Epstein Secrets

. Italian voters rejected both Europe's main response to high government debt — cut spending, raise taxes — and a major rebuke to German Chancellor Angela Merkel, who was the main architect of the austerity policies. The resentment of austerity is no mystery. The Italian economy has contracted for six consecu

— and a major rebuke to German Chancellor Angela Merkel, who was the main architect of the austerity poli

tabilize not just EFTA00692522 Italy but Europe as a whole. But remember, Italy isn't unique: disreputable politicians are on the rise all across Southern Europe. And the reason this is happening is that respectable Europeans won't admit that the policies they have imposed on debtors are a disastrous failure.

icia Menendez-Cambo Peter Mensing Luca de Meo Angela Merkel Paolo Merloni Nikhil Meswani Mette-Marit of N

enendez-Cambo Peter Mensing Luca de Meo Angela Merkel Paolo Merloni Nikhil Meswani Mette-Marit of N

ior Managing Director Chairman Group Executive Vice-President, Human Resources and Synergies President and Chief Executive Officer Bureau Chief, Southern Europe Minister of Mining of Mongolia Columnist Chairman and Chief Executive Officer President and Chief Executive Officer, CAF - Development Bank of L

% el Mild LUMBICOldlialeri c Fa Z •% el World Merkel Ceiatilitedion To further highlight the point, w

n foreign funding. We believe the European periphery will experience painful deflation and sovereign and private defaults. The crisis in Eastern and Southern Europe is ahead of us, not behind. > Government bonds are the only obvious existing bubble — We have highlighted many countries that are ripe for asset b

“run-of-the-mill” terrible instead of “look-out-for-that-bank/country- it’s-about-to-default” terrible. What is impossible to assess: the ability of Southern Europe to withstand rising social and political pressures of massive unemployment. Also: watch out for France, where there is a large, growing economic gap

into renewable energy? In the wake of Fukushima, Chancellor Merkel announced a plan to accelerate the closure of coa

countries are planning for Independence Day Il; Is Germany making an impetuous mad dash into renewable energy? In the wake of Fukushima, Chancellor Merkel announced a plan to accelerate the closure of coal and nuclear power plants, with the goal of relying more on renewable energy to fill the gap. Germa