The Daily Express journalist Paul Withers wrote an article last Saturday [30/07/2022] essentially scare mongering that the “End of the Euro” is nigh. Calling its a “Trap Closing in” as global recession looms.
In an exclusive interview with Express.co.uk EU critic and Frexiteer Eric Noirez warned “The situation in the Eurozone is dramatic, not to say desperate.” “We have record inflation, a record trade deficit, record national debts, continuing de-industrialisation, growth still at half-mast and, finally, an increasing loss of confidence of investors and economic actors.”
While I agree that there are indeed fears that Germany, the EU’s largest economy could slump into recession as could the rest of the Bloc countries but there is not a “local recession” on the way
there is a Global recession on the horizon and there is very little the various central banks can actually do to neutralise the threat.
Of course Europe is struggling to fight off the risk of a chronic shortage of gas heading into the winter as founded fears believe that the diminutive despot Vladimir Putin will completely cut off supplies into the EU – but that is a matter of when not if. It is one ofthe verylast fulcru …..
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