Was EU austerity on the Path to EU Fascism?

The so-called debt crisis and the accompanying  unemployment and austerity scares were a massive hoax in the USA and EU. The perpetrators brought social turmoil, which in the past led to Fascism.

Europe, Unemployment and Instability ... The global financial crisis of 2008 has slowly yielded to a global unemployment crisis. This unemployment crisis will, fairly quickly, give way to a political crisis. The crisis involves all three of the major pillars of the global system -- Europe, China and the United States. The level of intensity differs, the political response differs and the relationship to the financial crisis differs. But there is a common element, which is that unemployment is increasingly replacing finance as the central problem of the financial system. – Stratfor, Daily Bell
Dominant Social Theme: Unemployment will be the next great crisis for Europe to overcome. Fascism may be the result.
Free-Market Analysis: We generally distrust Stratfor analyses because over the years it's become fairly obvious that they have an agenda beyond their stated goal – or so we have decided, anyway. But this particular publicly available analysis is a pretty good one ... though with a major caveat that we will discuss below.
The thrust of the analysis (see excerpt above) is that a debt crisis is giving way to an unemployment crisis. This may seem obvious but nonetheless is likely a valid "big picture" explanation of what is going on.
For investors in various European ventures, the lagging economies of Southern Europe and the inability of Brussels to create economic progress must be both noticeable and worrisome. Here's more from the article:
Europe is the focal point of this crisis. Last week Italy held elections, and the party that won the most votes − with about a quarter of the total − was a brand-new group called the Five Star Movement that is led by a professional comedian. Two things are of interest about this movement. First, one of its central pillars is the call for defaulting on a part of Italy's debt as the lesser of evils. The second is that Italy, with 11.2 percent unemployment, is far from the worst case of unemployment in the European Union. Nevertheless, Italy is breeding radical parties deeply opposed to the austerity policies currently in place.