1. uncle tom said...

What is becoming increasingly apparent, is that while no country in europe is to escape this financial upset, every country will be impacted in different ways - especially within the eurozone.

It is therefore very hard to predict quite how this will pan out. However, nationalist sentiment, especially in Italy and France, is never far from the surface.

The temptation to wave the flag, make stirring speeches about the need to look after the mother country first, blame other countries for their woes - and then re-denominate sovereign debt, pensions and state salaries in a restored local currency - might become very great...