Posted Sep 24, 2013 by Martin Armstrong
The tragic saga of Europe is that Merkel’s victory means no change for Europe. The September elections may have surprisingly given Merkel’s party a near majority, but the likelihood of any real reform in Europe is now zero. We will see the slow and gradual decline and that is a sad state of affairs.
There are still some significant obstacles in Europe from the banking sector, not to mention the anemic pace of economic growth. While Germany, the region’s largest economic player reelected Merkel for a third term as Chancellor, the benefits are indeed fleeting. Many people fear change. But that is precisely what is necessary.of this embrace of stability appear to be fleeting or fully digested.
We see no positive change in trend for Europe. What lies ahead is still more of the same.