The politics of the European Union is worth following. Can the leadership keep the union together?
The course of action pursued to date, has stronger countries bailing out troubled countries; this is essentially a welfare system. There seems to be some animosity building as a result of this policy. Germans are angry and don’t feel they should pay for the indiscretion of the Greeks. Angela Merkel is being cast as the bad guy by the southern countries. France is playing a mediator type role.
Given the relative strength of the Euro throughout the crisis, one would think that a likely scenario would be for the stronger countries to kick out the weaker ones. Interestingly, where does this leave France? Are they one of the strong countries as their recently affirmed AAA rating may suggest? This would suggest France is the good brother, champion of state welfare. But might they be taking on a leadership role, lobbying to keep the current system in place and encouraging the transfer of wealth? Are they head of the Pigs?
This leads to a 3rd scenario which popped out of the Op-ed pages of the Financial Times last night. Stronger countries may choose to secede from the union; and this scenario does not include France.
Read the opinion piece here: http://www.ft.com/intl/cms/s/0/6cf3e4f0-cf40-11e0-b6d4-00144feabdc0.html#axzz1WRYJzrGp