In Ireland, anger over economic mismanagement and the bailout of the banks is proving a boon to the hard left, which has benefitted from public anger over the blank-check bailout of the banks that ultimately bankrupted the Irish state.
The Irish Independent has a breakdown of the political tea leaves right now:
THE spectre of a Labour and Sinn Fein-led government, with the support of independent socialist TDs, is now uncomfortably close to reality, according to the latest analysis of voting intentions.
The formation of such a left/hard-left government — which is now predicted to win up to 87 seats — is emerging from a deepening sense of anger, frustration and alienation among the electorate, particularly since the EU-IMF bailout deal.
Sinn Feinn — which has advocated a default on Ireland’s debt — currently holds just 5 of the 166 seats in the Dáil Éireann.
The Irish Examiner has some more perspective on the political unpopularity of the ruling Fianna Fáil party. Taoiseach Brian Cowen’s personal approval rating is down to 8%, and his party is down to just 13%, below that of Sinn Fein.
The bottom line is this: Regardless of what deal gets struck now between Ireland, the EU, and the IMF, the rest of Europe can expect a new Irish leadership early next year that will be far less receptive to the yoke of foreign debt.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.