RickHolland
October 23rd, 2010, 06:02 AM
Europe, too, is basically broke.
Nicolas Sarkozy's problems in France are a foretaste of fundamental challenges to Western democracies: the inability to govern with growing sovereign debt.
The problem is not new, but the radicalisation of protests in France is giving it new urgency. Over time, Western governments have accumulated financial obligations towards their electorates, which they can no longer serve.
RealClearWorld - Europe Spending Itself to Death (http://www.realclearworld.com/articles/2010/10/22/europe_spending_itself_to_death_99244.html)
11 Market Predictions for 2011
http://www.investorplace.com/20790/market-predictions-for-2011/
Nicolas Sarkozy's problems in France are a foretaste of fundamental challenges to Western democracies: the inability to govern with growing sovereign debt.
The problem is not new, but the radicalisation of protests in France is giving it new urgency. Over time, Western governments have accumulated financial obligations towards their electorates, which they can no longer serve.
RealClearWorld - Europe Spending Itself to Death (http://www.realclearworld.com/articles/2010/10/22/europe_spending_itself_to_death_99244.html)
11 Market Predictions for 2011
http://www.investorplace.com/20790/market-predictions-for-2011/