Merry Christmas and a Happy New Year

There has been snow coming for two days although not in too large volumes. In all probability there will be a white Christmas. This will be my last post for this year, a year that has been on the whole a good one, as years go by these days.

The large problem here in Europe was the debt crisis obviously. It came a little as a shock for most people that countries starts to risk going bankupt. Someone said that to understand what is happening in Europe these days one should study history. I wonder if this is correct. The situation seems to be quite unique as the world develops right now. Sweden seems to be more and more affected by international events as the interest in national affairs seems to decrease, unfortunately.

Michael Mandelbaum called the times before the financial crisis for a déjà vu of the Woodrow Wilson era with peace, democracy and free markets. Francis Fukuyama's "end of history" now, however, seems to have ended already. I have followed the discussion on the European crisis in The Financial Times this fall and no solution is yet to be found. Frau Nein vetoed the latest suggestions of eurobonds. Fiscal union or not? We shall see.

In the US president Obama has seen some victories now in time for Christmas. Even Afghanistan does not look hopeless any longer. I hope something positive will eventually come out of this endeavor. Christmas is the season of hope even for a Religious Humanist so I wish for the best.

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