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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: biotech_bull who wrote (92257)	10/28/2008 11:30:13 AM
From: thames_sider	Read Replies (1) \| Respond to of 541583

I think this will only be transitory for them. There will be pain in a few countries which adopted risky models but I don't believe this will last long. The only country likely to really have problems is Hungary, which hasn't really reformed and has a lot of personal debt secured in foreign-currency loans, so individuals are going to to be directly hit. I saw some danger that they aspire to Western living standards without having built the support infrastructures, but now these are coming into play. But old-style socialism just isn't popular for the most part, and its remaining supporters are aging: social democraticism IMO is more likely to absorb the left, on the German model (hardly a bad one to follow overall!). It doesn't do to underestimate how extremely attractive the model of the EU is, not just for economic terms but because it's kept Europe peaceful and stable for a historically significant period, and the freedom of movement I believe will really weaken any attempts at demagoguery because people can directly and easily see the alternatives.