A few weeks ago we warned that while authorities can put together massive financial rescue packages for Europe’s sick economies, the recovery will be dependent on politicians implementing the austerity measures necessary to repair their budgets… and for the public to accept those measures.

The last week has reflected just how serious the political risks are to Europe’s future. Both the Greek and Italian prime ministers have been forced to step down and opinion polls show a similar fate is on the cards for most other European leaders… including Germany’s Merkel and France’s Sarkozy.

Nothing appears certain.