This is an excellent, must-read, Reuters article, published in the Japan Times. Check it out!
The article takes a helicopter tour of European politics – rather than healthy democracy, we are increasingly seeing the emergence of the radical left and radical right. The central ground of European politics – so important to peace, stability and growth since WWII – has opened up with a gaping chasm. Ordinary people no longer have trust in the existing political classes.
A year from now, after numerous elections in Europe, we could be witnessing the beginning of the dismantling of the European Union. Everywhere citizens are wary of the European bureaucracy and in particular are hostile to austerity.
If we throw in terrorism, US withdrawal and increasing differences with Russia, then the risks for Europe are high. Add high risk to an already toxic cocktail of unemployment, negative growth and depression? You don’t need to be an expert – the outlook is seriously worrying.
But it’s still not too late for big bazooka policies…