Shifting fortunes: “The Zeitgeist has changed”

Indeed it has. 

Politically, and economically.

Over the past three decades, states that privatized alongside the Chicago school doctrine, and doggedly pursued market solutions, particularly ones in the west, such as the US, UK, and Iceland, have experienced the most violent internal convulsions.

That’s no news.

But countries that resisted the so-called Anglo-Saxon model are now smug and ready to regulate.  Within the EU, this means one thing:

[T]he French and the Germans are in the ascendancy in Europe, while the British influence is fading.

[The British] fear France and Germany are out for revenge, leading to a flood of new Europe-wide regulation aimed at preventing a future crisis that will drive banks out of the City of London and overwhelm UK businesses with red tape.

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