The world's economic troubles have an eerily familiar deja vue quality of Paul Erdman's novels on international finance. Around that same era in the early 80's there was a book, the title of which escapes me at the moment, that predicted class wars around the world, with the uprising of each country's economically depressed rising up against their governments. About the only thing that has not yet happened as predicted in that genre of books at the time is the explosion of a nuclear bomb by one of the oil-rich nations on their own oil fields to prevent the invading countries from being able to get near them.
Today, the Guardian has a similar story ...
Governments across Europe tremble as angry people take to the streets
France paralysed by a wave of strike action, the boulevards of Paris resembling a debris-strewn battleﬁeld. The Hungarian currency sinks to its lowest level ever against the euro, as the unemployment ﬁgure rises. Greek farmers block the road into Bulgaria in protest at low prices for their produce. New ﬁgures from the biggest bank in the Baltic show that the three post-Soviet states there face the biggest recessions in Europe.
It's a snapshot of a single day " yesterday " in a Europe sinking into the bleakest of times. But while the outlook may be dark in the big wealthy democracies of western Europe, it is in the young, poor, vulnerable states of central and eastern Europe that the trauma of crash, slump and meltdown looks graver.
Exactly 20 years ago, in serial revolutionary rejoicing, they ditched communism to put their faith in a capitalism now in crisis and by which they feel betrayed. The result has been the biggest protests across the former communist bloc since the days of people power.
Europe's time of troubles is gathering depth and scale. Governments are trembling. Revolt is in the air.
One of the European countries, whose economy, poltics etc was praised all over the world ...
Proud of its status as one of the world's most developed, most productive and most equal societies, Iceland is in the throes of what is, by its staid standards, a revolution.
Riot police in Reykjavik, the coolest of capitals. Building bonfires in front of the world's oldest parliament. The yoghurt flying at the free market men who have run the country for decades and brought it to its knees.
An openly gay prime minister takes over today as head of a caretaker government. The neocon right has been ditched. The hard left Greens are, at least for the moment, the most popular party in the small Arctic state with a population the size of Bradford.
The IMF's bailout teams have moved in with $11bn. The national currency, the krona, appears to be finished. Iceland is a test case of how one of the most successful societies on the globe suddenly failed.
Source: see above.