Opinion (Steen Jakobsen, Chief Economist and CIO, Saxo Bank): “We have been surprised how little impact the strikes on the streets of Greece, Portugal and Spain have had on policymakers. But this is finally changing: Eurogroup considers direct transfers to Greece.
Policy makers are finally realising that social tension can overtake much needed reforms and financing needs by virtue of rallying the voters. Note that the groups of people demonstrating across Europe are no longer just unions or public employees. This is now a national issue for many countries. One generation of youth has already been lost, with all the negative consequences expected for productivity, innovation and pure outlook on life. …
“What comes next is one of two things: Radicalisation – Fascism & Communism?
“IF – the policy makers ignore this call for ‘change’, then the voters will be radicalised, moving to the extreme left and right politically. We are considering having an Outrageous Prediction for 2013 that include a serious move back to Communism in Eastern Europe and towards more autocratic states in Southern Europe. …
“In times of crisis people go to extremes – and this is now a full blown crisis, as we have a banking, economic, political and social crisis in place. It can’t get much worse actually, which is probably a good thing.”
My Comment: But is it possible to cause the necessary need for change not by suffering, not by crisis, but by increasing awareness of the need for change long before it manifests itself, according to the rule “The wise see beforehand.” The wisdom of Kabbalah encourages this by offering the method of how to change man and society long before nature forces us to do so by suffering.