Trouble is brewing in the euro paradise
The rise of nationalism and populism across Europe poses a threat to the area’s economic market
Two events last week have brought the risk of a political populism revival back onto the front pages of the European press. One: the Italian political establishment finally surrendered to the prospect of the two nationalist parties, left and right, the Five Star Movement and the League, forming a ruling coalition. Two: months after the move to direct rule from Madrid, the Spanish region of Catalonia finally got a new regional government, once again led by a pro-independence president. Both developments underscore a simple and troubling fact: the tide of Euroscepticism, nationalism and populism, the product of economic crises, remains a threat to the eurozone’s economic and financial stability, and the future of its reforms.
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