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May 7, 2012

France, Greece and the End of the Euro

Jeremy Warner, Daily Telegraph

AP Photo

In France, and in Greece, the anti-austerity backlash has achieved a double victory this weekend, bringing closer the point at which the euro breaks asunder.

Continued German support for the single currency relies on acceptance of the austerity imposed by the fiscal compact. Both France and Greece have now resoundingly rejected the old political consensus, making the future of the single currency more uncertain than ever.

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TAGGED: France, Germany, Greece, Euro, Francois Hollande, austerity

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