Opinion

John Lloyd

If Prince Charles becomes King Charles, will his kingdom leave him?

John Lloyd
Jun 19, 2014 10:22 UTC

Prince Charles, the Prince of Wales and Duchess of Cornwall Camilla arrive for the second day of the Royal Ascot horse racing festival at Ascot, southern England

Could Prince Charles finally get his crown? And if he does, could it mean the end of the United Kingdom?

Abdication in favor of the younger generation seems to be something of a trend in Europe — if two cases can be considered a trend. Queen Beatrix of the Netherlands abdicated last year so that her son, Willem-Alexander, could bring some youth and vitality to the largely ceremonial role.

More recently, King Juan Carlos, widely credited with having assisted the end of the Franco dictatorship in Spain in 1975 and with puncturing a rather feeble coup attempt in 1981, vacated the throne in favor of his son, Felipe. The announcement was followed by large demonstrations calling for an end to the monarchy entirely, with Cayo Lara, leader of the United Left Coalition, quoted as saying, “We are not subjects, we are citizens.”

And that’s the problem. While individual monarchs may be popular in Europe, monarchy is something else.

To be sure, Spain is its own case. There is 25 percent unemployment, with 50 percent of the young unemployed. Leftists did well there in the recent European Parliament elections.

The vulnerability of the European elite

John Lloyd
Feb 6, 2013 17:28 UTC

Storms in the Mediterranean, calmed in the latter half of last year, now whip up again. Greece’s woes hardly surface in the rest of the world now, but they’re deep and the people remain restive. Seamen struck last week over unpaid wages and extended the strike this past Sunday. The strike cuts off the many islands around the country, and limits exports and imports. For a country so defined by the sea and shipping, it takes on an iconic quality. A 24-hour general strike has been called for Feb. 20: Golden Dawn, the far-right party that targets immigrants and that stands third in the polls, held a thousands-strong rally in Athens on Saturday. No one can say whether the lid will stay on until matters improve – or, indeed, if matters will improve.

Greece’s recent history makes its troubles largely discounted internationally. But along the world’s most famed stretch of water, from which both European and Middle Eastern civilizations drew their inspiration, is Spain, a much larger economy, a weightier state, one whose Spexit could not be contemplated, which is why its failing banks received special care and attention from the European Central Bank to stay in business.

Mariano Rajoy, Spain’s prime minister, had been neatly packaged by the news media as “dull but honest” – one who would apply himself with patience and a clean conscience to the hard grind of leading Spain out of its post-bubble miseries. That narrative was brought to an end last week with the publication in the daily El Pais of details of the parallel accounts that one of Rajoy’s former colleagues, the onetime treasurer of the center-right People Party (PP), Luis Barcenas, had kept. These purport to show that Barcenas had paid out generous and secret amounts, from a Swiss-based slush fund, to senior party officials, including Rajoy. Barcenas, treasurer from 1990 to 2008, had already resigned because he appears implicated in a separate scandal involving kickbacks to PP officials in return for public contracts.

For Europe, it doesn’t get better

John Lloyd
Apr 4, 2012 21:03 UTC

The European crisis isn’t over until the First Lady pays, and the First Lady of Europe, Angela Merkel, cannot pay enough. She needs to erect a large enough firewall to ensure that the European Union’s weaker members do not, again, face financial disaster. That will not happen – which means the euro faces at least defections, and perhaps destruction.

The crisis had seemed to recede somewhat in early 2012, and the headline writers moved on. But it had only seemed to recede, and relaxation was premature. As Hugo Dixon of Reuters’ Breaking Views put it on Monday, “the risk is that, as the short-term funding pressure comes off, governments’ determination to push through unpopular reforms will flag. If that happens, the time that has been bought will be wasted – and, when crisis rears its ugly head again, the authorities won’t have the tools to fight it.”

But the underlying tension remains between high indebtedness in nearly all the EU countries and the need to pare back public spending without suffocating the economies. The flat, or negative, growth lines in the same countries that are indebted are likely to be made worse as demand falls and a malign cycle threatens.

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