“An Outrageous Prediction” By Saxo Bank
Opinion (Steen Jakobsen, Chief Economist & CIO, Saxo Bank): “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. …
“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. … Is it time for change now? I doubt it, but this is a step in the right direction, and it proves, once again, that to create a mandate for change you need to see a serious crisis.”
My Comment: If Europe does not understand its only remedy—integral education—it will split not only into states, but even into smaller formations to match the ego.
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