Spendthrift European governments are suddenly running smack into a fiscal wall of their devising and are flailing madly.
It’s budget time, with a touch of panic for those in power from Frankfurt to London and darn near everywhere in between.
Contentious budget plans are wreaking political havoc across Europe
- It seems that the ramifications of a perceived “bad budget” are causing political casualties in a way that Europe will need to come to terms with for the foreseeable future.
- In the euro zone, post-pandemic fiscal rules are putting pressure on even the most hawkish EU members.
I’ve written quite a few pieces on the self-inflicted pain that is the German economy, so you all know the score there right now. Headed for a special election in February thanks to a scheduled ‘no-confidence’ vote next month that Chancellor Olaf Scholz is widely expected to lose,…
