7 May 2012   Leave a comment

Barely a day after the French and Greek elections, Germany rejected any ideas of renegotiating the fiscal pact governing budget deficits in the EU.  Angela Merkel has signaled her seriousness about austerity, but the cost to the EU could be great.  The only possible interpretation to the elections was that the publics involved believe that austerity is not the right path.  We’ll have to see whether Germany’s position is open to interpretation or some degree of flexibility.

Violence in Egypt is affecting the outcome of the upcoming elections, with voters seemingly more willing to support the military in the face of continues unrest.  The elections are still far off, so it’s impossible to predict the final outcome.  But the Islamist parties are becoming increasingly unpopular.

Vladimir Putin became Russian President for the third time as protests against his election continue.  His position is weaker than in his previous terms, but he seems quite willing to enforce his rule ruthlessly.  If oil prices continue to weaken in the face of the economic slowdown in the world, his positions may become even more precarious. however.

Posted May 8, 2012 by vferraro1971 in World Politics

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