Sunday, February 15, 2009

Revolt is in the air
The worst economic crisis since the Great Depression is throwing countries across Europe into turmoil--and spurring struggles unseen in years. Eric Ruder looks at what the future may hold.

THE FINANCIAL turmoil that began in the summer of 2007 in the U.S. is spreading around the globe with frightening speed and devastating consequences for working people. The bursting of the bubble in the U.S. housing market in the summer of 2007 was the catalyst for full-blown economic crisis in country after country in Europe.

Now, the economic disaster is sparking mass protest and revolt on a scale not seen in two decades. Britain's Guardian newspaper described the new political reality in a January 31 article titled "Governments across Europe tremble as angry people take to the streets." It begins:

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