Imagine you had been told five years ago that a huge economic crisis would erupt, prominently featuring irresponsible financiers, and that governments would come to the rescue of firms and families. You would probably have predicted that, politically, the right (the party of bankers) would do badly and the left (the party of bureaucrats) would do well. You would have been wrong. It's not just the Republicans who came out ahead. Last month a conservative coalition swept into power in Germany. In France, Nicolas Sarkozy's party has considerable public support. In Britain, conservatives are poised to win their first national election in 17 years. Even in Denmark and Sweden, where social democrats usually win, the right is in power. In fact, across continental Europe, only one major country, Spain, has a left-wing ruling party.
Why? Part of the answer is that despite the economic turmoil, few people seriously believe the answer is a turn to socialism.
Fareed Zakaria
PS: Portugal, com o seu proverbial atraso, ainda vive no 8 de Novembro.
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