The British government is almost alone among big EU countries to take a heavy hit. Nor is it a simple sweep to the right: Merkel and Sarkozy won by taking more radical social democratic action than Brown did, by nationalising the banks, with higher social protection for the unemployed and more state intervention, squeezing parties on their left by turning leftwards.
Not sure that I\’d call nationalising the banks \”social democratic\” really.
But what interests me more is that, umm, is there any evidence for this? I\’ve been rather heads down for the last few months and so I might have missed it. But have either of them nationalised the banks in any manner more than we have here? Pumping money into those going bust, purchasing shares etc?