Is the euro zone at risk of breaking apart?
ฝัง
- เผยแพร่เมื่อ 22 พ.ค. 2024
- In July 2012, the European Central Bank's then-president Mario Draghi gave a speech that is now credited with saving the euro. "The ECB is ready to do whatever it takes to preserve the euro, and believe me, it will be enough," he said at that time.
Greece was in the middle of a debt crisis, and economic instability was spreading to other parts of the euro zone. The ECB, the central bank for the countries that have adopted the euro, had to act.
Ten years later, the euro and the euro zone are still intact. But one of the core issues at the heart of the crisis still remains. In fact, it rears its head every time the region comes under economic pressure.
The crux of the problem in the euro zone is this, according to Angel Ubide from hedge-fund firm Citadel: "Two identical firms or households have differing financial conditions or funding conditions, just as a result of the country they are located in. So, in that sense, your passport becomes a major determinant of your funding conditions."
"Of course, there should be differences, but when the differences are very big, and then we can say that monetary policy has been fragmented," he added.
So, is the euro zone at risk of breaking apart? Watch the video to find out more.
#CNBC #Euro #Eurozone
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people have been saying this every year since the Euro was launched
It is until it isn't
Exactly. And with each new crisis, further integration makes the euro get stronger. Hopefully, this way once again, the pressure will not be big enough to break the euro but strong enough to force it to become stronger and adapt.
@pm Neither there is in india, china, indonesia, malaysia etc. Heck, even inside of europe, spain (e.g. Basque vs Catalonia), germany (e.g Nord vs Bavaria),etc. and, still, society works.
Also, brexit was the best pro-eu publicity there could have ever existed. Have you seen its effects lol? Even northern ireland and scotland want to secede from the UK just to get back into the EU
@pm The UK was not in the Euro. Everywhere in Europe similar movements have virtually disappeared after seeing the shitshow of Brexit these last 6 years
@@thailux6494 That's European Union not Eurozone.
"Till Debt Do Us Apart"...
Lol
Nice one mate 😂
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"Situation is much stronger now...", famous last words.
Hahahaha yeees! Much stronger with all of the countries even higher debt 😂😂😂
You say that because you probably don't remember the state it was in the earlier 2010's. Now countries trust a lot more in Euro, and people also do so. Being out of the euro means losing a lot more than we are losing now, and most people agree with that.
While americans love to hate the euro, europeans know it is fundamental so they can face economic crisis. So yes euro is much stronger and will not fail anytime soon.
@@PmmSoares EU and US govt debt to GDP is 120%. In the meantime Asia is moving towards gold and commodities backed currency. EUR and USD are not worth the paper they're printed on.
@@solaroid4442 go and buy roubles or yuan then haha
@@kg9799 HONG KONG, Dec 3 ,2013 (Reuters) - China’s yuan currency overtook the euro in October, becoming the second-most used currency in trade finance, global transaction services organisation SWIFT said on Tuesday.(Reuters)
So it already surpassed Euro.
People are buying rubble that is why rubble is getting stronger.demand and supply rule.
as a greek i think that our economy status is much better than it used to be in 2009. That year the level of uncertainty was extremely high, the salaries went for a sky diving but today we managed to stabilize the situation, but we still have a very very long way to go.
Start repaying your debts and taxes dear greek friends, you guys are masters of tax evasion.
@@manhoosnick As usual politicians always look the other way and focusing on other things 😐
Your country got bankrupt and needs to be bailed out by other country members.
2009 onwards was as much if not more about bailing out the French and German banks through the backdoor which had recklessly lent to Greece.
Greeks shouldn't be so hard on themselves and your creditors shouldn't be so lenient on themselves.
You can't have an irresponsible borrower without first having an irresponsible lender.
Our purchasing power is litterally 0 with today salaries. 0 chance you live and work in Greece...
When a banker or politician says believe me…..
4:58 I think it’s important to remember that the austerity policy was democratically rejected by the Greek people in a referendum, but then autocratically enforced by the European authorities. (In order to save the financiers.)
They can’t have their pie and eat it too.
Betteridge's law of headlines: Any headline that ends in a question mark can be answered by the word no.
To be fair I think that was the point/conclusion of the film.
The Euro will survive for as long as Germany is willing and able to underwrite it.
That is as much a political question as it is an economic one.
France gave Germany the single currency lemon in return for it not opposing German reunification and Germany has made lemonade ever since.
Hence the 2008 Greek bailout wasn't some huge act of Franco-German generosity, they were effectively a backdoor bailout of French and German banks who had lent recklessly to countries like Greece with very little monies subsequently actually going to the Greek state.
