Eurozone at risk from anti-austerity revolt

The Telegraph
By Bruno Waterfield

The crisis meeting in two weeks comes as François Hollande, the newly elected Socialist French president, demands a change to the EU's economic policies, with a shift from austerity to growth.

The demand has pitted him firmly against Angela Merkel, the German chancellor, who is fighting to defend eurozone rules on cutting spending, but who is also coming under pressure from other European countries to relent. That pressure increased yesterday after local elections in Italy resulted in big gains for anti-austerity parties, including 20 per cent of the vote for a new movement led by Beppe Grillo, a popular comedian, who calls for Italy to leave the euro.

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