Source: The Patriot Light | AWK Network | VIEW ORIGINAL POST ==>
Spendthrift European governments are suddenly running smack into a fiscal wall of their devising and are flailing madly.
It’s budget time, with a touch of panic for those in power from Frankfurt to London and darn near everywhere in between.
Contentious budget plans are wreaking political havoc across Europe
- It seems that the ramifications of a perceived “bad budget” are causing political casualties in a way that Europe will need to come to terms with for the foreseeable future.
- In the euro zone, post-pandemic fiscal rules are putting pressure on even the most hawkish EU members.
I’ve written quite a few pieces on the self-inflicted pain that is the German economy, so you all know the score there right now. Headed for a special election in February thanks to a scheduled ‘no-confidence’ vote next month that Chancellor Olaf Scholz is widely expected to lose, the German upheaval is primarily a result of arrogant insistence on an unhindered march to unready, unreliable renewable energy sources. It has literally crippled their economy by burying the government, households and industries under unsustainable levels of debt.
There have also been questionable…
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