European Disunion, Part II: Anti-Austerity Strikes Back

The Euro Zone experiment is under fire. The weaknesses of the currency union were exposed in the wake of the financial crisis. And although policy makers have had the years since to devise practical and effective solutions to the many flaws plaguing the Euro Zone, they dithered under the delusion that the measured steps and patchwork solutions to the crises that presented themselves along the way were sufficient to tie the Union over until a sustainable growth trajectory finally returned. But such growth has yet to materialize, and debt levels have now ballooned to the point where the return of such robust growth is becoming unlikely. Perhaps more importantly, many Euro Zone participants that have fared worst in the aftermath of the crisis are increasingly agitating for either relief or change. The potential for social unrest is growing and the anti-austerity movement is on the rise across the region. And in the wake of the Greece debacle, the latest template for how to strike against the European creditors has now been formed.

Please click on the link to read more of my article on Seeking Alpha.

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