European Stock Drop Reflects Global Economic Worries - WSJ.com
Ah but the 'right' thing is exactly the opposite for major parts of the population.
Those with jobs like all the protections - even if it means few new jobs are created and their own jobs are increasingly at risk.
Others see the need for growth and that it will take regulatory changes and tax changes to support growth.
These are opposite points of view.
As in the US, with roughly half of the people paying no income taxes, raising taxes on the rich is very appealing.
Meanwhile, those with capital realize it doesn't pay to take any risks with it so jobs are both not created and moved offshore.
People who currently rely on government will have to rely less or the economy will slowly decay. Is there anyone with the political will to take this on anywhere? You are right that none appear to be there. And, the public in most countries doesn't see the necessity of doing anything. They believe an unstable economic situation isn't really unstable and that by borrowing and taxing somehow jobs will eventually be created and benefits won't need to be cut.
This is truly 'la-la-land'. (See yesterday's Los Angeles Times article on how those on the right and left, while broadly unhappy with the economy, want only 'their solution' to be used. And, on the left, it is more of what has gotten the economy into its current quagmire of decline and stagnation.
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