{"id":53551,"date":"2020-06-08T06:25:37","date_gmt":"2020-06-08T11:25:37","guid":{"rendered":"https:\/\/olduvai.ca\/?p=53551"},"modified":"2020-06-08T06:25:43","modified_gmt":"2020-06-08T11:25:43","slug":"eu-economy-traveling-along-same-worn-dead-end-road","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=53551","title":{"rendered":"EU Economy Traveling Along Same Worn Dead-end Road"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/brucewilds.blogspot.com\/2020\/06\/eu-economy-traveling-along-same-worn.html\">EU Economy Traveling Along Same Worn Dead-end Road<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/1.bp.blogspot.com\/-lTmn4cYVaBw\/Xt0NXdV0AnI\/AAAAAAAAFcs\/rsPk8PKjQ5sr7ngkgjYLtnGouNrxY1gOQCLcBGAsYHQ\/s1600\/euf2.jpg\"><\/a>With so many countries across the world facing difficulties, many people have yet to notice the Euro-Zone has become a place where hope goes to die. The last round of elections in the Euro-Zone should bring little comfort to those supporting a stronger Europe. Huge gains were made by forces seeking more power for the populist agenda. In short, it is a boost for the rights of individual nations to have more say in how they are governed.&nbsp;<em>&nbsp;<\/em>Two of the most pressing issues are that insolvent Italy struggles with a stagnate economy and Spain is coming apart politically with Catalan separatists defying Spain&#8217;s Prime Minister.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To avoid the union coming apart at the seams and a miserable future, the European Commission recently unveiled an unprecedented&nbsp;\u20ac750BN CoVid-19 recovery plan. It consists of \u20ac500 billion in grants to member states, and \u20ac250 billion would be available in loans.<strong>&nbsp;This means they are asking for the power to borrow. This is geared to tackle the worst recession in European history and shore up Italy. It would mean transforming the EU\u2019s central finances to allow for it to raise unprecedented sums on the capital markets and hand out the bulk of the proceeds as grants to hard-pressed member states.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Euro-Zone was already in deep trouble before CoVid-19 hit, the weakness that started in 2017 never ended. In the fourth quarter even Germany narrowly escaped recession. This could be blamed on the Brexit or Trade War but it goes beyond that, they abandoned all structural reforms in 2014 when the ECB started its quantitative easing program (QE) and expanded the balance sheet to record-levels.\u00a0<strong>In 2019, almost 22% of the Euro Zone GDP gross added value came from Travel &amp; Leisure, a sector that will unlikely come back anytime soon.<\/strong>\u00a0Add this to weak exports and a banking sector that is totally decimated and everything points downward.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EU Economy Traveling Along Same Worn Dead-end Road With so many countries across the world facing difficulties, many people have yet to notice the Euro-Zone has become a place where hope goes to die. The last round of elections in the Euro-Zone should bring little comfort to those supporting a stronger Europe. Huge gains were [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[7783,279,284,285,855],"class_list":["post-53551","post","type-post","status-publish","format-standard","hentry","category-economics","tag-credit-expansion","tag-eu","tag-european-union","tag-eurozone","tag-viral-pandemic"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53551"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53551\/revisions"}],"predecessor-version":[{"id":53552,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53551\/revisions\/53552"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}