Supporters of Socialist Francois Hollande celebrate in Paris
Posted on 05/06/2012 8:30:13 PM PDT by bruinbirdman
The stunning victory of the French Socialists and wipe-out of mainstream parties in Greece sent shock waves on Sunday night crashing throughout the continent of Europe.
Supporters of Socialist Francois Hollande celebrate in Paris
François Hollande's election threws down the gauntlet to Angela Merkel, the German Chancellor, who has railroaded the eurozone into agreeing a new "fiskalpakt" treaty enshrining Germany's austerity doctrine.
The economic doctrine of austerity, to cut the burden of state spending to free up the economy, has ruled supreme with the support all of Europe's leaders, the European Union and financial markets.
But political leaders were on Sunday night conceding the consensus had been shattered beyond repair.
With Europe's economies plunging further into recession and as unemployment in the eurozone breaks record levels, voters demands for a new approach had finally become to great to ignore.
The popular backlash to EU imposed austerity to the centrist New Democracy and Socialist parties in Greece threatens the existence of the euro itself.
Greece is potentially ungovernable as a minority government must try and pass a new raft of austerity measures next month which are a condition of an EU-IMF bailout and Greek membership of the euro.
In France, while Hollande, the Socialist President-elect is a centrist, he is sitting on a powder keg of resentment at measures that his government will have to pass if it is not spark a meltdown of financial markets.
He has refused to ratify the treaty unless the eurozone and EU also sign up to a "growth pact".
Mr Hollande also horrified Berlin by sneering at the idea that France should change its constitution to enshrine a "debt brake" outlawing Socialist spending levels.
In a meeting in Berlin next week, Chancellor Merkel is set to warn the French President,
(Excerpt) Read more at telegraph.co.uk ...
Indeed:
“The mainstream media will attempt to spin French President Nicholas Sarkozy’s loss today to Socialist challenger François Hollande as a rejection of ‘austerity’ policies—and to urge American voters to reject the deficit-cutting politics of the Tea Party when we go to the polls in November. In fact, there are important lessons from France—and they are the precise opposite of what the media is telling us.”
“With Europe’s economies plunging further into recession and as unemployment in the eurozone breaks record levels, voters demands for a new approach had finally become to great to ignore. “
What “new approach” would that be? These idiots have just bought themselves many decades of misery.
Gentlemen, start your Panzers!
Deficit spending squanders capital and leads to poverty. Financial gimmickry will not produce real wealth. Austerity one way or the other is a reality.
what has to happen to the whole world is massive inflation.....I don't see how else the world's debt gets paid....
Must be a Democrat talking point, seen something here locally declaring the same, to which we ask, “then why hasn’t any of stated intent of the Government Stimulus worked since Pelosi, Reid and Congressional Democrats started it in 2007?
and the dollar.
and the dollar.
Stunningly stupid.
“The second [wing of the Left] is the highly educated intelligentsia,” continues Gingrich. “These are people of whom Ronald Reagan said ‘it isn’t what they don’t know that’s frightening, it’s what they know that isn’t true.’ These are the people who believe that Castro is really okay, that Chávez is a pretty good guy, and that it was terrific that Ahmadinejad got a nice run last week and no one was mean to him in New York.”
http://www.gingrichproductions.com/reagan/nroint.html
Frogs.
I’m sure the French know what they’re doing. /s
Stupid Froggies. The Germans may just come over and kick ass again.
The article claims the French voted in the socialist because Sarkozy’s austerity wasn’t austere enough. To that I say, huh?
gitmos
Of course, in Europe, where Socialism is the euphemistic norm, a leftist is a Commie, Greenie or Anarchist. A patriot is an extreme right winger or Nazi.
yitbos
Never let a good crisis go to waste. Elect more Republicans.
yitbos
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