Europe’s political centre is starting to crumble, replicating the pattern of the early 1930s as the crisis ground into its third year under a similar mix of fiscal and monetary contraction.
Elected governments have already been swept away – or replaced by EU technocrats without a vote, indeed to prevent a vote – in every eurozone state where unemployment has reached double-digits: Spain (23.6pc), Greece (21pc), Portugal (15pc), Ireland (14.7pc) and Slovakia (14pc).
The political carnage has been striking. Ireland’s Fianna Fail, creator of the Irish free state, has lost every seat in Dublin. Greece’s Panhellenic Socialist Movement (PASOK) – torch-bearers of Greek democracy since the Colonels – has fallen to 14pc in the polls and faces ruin next month.
This week the tornado has smashed into the core, bringing down Holland’s govenment and probably the French leader Nicolas Sarkozy as well in a cacophany of anti-EU diatribes.
Britain must find £900m in additional EU payments
German Chancellor Angela Merkel defends austerity in face of open rebellion in Europe
Over 50s will be forced to work 11 years longer to get a decent pension
Greek economy is likely to contract beyond forecasts
‘Berlin Is Running Out of Allies in Euro Crisis’
12:02 pm EDT, April 25th, 2012 — From Holland to Hollande, the answer is ‘No’ to Brussels
12:03 pm EDT, April 25th, 2012 – Germany helps steady markets by defending cuts amid fears of French Socialist’s victory
12:04 pm EDT, April 25th, 2012 — UK sinks into double-dip recession
12:05 pm EDT, April 25th, 2012 — The Chancellor must ignore this double-dip recession
12:06 pm EDT, April 25th, 2012 — George Osborne’s growth plan has self-evidently failed
12:07 pm EDT, April 25th, 2012 — UK’s weakest recovery in 100 years
12:08 pm EDT, April 25th, 2012 — Employers can force retirement if in ‘public interest’
12:09 pm EDT, April 25th, 2012 — Opinion: Crisis topples governments like dominos
12:10 pm EDT, April 25th, 2012 — UK economy is stuck (video)
12:11 pm EDT, April 25th, 2012 — Debt crisis: live