Two important elections took place in Europe last week, with results that could well spell the breakup of the eurozone and possibly of the European Union itself.
In France Nicholas Sarkozy, the little Napoleon, received his marching orders from a disgruntled electorate tired of his vain posturing and his failure to make any headway in solving the continuing financial problems of both France and the eurozone. His conqueror, Francois Hollande, a socialist, has made it clear that he does not support Germany’s attempts to solve the European crisis and it looks like the cosy Franco-German axis of Sarkozy and Merkel is no more.
In Greece, the ailing country’s electorate have grown sick of the austerity measures imposed upon them by their German-backed government and have ousted it in favour of a government promising to both inject growth into the economy and reject the international bailout plan previously agreed with the rest of the EU.
It all looks pretty serious and Europe’s problems seem to be getting worse rather than better. Surely, it is now only a matter of time before Greece defaults on its debts, leaves the euro and causes a financial collapse which will reverberate throughout the whole eurozone and beyond? Greece is looking more and more like the card to bring down the whole pack. Let’s hope that our Government are taking appropriate measures to cope with the inevitable fallout.
Common Sense 