europe gets together for its regional singing contest.
Loved and loathed in equal measure for its mix of kitsch costumes, often cringe-inducing lyrics and flamboyant performances, the annual Eurovision contest this Saturday will see 26 countries competing for the glory of hosting next year's competition – something of a mixed blessing if a European country suffering from economic decline wins the title.
This year, Sweden is hosting the event after its entrant, singer Loreen, won the competition hosted by Azerbaijan last year with her song "Euphoria."
The finalists were confirmed after the semi-final on Tuesday saw Latvia, San Marino, F.Y.R. Macedonia, Bulgaria, Israel, Albania and Switzerland kicked out by the European public's phone votes.
Launched in the 1950s with the aim of bringing together a fragmented, post-war Europe, the competition comes under fire each year as votes cast by the public in each country are often seen as politically or geographically biased, with Scandinavian or Southern European countries tending to back each other.
The U.K. has resurrected veteran pop singer Bonnie Tyler as its entrant. Along with hosts Sweden and fellow major contributors France, Germany, Spain and Italy, the U.K. is guaranteed a place in the final because it is a major financial contributors to the event overseen by the European Broadcasting Union.
CNBC asked viewers and readers to tweet their suggestions for a song that best summarizes Europe in 2013.
Suggestions so far have included Marvin Gaye's "Mercy Mercy Me" from trader Manoj Ladwa. Kit Juckes, global strategist at Societe Generale suggested "The Final Countdown", originally by the appropriately named Europe, and Accendo Markets' Mike van Dulken proposed Guns N' Roses' "Too Much Too Soon".