Storm clouds gather over Europe

For the second time in living memory politicians across Europe are fidgeting dangerously in their respective quarters.  In the past couple of weeks the political rhetoric between the big beasts of the EU like France, Germany, Spain and even the United Kingdom have become noticeably and diplomatically noisy, even deafening.

The rise of nationalism in some European states and a tough broader socialism in others form part of a new unstable dawn across the continent.  On all sides in all nations the ordinary family are being squeezed so tightly, the pain for some is truly excruciating. Everyone is crying out for stability and a little financial breather.

Medium to severe panic buttons are already being depressed in some countries whilst other nations are standing back waiting for the next fast-moving chapter to reveal itself to a nervous Europe and a curious world.

I think it is highly likely now that Greece will leave the Eurozone in favour of the drachma.  How exactly Eurozone members will cope and what the fiscal fallout of this will be could be anybody’s guess, but one thing so sure it won’t be good news in the corridors of Berlin, Paris, Madrid or even London.

The boss of the world’s largest foreign currency dealer ICAP has revealed it is ready to trade in drachma as it prepares for Greece’s exit from the Eurozone, according to the Daily Mail.

Meanwhile British Conservative Party donor Michael Spencer has warned that other countries could follow Greece out of the euro. He has launched an outspoken attack on what he calls German and French ‘bullies’.

And what of the ordinary man in the street?  How much more pressure?

How far will this crisis go?

And for the political stability of Europe?  If the storm clouds break is it so far-fetched that history will repeat itself 73 years on?

Ian Waugh