Fixit, Swexit, Italexit, Nexit, Frexit, and Grexit. Everybody in Europe Wants the Euro but not the European Union. Except for maybe the UK which uses the pound and voted to leave the European Union in the Brexit. And 61% of France has an unfavorable view of the EU, yet close to 72% would like to keep the Euro in a recent poll. Currently, unemployment in Greece is over 20 percent. Greece still has not balanced a budget and has been digressing in and out of a non-ending depression and malaise. And Italy has close to 12% unemployment and 130% debt to GDP. However, nobody including the markets even shuddered or blinked an eye recently when Italy’s government approved 21 billion dollars to shore up its troubled banks and on April 4th it has been confirmed the Veneto Banks have a shortfall of 6.4 Billion. All the European Union Members are hostage to the export power house Germany in order for the European Union to thrive. But, this often means high unemployment, debt, and excessive welfare in the other countries so they do not rock the boat. And everybody celebrated when the overall EU jobless rate dropped to 9.5 % but France’s unemployment rate still sits at 10% and Spain’s is still 18%. And now Germany is talking about hurting it’s own economy to help the other economies so other countries can develop jobs. Very few people even noticed the European Union's 5.5 trillion negative interest loans? Currently, the Euro Zone has 8.6 trillion in negative yielding debt. So far do no worry, Europe can probably pull through with a debt to GDP ratio of 87%, which is better then the US.
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