Across the European Union – the ongoing debt crisis has sparked an upheaval in the bloc’s political landscape. From Greece to Italy, unelected Eurocrats are on the ascendant – as democracy gives way to a desperate struggle for economic survival. Wasting little time, Mario Monti unveiled his new strategy the very day he took office – more austerity, more cuts, and more tax hikes. But markets are far from convinced – with debt interest rates across the EU reaching catastrophic levels this week.

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