The Leaders tumble as Euro debt crisis spirals out of control
Friday 02 December 2011By Cristian Gherasim
Across an economically stressed Europe, leaders are changing pretty fast.
The euro- zone crisis is sweeping away the old faces, changing the political landscape at fast pace. Hopes now rest with a new echelon of technocrats, most of them high ranking ECB and Central Banks officials, to fend-off the ever-looming danger of an economic and, subsequently, political meltdown in Europe.
One by one, long-term political leaders fell. Brian Cowen, Ireland’s former PM, was the first in a long string of political victims forced to step down by the country’s dire economic situation. His Portuguese counterpart was quick to follow suit. The governments of Hungary, Denmark, Slovakia and Slovenia have fallen prey to the crisis as well.
Last week, the unfolding of this euro drama took an even sharper turn with Greece’s George Papandreou resigned only 48 hours before Berlusconi.
Though Berlusconi’s fall has been predicted for years, nobody expected Il Cavaliere to hand over the reins of power just yet. Where public discontent and political wrangling failed, the bond market succeeded. But Berlusconi’s tumble, one of the biggest victims of the eurozone crisis, is said to be a far cry from what keeping true to democratic procedures would impose.
The consummate survivor of scandals both political and sexual has effectively been forced out by the bond market not by Italian voters. Critics say it should be up to the people to vote leaders in and out rather than what they see as political change brought about and decided in Brussels. Greece’s Prime Minister, George Papandreou is gone, but ..........
To Read Cristian Gherasim's article in full in EU Reporter's digital magazine please visit
http://www.eureporter.co/magazine/201112/