With Socialist leader Francois Hollande likely to become the next president of France, Europe’s hot populist anger is about to confront the cold austerity measures required by the euro zone, with a predictable result: a storm that rattles the foundations of the European economic house.
Financial traders and treasury ministers are debating this week just how much damage this political-economic collision will bring. Some argue that it could take down the structure entirely. Others insist that Germany, for all its insistence on austerity, will never let the structure collapse ”” and will make the necessary concessions to keep the common currency intact.
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(Washington Post) David Ignatius–Europe’s gathering economic storm
With Socialist leader Francois Hollande likely to become the next president of France, Europe’s hot populist anger is about to confront the cold austerity measures required by the euro zone, with a predictable result: a storm that rattles the foundations of the European economic house.
Financial traders and treasury ministers are debating this week just how much damage this political-economic collision will bring. Some argue that it could take down the structure entirely. Others insist that Germany, for all its insistence on austerity, will never let the structure collapse ”” and will make the necessary concessions to keep the common currency intact.
Read it all.