But I think we will see also in Germany the rise of anti-bailout thinking, but it's so difficult to criticise it now without being labelled a certain kind of populist.

There is another danger: that “enlargement fatigue” among existing members, at a time of rising xenophobia and populism, will consign the Balkans to eternal instability.

But she cautioned that an inordinate focus on the wealth of the top 1 percent, including populist demands for pay limits on chief executives, probably would not help the other 99 percent.