The Atlantis Report
Premiered Oct 29, 2020
The European economy is in an unprecedented crisis; it is getting hit hard by a second wave.
That's driving Italy, Germany, Belgium, Ireland, and other European countries to reimpose lockdowns and other restrictions, which is threatening the nascent economic recovery and raising pressure on governments to offer even more financial support to people and businesses. This second wave looks worse than the first.
Spain and France reached the grim milestones of over 1 million cases each on Wednesday while the U.K. lags with just over 792,000 cases.
This second wave of shutdowns would absolutely devastate the European economies.
Europe has negative interest rates, low growth, and significant inflation. The Euro losing purchasing power every day.
Many important European countries are struggling with double-digit unemployment. Fragile export, fragile stability in banks. Negative interests and printing money. On the first attempt to normalize or the first trouble windy market economic condition, the Euro and some countries will start to collapse quickly again. The ECB knows it, but not able to find a way out, afraid of any real move.
Major European banks are insolvent. Half if not more of the latest Eurozone rounds of stimulus is going to these banks just to keep them barely above water.
https://www.youtube.com/watch?v=k7G1fqiRUM4
0 Comments: