If You Think Europe Was Bad Last Year, Just Wait...

By SIMON CONSTABLE

If you think things were messy in Europe in 2011, then just wait for this year. I`ve been talking about the euro`s crisis for three years, but I expect the fourth year to be the most explosive. Here`s why — a battle has been set up between European government elites, who want to keep the single European currency and the European taxpayers, who are being asked to endure financial hardship in order to keep the currency. Those taxpayers, those people lucky enough to have jobs, aren`t that happy about those hardships.

Nevertheless, the elected and unelected elites of Europe seem hell- bent on forcing the euro and the austerity upon their people. In 2011, we saw Greece burn due to those cutbacks. The elites see the euro as a way to make Europe more like America, with its single currency, the dollar. They do have a point — single currencies have huge economic advantages. But in democracies, we are governed by consent and there`s the problem — that consent is being tested, more so this year, likely because Europe will fall into a deep recession with even more pain. My worry — it won`t be just Greece that burns, but instead the entire Eurozone. I hope I`m wrong.



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