French, Dutch Politics Rumble European Markets-NYTimes
"Europe’s financial markets showed the strain early Monday after a run of unsettling political news over the weekend from France and the Netherlands raised uncertainties over the commitment of core euro-zone countries to fiscal discipline as austerity policies are weighing on the region’s economies." (http://blogs.wsj.com/eurocrisis/2012/04/23/dutch-french-politics-rumble-european-markets/?mod=google_news_blog)
So what has happened? Basically, President Nicolas Sarkozy lost the first round voting to a socialist and in the Netherlands, budget talks concerning austerity measure collapsed. The French and Dutch are saying NO to austerity-job cuts, tax hikes and appeasing markets-and Yes to jobs and growth. A key quote from De Jager:
"For me it is important, as a message to financial markets, that no matter the circumstances, the Netherlands will continue to strive for budgetary discipline."
And then we have this morning's top Huffington Post story about Mitt Romney:
MORE FOR WAR,
CUTS FOR THE POOR
So do you see what's happening? Europe is discovering that "Market Appeasement" policies have been a disaster and a nightmare. Just nod if you can hear me!
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