There never seems to be a shortage of “turning points” when it comes to Europe and its future. On Monday, European stocks took a hit. Markets on the continent were jittery once again on renewed fears of Greece being unable to meet its debt obligations unless, of course, France and Germany did more.
Which is where the problem lies: As in the US, domestic politics comes in the way of decisions that can affect the future of Europe.
In Germany, chancellor Angela Merkel’s party, the Christian Democratic Union, has suffered electoral setbacks that make any decisions on bailing out weaker European economies difficult.
Any step, either way, is bound to be tough; one involves short-term survival and the other the future of the continent itself. It will be interesting to see what choice is made and for what reasons.