National Leaders Letting Rookies Take the Show

by Ryan Johnson

America just recently had its routine election, but still we have switched from one approach to the global economic crisis to another. Thankfully this switch was not done out of desperate measures, but several countries in the EU can't say the same. 

As I mentioned last week, Iceland was the first to throw in the towel and appoint new leadership for a suffering country. Now Germany has followed with the resignation of its economy minister Michael Glos. Chancellor Angela Merkel says that this was a "political headache" and was upset that the country's economic controllers were being reevaluated in the midst of an economic crisis.

Several countries in the EU have different takes on how to go about fixing the global economy and their own, be it tax cuts or ambitious stimulus packages. Some countries are pushing for trade barriers, in order to protect jobs within the country. The Czech presidency strongly believes that these barriers need to be kept away simply for the survival of many European economies, and is consequently asking for an emergency meeting with many EU leaders at the end of the month. 

Israel seems to be another prime candidate for resignation based on its economy alone. Obama points out that it was not America who dug Israel's economic trench, but rather Israel for all their tax cuts and capping deficits, etc, their crisis would "not be so painful."

Sources:
http://www.google.com/hostednews/afp/article/ALeqM5i7g0Y-QKGjRbpkswv_J-omrPj7uA
http://www.monstersandcritics.com/news/europe/news/article_1458396.php/EUs_Czech_presidency_considering_extra_economic_crisis_summit_
http://www.marketwatch.com/news/story/In-Tuesday-election-Israeli-voters/story.aspx?guid=%7B3EBA4783-FA4E-4660-B777-9DD1A3F4E1AE%7D