UK GOVERNMENT OVERTURNED, FRANCE FUTURE UNCERTAIN
JUST THE BEGINNING OF THE CHAOS
The conservative government in the Uk has been decimated in this weeks elections. They have lost overwhelmingly and will be replaced by the Labour party. It was more of a vote against the present government than an endorsement of the labour party. They may very well find that they really do not have a mandate for more social spending and higher taxes.
In France, the best than can be said is that their parliamentary elections have split the government with no majority for anyone, not even close. Any coalition may very well be short lived and the country may be in a frozen state for some time.
At the same time Viktor Orban of Hungary, the now chairman of the European council for the next six months is wasting no time in pushing for a peace settlement of the Ukraine conflict. He immediately traveled to Ukraine, then Russia and then China. Orban believes the economic future of all of Europe will decline until this dispute is settled.
Orban has also created a new group within the EU called the "Patriots for Europe" it first comprised of Hungary, Austria and Slovakia, it has now added groups from Spain, Belgium, Portugal, Netherlands and Czech republic. It now has enough Mp's to receive funding and certain ability to have influence in decision making.
European governments will have a difficult time ahead, as their economies decline, inflation persists and many desire to dramatically increase defense spending, something that is impossible without austerity in other places.
The U.S. elections are also being watched very close for a clue as to direction of the U.S. government.
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