As expected, Europe got the election results anticipated. Greece's was an obvious outcome, with much of the electorate subject to horrendous reductions in their living standards, not all of them necessarily having taken advantage of the previous 'out of control' system. As ever, the responsible ones have to pick up the tab.
France on the other hand, has voted to follow the Greek pattern, spending money that does not exist. Stupid of course, but typical of socialist politicians, who will promise anything to attract votes. Any economy, be it domestic or national can only survive by keeping its debt to the minimum. France has operated in a credit bubble since the mid-seventies. The theory creating one stimulus after another doesn't work, if it did it would now be a very wealthy nation.
The Euro will now come under the severest pressure, which will be much to the chagrin of Angela Merkel. Ultimately, this will see a change in the membership of the Euro Club, which could collapse completely. Whatever the outcome, it needs to be resolved swiftly. It is this very type of problem that brings about dissension between nation states which, in this case, was self inflicted. The single currency was bound to fail. It was brought about to force nations to become as one politically. The fact that it couldn't work financially was considered irrelevant.
WHEN IT HAPPENS, THE FALL-OUT WON'T BE PRETTY.
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