'Intelligent discontent is the mainspring of civilization.' -- Eugene V. Debs

Saturday, May 15, 2010

The Sub-Proletarianization of Europe (Part 2) 

An interesting article for what it reveals about the increasing economic stress now being experienced by the EU and the eurozone:

Nicolas Sarkozy threatened to abandon the euro unless Angela Merkel dropped her hostility to the EU's €750bn safety net for the single currency, sources in Brussels and European capitals said yesterday.

In a confrontation between Europe's two most powerful politicians, the French president said he would walk out of the talks and warned of lasting damage to the Franco-German relationship unless the German chancellor backed the plans.

It was a standup argument. He was shouting and bawling, said one official in Brussels. It was Sarkozy on steroids, said a European diplomat. He's always very energetic. This time he was very emotional, too. The French leader banged his fist on the table, according to yesterday's El País newspaper in Spain.

DeGaulle's departure from NATO in the 1960s made Sarkozy's threat a credible one.

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