Germany, proper *****d.

[fillyboy]

A leading economist has warned that the Euro is only being sustained because the credit rating agencies have not downgraded Germany yet.

Writing for Express.co.uk Bob Lyddon, has warned that investing in the currency is now less safe than "gambling on bitcoin" and other crypto currencies because of the unsustainable debt in the EU.

His piece comes amid new concerns over the EU's single currency which is used by a majority of its members.

With EU debt now well above that of the UK as a percentage of GDP, there are serious questions over where the reserves to sustain the Euro will come from.

The economic woes, partly brought on by the pandemic lockdown, have meant the eurozone unlike Britain has already gone into recession.

MSN

*****d,

 

[JohnD]

It's always worth a laugh watching the anti-Europeans trying to spread their stories. The Tory Express is one of the worst.

Lying Johnson used to make a living out if it, and it got him a temporary job.

 

[ReganAndCarter]

Officially

Lets face facts, Europe as a whole, irrespective of any political ties is now in the world slow lane and China is in the fast lane , pulling ahead faster and faster with other "cheaper" countries doing the same. The best days are behind us - sad to say, but probably the realistic view for us all.

Not just China, I believe The USA's economy is resurgent and doing quite well.

 

[ReganAndCarter]

All the die hard Brexiteers seem to be overlooking one thing. 20 years ago, a £ bought you 1.75 Euros. What does it get you now?

If The EU is going down, we've gone down quicker and further.

 

[ReganAndCarter]

Trying to draw a comparison between Germany and UK, based on industrial output is like comparing apples with sausages.

That's the wurst thing I ever heard.

 

[Odds]

Officially


Not just China, I believe The USA's economy is resurgent and doing quite well.

Considering they've injected $785 Billion into the economy i'd be surprised if it wasn't appearing to do well. But their credit rating was downgraded last week and having raised the debt ceiling yet again it's like putting another level of cards on the deck. Stack 'em all you like but it appears unsustainable to me. Biden's 'New Deal' is another bodge on a dodgy build.

 

[noseall]

A leading economist has warned that the Euro is only being sustained because the credit rating agencies have not downgraded Germany yet.

Writing for Express.co.uk Bob Lyddon, has warned that investing in the currency is now less safe than "gambling on bitcoin" and other crypto currencies because of the unsustainable debt in the EU.

His piece comes amid new concerns over the EU's single currency which is used by a majority of its members.

With EU debt now well above that of the UK as a percentage of GDP, there are serious questions over where the reserves to sustain the Euro will come from.

The economic woes, partly brought on by the pandemic lockdown, have meant the eurozone unlike Britain has already gone into recession.

MSN

*****d,

"EU on the brink"....says The Wail/Express/Torygraph.

Lol.

 

[noseall]

That's the wurst thing I ever heard.

I think he meant to prefix sausages over apples (Germany/UK).

 

[gas112]

Germany's Recession Headache Exacerbated by Shrinking Car Production

Germany's shrinking automotive sector and construction output are currently indicating that another contraction can be expected later this year, according to the nation's Federal Statistical Office (Destatis).

sputnikglobe.com

 

[denso13]

Germany's Recession Headache Exacerbated by Shrinking Car Production

Germany's shrinking automotive sector and construction output are currently indicating that another contraction can be expected later this year, according to the nation's Federal Statistical Office (Destatis).

sputnikglobe.com

There's no doubt they have been hit the hardest by their previous dependency on Russian fuel.

 

[denso13]

Heard this on the radio earlier, plenty of underlying problems in China,

Deflation: Why falling prices in China raise concerns

The world's second largest economy has slipped into deflation for the first time in more than two years.

www.bbc.co.uk

 

[Odds]

From the link:

Building confidence among investors and consumers will be key to China's recovery, Eswar Prasad, a professor of trade policy and economics at Cornell University, said.
"The real issue is whether the government can get confidence back in the private sector, so households will go out and spend rather than save, and businesses will start investing, which it hasn't accomplished so far," Professor Prasad said.
"I think we're going to have to see some significant stimulus measures (including) tax cuts."

Isn't that something the UK should be doing?
I mean, the government is flatly refusing to cut taxes, has no confidence from the private sector to invest in business - HS2 is dying in the ditch and any plans for implementing an environmental energy policy are being cut back while households are lucky to have any extra to spend on goods and services, let alone save any of it - assuming you can find a bank willing to hold your account instead of cutting you out of the system altogether.

 

[denso13]

Isn't that something the UK should be doing?

Quite.

I can't see that the Government is doing anything much, other than riding things out. You'd have thought, especially with a GE round the corner, something would be happening.

 

[ellal]

The NIESR has an interesting take on UK prospects...

"The director of the NIESR, Jagjit Chadha, said there were signs of a return to the “British disease” of the 1970s, a period when the UK struggled with a combination of high inflation and weak growth.

“Until we ignite economic growth, a substantial portion of households will struggle with high housing and food costs, poor transportation, a creaking healthcare service and dwindling savings”

“The triple supply shocks of Brexit, Covid and the Russian invasion of Ukraine, together with the monetary tightening that has been necessary to bring inflation down, have badly affected the UK economy"

Brexiteers of course still claim that brexit has made no impact despite the £100bn per year hit that the UK economy is taking because of it...

So the temporary problems that might be besetting Germany pale into insignificance compared with the toll that brexiteer extremists have inflicted on the UK!

 

[JohnD]

“The triple supply shocks of Brexit, Covid and the Russian invasion of Ukraine, together with the monetary tightening that has been necessary to bring inflation down, have badly affected the UK economy"

Only one of these was self-inflicted damage to the nation.