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Analysts like Simon Tilford, of the Centre for European Reform in London, say the reforms are crucial. "What we are seeing is essentially a very powerful group of special interests resisting reforms that would be in everyone's interest and which provide one of the least painful ways of reassuring investors about France's public finances," he said. Tilford believes European governments must take more painful measures than simply increasing retirement age.

"It depends how you define success," deputy director at the Centre for European Reform Katinka Barysch told The Moscow News. "If the government thinks it will create the physical infrastructure for international business then I think that yes, given how much money they have thrown at the project, it will be a success.

"There's a pattern," said Tomas Valasek, a defence analyst at the Centre for European Reform. "France and the UK have the same problems, both with nuclear forces and the full spectrum of military capability. They face the dilemma of dramatic spending cuts while trying to retain European superpower status. If they don't want to reduce capabilities they need to seek savings through collaboration.

Simon Tilford of the UK-based Centre for European Reform think-tank declared himself skeptical about better-off regions getting money, even if they are relatively poorer in their own countries. "National regional policies need to be rethought, ... I don't see the case for depriving poor countries of needed funds when rich nations have failed to redistribute wealth within their own territories."

"Poor economic growth prospects, not high deficits, lie at the heart of the eurozone crisis," says Simon Tilford, chief economist at the Centre for European Reform think tank. ... "The eurozone can only avoid permanent crisis by convincing investors that growth will be strong enough for the hard-hit members of the currency union to service their debts," Tilford wrote in an essay entitled 'How to save the euro.' "As things stand, it is hard to see how they can grow their way out of trouble."

"Unless there is a rethink, the eurozone risks permanent crisis, with chronically weak economic growth across the region as a whole and politically destabilising deflation in the struggling member states," Simon Tilford, chief economist of the Centre for European Reform, said in an essay.

"The danger of social protest is real but more subtle," said Charles Grant, director of the Centre for European Reform think tank. "I don't think it will lead governments to fall, but it is changing the intellectual climate in Europe to make further moves toward market liberalisation less likely, and hence the long-term stability and survival of the euro less likely ... Social protests reflect a shift in the Zeitgeist (mood of the age) that will damage economic efficiency and productivity and lead to slower growth in Europe," Grant said.