Monday, May 7, 2012

Debt and currency crisis punish Europe's leaders

by Ian Traynor

Guardian

May 7, 2012

For Europe's elected political leaders, the debt and currency crisis has taken an extraordinarily heavy toll. Of 17 governments in the eurozone using the single currency, 10 have been drummed out of office in little more than a year, more often than not directly because of the crisis.

The mass voter rebellion against incumbents began in February last year as bailout candidate Ireland went to the polls. Fianna Fáil's hapless Brian Cowen quit before his party suffered the worst ever defeat of an Irish government and he was replaced by Fine Gael's Enda Kenny.

The voters' insurrection affected both those countries in financial meltdown and those having to stump up to bail them out and save the euro. Finns bristled at having to help what they saw as feckless foreigners, kicking out the Kiviniemi government in April last year and bringing in a new coalition.

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