Beyond Euro Break-Up Fears: The New Calculus for Investors

I’ve followed European politics long enough to remember when even the faintest rumor of right wing populists gaining ground could spark panic among investors. Now, I find myself watching the very same groups command increasing power, with market participants reacting in a near-calm. This pivot in sentiment isn’t just a passing anomaly—it signals a deeper shift in how investors perceive both the stability of the euro and the policy implications of populist governance. What follows are some quick thoughts about this shift.