Tuesday, September 29, 2009

Europe’s Socialists Suffering--Even in Downturn

From the New York Times:
PARIS — A specter is haunting Europe — the specter of Socialism’s slow collapse.

Kai Pfaffenbach/Reuters

Even in the midst of one of the greatest challenges to capitalism in 75 years, involving a breakdown of the financial system due to “irrational exuberance,” greed and the weakness of regulatory systems, European Socialist parties and their left-wing cousins have not found a compelling response, let alone taken advantage of the right’s failures.

German voters clobbered the Social Democratic Party on Sunday, giving it only 23 percent of the vote, its worst performance since World War II. . . .


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