Tuesday afternoon was dominated by anticipation of Apple’s earnings, but prior to that the buzz was all about the change of scenery in Europe.As we wrote this morning, the bad news for Angela Merkel is that the jig is up: There’s almost nobody left who is willing to go along with the German idea that the sole solution for Europe is spending discipline and “reform,” whatever that means.
That was a riff on a piece by Nicholas Kulish in the New York Times, talking about the growing anti-austerity drumbeat in places like France and the Netherlands, which comes on top of.
Ryan McCarthy at Reuters also rounds up a bunch of other anti-austerity commentary from around the web.
When you combine it with the latest note from Richard Koo, about how the Nomura economist went to Europe, and even was able to convince Germans (!) that fiscal stimulus was needed in Europe, you sense that something really is changing.
There’s not a new consensus settled on yet. For example, Francois Hollande’s vision of a more socially integrated Europe is obviously different than whatever caused Geert Wilders to torpedo the Netherland’s austerity deal, but Germany is clearly becoming very isolated.
SEE ALSO: Sorry Angela, the jig is up >