There has been a lively debate on the effect of… Read More »Euro, markka and the exports of Finland
One thing missing from basically all economic analyses of the… Read More »The approaching European (global) banking crisis
The massive economic blow caused by the Covid-19 will, most likely, bring an end to the European common currency, euro.
The European Monetary Union (EMU) has been a bold, but fundamental flawed experiment. It has sown the seeds of divergence in economic well-being, politics and it has “zombified” the banking sector in Europe. For investors, it has created the possibil…
For some years now, we’ve been very wary of the legitimacy of the “economic recovery”.
The Eurozone is a fragile financial mammoth. While its GDP lacks the US by around $3 trillion, assets of the banking sector are some 240 percent of GDP vs. around 90 percent in the US. It has been kept standing only through the large-scale asset purc…