Recommended: Europe, Unemployment and Instability

George Freidman of STRATFOR has another good posting on the STRATFOR site: Europe, Unemployment and Instability. Well worth reading.

His argument is complex, centering on Germany's dominant position in the Euro zone, and it's dependence on an export economy, to the detriment of many of its neighbors. But the central idea is that the continuing high unemployment throughout Europe, created in part by the austerity programs put in place to prevent default on sovereign debt, are building a breeding ground for extremist political movements, which may ultimately lead to a wave of political instability of the form we are already seeing in Italy this month.