2015-01-15financialsense.com

`` To a large extent, prosperity was the glue holding the European Union together. During good times, when most people have a job and children are convinced that they will have a better life than their parents, the idea of giving up national sovereignty to supranational institutions is easier to accept. But prosperity is no longer a certainty, and many in Europe are beginning to have second thoughts about the benefits of the European project. The economic decline is also leading to a crisis of representation; a growing number of citizens no longer feel represented by mainstream political parties, unions and other traditional institutions.... It is not a coincidence that the Pegida protests emerged in Saxony -- one of the German states with the lowest rates of immigration but with some of the highest rates of unemployment. Ethnically and linguistically cohesive areas tend to be less tolerant of people with a different cultural background''



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