Electoral shifts raise risk of European tipping point

Tipping point?


My early years as an economic forecaster have made me sceptical about the ability of anyone, especially myself, to predict the timing of political tipping points. That said, structural pressures sometimes build so rapidly that it becomes foolhardy to ignore completely the possibility of a rapid, historic change. Recent events in Europe meet this condition.

In early May, France aligned itself with the southern tier of the eurozone by declaring the dogma of budget austerity was coming to an end –

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