January 25, 2009
With the world economy tumbling ever deeper into the economic abyss, it is exceedingly hard to find a single positive aspect of the crisis. Given the speed and momentum the downturn has reached, no sector of the economy seems immune to the fall-out of the contraction. Orders are being cancelled everywhere and business is down from manufacturing to services.
However, in politics, things are not that straightforward. Even if a country fares badly, its politicians may thrive. If those in power react to a crisis in a manner considered adequate by the public, a crisis might even help them to stay in power or to improve their international standing. In contrast, mismanaging a crisis can push a politician into oblivion.
The current crisis has thus altered the political opportunities of politicians and governments all across Europe. In a new series, Eurozone Watch is presenting the most important upcomers and fallen angels. It will investigate the individuals and political projects that have suffered a set-back or received a foot-up thanks to the current crisis.