Economics
The Death of European Anti-Austerity Says a Lot About Austerity
‘In the end we had to make a shift toward maturity and realism.’
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The great European revolt against austerity is already withering.
Nine months after Alexis Tsipras and his Syriza party surged to power in Greece promising to overturn Europe’s economic order, the radicals look a shadow of their former selves. Across the continent, voters alarmed by the prospect of chaos are returning to the devil they know. Greece’s election this weekend is too close to call and ballots in Portugal and Spain in coming months are unlikely to challenge the German-led budget-cutting regime.