In Europe, what started out four years ago as a sovereign debt crisis, morphed into a euro currency crisis and led to the fall of several European governments, has now triggered a full-blown crisis of public confidence: in the economy, in the future, in the benefits of European economic integration, in membership in the European Union, in the euro and in the free market system. The public is very worried about joblessness, inflation and public debt, and those fears are fueling much of this uncertainty and negativity.
Europeans largely oppose further fiscal austerity to deal with the crisis. They are divided on bailing out indebted nations. They oppose Brussels’ impending oversight of national budgets. At the same time, Europeans who now use the euro have no desire to abandon it and return to their former currency. And anti-German sentiment is largely contained to Greece, at least for the moment.
MORE via European Unity on the Rocks | Pew Global Attitudes Project.
Filed under: Blogosphere, Culture Think, ethnicity in politics, European Alliances, geopolitical, International Relations, News, Political Economy, political plots, European Community Crisis
November 26, 2011 • 6:51 pm
EVEN as the euro zone hurtles towards a crash, most people are assuming that, in the end, European leaders will do whatever it takes to save the single currency. That is because the consequences of the euro’s destruction are so catastrophic that no sensible policymaker could …
MORE via The euro zone: Is this really the end? | The Economist.
Filed under: Banks, Blogosphere, European Alliances, geopolitical, International Relations, News, symbols as swords, WeSeeReason, Euro, European Community, European Community Crisis, The Euro Zone
November 21, 2011 • 3:12 am
TIMING in central banking, just as in politics, is everything. Originally, Jens Weidmann, the head of the Bundesbank, was supposed to speak before Mario Draghi, the new president of the European Central Bank (ECB) at the European Banking Congress, held today in Frankfurt. But a late change of the agenda had …
MORE via The euro crisis: A sense of surrealism | The Economist.
Filed under: Banks, Blogosphere, consumers, geopolitical, News, political corruption, Political Economy, symbolic uses of politics, WeSeeReason, European Community Crisis
November 12, 2011 • 3:39 am
WHEN BRITAIN ABANDONED the gold standard in 1931, it was not only forsaking a system for managing the currency but also acknowledging that it could no longer bear the mantle of empire. When America broke the dollar’s peg with gold in 1971, it ushered in a decline that continued until Paul Volcker re-established confidence in the currency in the early 1980s. As Joseph Schumpeter, the great Austrian economist, once wrote: …
MORE via Staring into the abyss | The Economist.
Filed under: Banks, Blogosphere, Economic Recession, European Alliances, geopolitical, Mass Media and Public Opinion, National Debt, News, political corruption, Political Economy, political plots, propaganda and spin, Public Policy, Public Sector, symbolic uses of politics, WeSeeReason, European Community, European Community Crisis, European political economy, Europeans