The European Farce

Niall Ferguson, Newsweek
With the sap rising and the governments falling, all the European powers are merrily acting in national character.In the midst of a severe financial crisis, the French have just elected a champagne socialist on promises of a 75 percent top tax rate and a lower retirement age. The Greeks also had an election in which the established parties lost to a ragbag of splinter groups. The outcome of the election was that they need to have another election. (Cue Zorba the Greek theme music.)

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