Europe's Economic Crisis Prediction: High unemployment rates will deepen the social and political consequences of the crisis as economic turmoil spreads northward on the Continent. Although extremist or anti-establishment parties will gain influence over the political debate, they will not be strong enough to take power in any eurozone country and the traditional elites will manage to stay in charge in 2013. Click to Enlarge Evaluation: Our forecast that the European Central Bank would have the tools to prevent a widespread financial panic in 2013 proved correct, and the traditional political elite managed to stay in power. However, rising unemployment weakened support for the political establishment, while extremist, Euroskeptical and anti-establishment parties gained popularity and increasingly influenced the political debate. We also correctly forecast the spread of the crisis to the north, with core countries such as France and the Netherlands coping with the political and so...
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