Political drama continues in Europe as EU demise looks inevitable

european unionIt is all messy in European Union. Leaders of the nations are losing all their trust among the voters. EU leaders failed to fix the problems faced by Euro and now they know the have run out of time and there are not much option left with them. Mish posts political updates of European Union countries, here are some of important updates:

    • Italy’s prime minister has a voter approval rating of 22%
    • Merkel’s Christian Democrat party (CDU), only managed to pull in 24% of the vote in her home state in an election September 4th
    • Spanish Prime Minister Zapatero’s Socialist Party suffered a massive defeat over his austerity programs in May. It was the worst rout in 30 years for Zapatero’s Socialist party.
    • In Finland, True Finns party chairman, Timo Soini launched a scathing and accurate attack against Jean-Claude Trichet, Jean-Claude Junker, and the ECB for its policy raping taxpayers of various countries to pay back German, French, UK, and US banks that made stupid loans for stupid reasons.
    • German Chancellor and French President oppose Eurobonds.
    • 89% of the German population oppose the expansion of the EFSF and doubt that ever larger amounts will solve the debt crisis. 80% demand that parliament must agree each time before Germany can take on additional burdens and risks. 85% demand that financial institutions, rather than taxpayer, take the first losses when a country defaults.
    • Marine Le Pen, a top French candidate who wants to "let the Euro die" is polling ahead of French President Sarkozy

Sarkozy and Merkel are too confused to take a correct decision. If they try too hard to save EU then they may lose the trust of their people back home and if they don’t  save EU then no one else can save it either.

Hitesh Anand

I am a post graduate from Newcastle University, UK. I like studying and analyzing economic data and financial health of world.

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