Europe: Things fall apart
Europe: Things fall apart Dutch PM Mark Rutte (standing, right) failed to get a coalition deal on budget targets The eurozone crisis is not just back. It has returned in a much more dangerous form. This time the questions are more fundamental. The doubts about the whole austerity strategy - made in Germany and policed by EU officials - are openly expressed. The French elections lay bare the fault lines. If the Socialist candidate Francois Hollande wins he will not just be the first victor from the Left in France in 17 years. He has put down a marker - that he will challenge German leadership of the debt crisis. Mr Hollande believes that austerity first is destroying parts of Europe. Yes, deficits have to be cut, but his priority will be growth. He has pitched his statements not just to the French people but to the rest of Europe. He wants to reorientate Europe on a path of growth and employment. It was not a surprise that yesterday Angela Merk...