Massive financial contractions were the major reason for Europe's world wars. So now, as Central Bankers use their own magical formulae of wealth to impoverish too many of their fellow citizens, add in the "refugee problem" that is both a result of purposely ignited war flames and global climate destabilization, and a dangerous political recipe is in place:
"Italy and Spain are microcosms for the rest of Europe. The EU’s own south — Italy, Portugal, Spain, Greece, Cyprus, and Bulgaria — are characterized by high unemployment, deeply stressed economies, and falling standards of living. While the bigger norther economies of France, the United Kingdom, the Netherlands, and Germany are hardly booming — the EU growth rate over all is a modest 1.6 percent — they’re in better shape than their southern neighbors."
It is inordinately difficult to BE generous when one's own rent is insecure, nor is there any guarantee of food on the table.
This insecurity can be easily whipped up into jingoistic frenzies. And right wing "leaders" have a dark gift for doing just that. The millions of desperate souls fleeing Yemen, Iraq, Syria, and other inflamed "ports of call" make for perfect targets to those sociopathic zealots who always manage to find their niches during disastrous times. And the Shock Doctrine disaster capitalism devotees have worked overtime to spread disaster, depravity, and despair.
Like the forests of the American northwest, all that's needed to spread old flames of hatred are a few sparks... acting as strategic triggers.
Excellent and fair-minded analysis, Mr. Hallinan... but don't forget that TROIKA has its bankster equivalent on this side of the Atlantic and both are working cahoots to set up the same system:
"And while the troika has enormous power, it’s finding it increasingly difficult to rule over Europe’s 500 million people — a growing number of whom want a say in their lives."