With the second and final round of French elections scheduled for this weekend, along with ones for the politically unstable Hellenic Republic, all eyes return to the eurozone. Will policy makers and technocrats survive yet another round of elections, or will the people reject the medicine of brussels and go their own way? We ask economist Constantin Gurdgiev for his take.
We have often made mentioned, on this show, of the resurgence of nationalist, right-wing politics in some of Europe's most afflicted countries, both within the core and in the periphery as well. Europe resembles at times a pressurecooker without a regulator to let some of the steam of popular discontent escape when things get rough, as they have been getting for the past few years in countries like Greece, Spain, Italy and so on.It seems that Europe's elite: its bankers and it's technocrats -its self appointed guardians, are determined to save the euro project at all costs, even if this means abandoning the very principles of western liberal democracy in the process.Government is hard enough when the population is culturally and ethnically homogeneous, but Europe's people are culturally and ethnically diverse, with diverse histories and diverse economies. The European Union was the continent's first attempt to unify its warring tribes and nations by diplomatic, non imperialmeans, and the project appears a dismal failure. But instead of adjusting and evolving to meet reality, Europe's wise-men have decided to ignore the voice of the people, and muddle through this crisis with stubborn indecision.
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