Tuesday, May 8, 2012

Perfectly Reasonable

So François Hollande won the French presidential election on Sunday, defeating incumbent Nicolas Sarkozy. At the same time, Greek voters turned on their ruling parties in their election. And suddenly the newspapers are filled with articles on how the election results would “revive” Europe's debt crisis.

The writers must know something I don’t because since when was Europe's debt crisis ever solved? I mean for something to be “revived”, it must first die right? Was Europe's debt crisis ever solved? Did anyone ever claim that Europe's debt crisis was dead and buried? If someone did, I must have missed it!

The stock markets might be reacting poorly to the election results but I for one do not fear them. I do not think the latest election results came in because of belt-tightening measures imposed in Europe. I think the results came in because belt-tightening measures imposed in Europe has not worked!

Voters are going against the ruling parties because the current ruling parties were unable to solve the debt crisis. There will be no “revival” of the debt crisis because it’s still around! Voters in Europe see that and so they decided to go another direction. It’s a perfectly reasonable reaction. If guys in “Group A” can’t solve your problem, you go to people in “Group B” right?

I can’t see what’s wrong with that. It’s not as if voters in Europe are chasing away guys who are solving the debt crisis. They are voting against guys who had their chance (over 2 years) and who had failed. If I’m a European, I’ll probably do the same

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