Sarkozy of France contemplates import taxes! Merkozy's messy messages!!

In a New Year message the French President has suggested import taxes as offering a potential substitute for austerity. The average French citizen, having little grasp of the restrictions imposed by both the EU and the WTO, mpay console themselves briefly with that suggestion, but such false hopes would seem unlikely to survive until next May when the elections take place. More detail on the coming French elections is here.

Elections in Gerrmany follow next year, read here. Merkel's message for 2012 is reported here.

The Merkozy machine that has so far seen itself as guiding the EU response to the unfolding EU economic disaster, is thus losing its wheels, even before any clear course has been set. How long into this New Year will hats continue to be hung on closer economic governance being any kind of cure for the present crisis?