Germany is getting destroyed by USA with the nordstream 1 and 2 bombed. Germany is going to be deindustrialized.
And to think ribbontrot though of this in 1940s to peg all other Europeans currency to the reichsmark
Only winter will tell
What are you on about.
Our gas storages are full and we're importing massive amounts of LNG
@@RazorMouth it will be a shame of something happened to those storages
@@kayjr9795 And what could happen? 🙄 Looking for a war with NATO?
You realize that NATO is the equivalent to 3 times the size of the US military? 😂😂😂
@@RazorMouth NATO is very weak. Remember Russian invasion of Germany ;)
@@RazorMouth What's NATO gonna do? Send a strongly-worded letter? Y'all scared of Russia.
Every year its the end of the Euro or E.U crap. I can tell you now as someone living in Europe with whats going on now the bond among almost all E.U members and the need for the Euro is only getting stronger.
nope you have very less population,no innovation .
The best tip is to stay away from usa .
@@AdityaJape no innovation? Someone's not doing there research I feel. Did you know the entire global chip market relies on one European company.
@De Van Man The union is a sinking ship, its collapse will be hastened this winter when there will be no gas to heat their homes.. Since the formation of the union the Americans have gone on to produce the likes of Microsoft, Google, Apple, Amazon, Tesla etc what have the Europeans got to be proud of ? ASML alone is not enough and most probably it will be sold to TSMC or Intel
Europeans keep crying out loud they are best in world
Era of European supremacy is over
@@memnem3787 ended long back.
When they explain how bonds go up and down in price in relation to credit rating, they neglected to add that it’s not just credit rating. There are other factors, such as current coupon rates being offered on the primary market. As rates go up, the price of existing bonds go down, and vice versa. The further away the maturity date, the more volatile the reaction to these changes.
One huge problem is that countries are not equal in EU.
US states arent either. We have California, New York, Texas and Florida funding the entire deep south.
Rightfully so
Yes and states in America aren't equal also....
how are they not equal
Eurozone countries are even more economically equal than US states. The inequality from Athens, Greece to Vienna, Austria (two cities I've lived in) is less severe than the difference between Jackson, Mississippi and Los Angeles, California. In nominal terms we're talking about $40k to $55k from Athens to Vienna vs $45k to $65k from Jackson to LA. In PPP adjusted terms, the European economies are even closer. And Greece has started to shift its economy and turn it around since 2008.
It’s been 20 years news have been calling the “end of the euro” … stil there.
That was when Germany was the strongest EU country and could help support the Southern countries, this is changing now very rapidly and with both NordStream pipes cut off, the outlook is rather grim.
I wonder who sabotaged the pipeline 🤔 America is offering selling liquid gas at extortionate prices 🙄
You aee right
True. The situation now is different.
nah, energy will become a bit more expensive, but that will not cut that hard into the margins. the growth of the euro zone will slow down a bit with this, but it will also will make more urge on alternative energy sources, so there will be groth in some sectors, and some might even shrink, but in total, the euro zone is probably the most stable economic area in the world.
usa has much more risks to deal with. china is not comparable. japan is an island and a smaller economic zone. south korea has its neighbours. taiwan has its neighbour...
💶 is convenient for travelers, but it seems to be troublesome for some countries not to be able to decide interest rates by their own. Financial matters are different in each country
at least they got more cohesion in bond issuances... benefit those with poorer financial standings... plus, they can coerced countries to play by their political rules, I e. hungary. tho the latter is controversial
@@MarkWTK
Hungary doesn't even has the Euro.
Doesn't make much sense therefore.
@@frankthetank5708 true. but I think they're receiving part of their budget from the EU. which is why the EU is thinking of rescinding the funds unless Hungary resolve their democratic issues and anti corruption. the EU is also mad at them for allowing a Chinese university to be established there. only the second one outside China.
@@MarkWTK
The problem is not the Chinese University, but that they've allowed to open this one and have closed another one, funded from a NGO, without proper reason.
If you want to be member of the EU, you have to make sure, that corruption in the government is reduced to commonly agreed minimum standards.
The fact, that Hungary is making the opposite and giving away EU-subsidies to friends of Mr. Orban will be punished.
After nearly 10 years and many jurisdictial orders that have been neglected.
Spot on !
To be an enemy of America can be dangerous, but to be a friend is fatal from Henry kissinger
Huh?
It’s fashionable to misquote Henry Kissinger when you want to stick it to the United States. Not that this is relevant to the video.
@@MalfosRanger I think it's quite relevant to hear his words until this very moment.
"USA bad"
@@N1ckZ in this case, it truly is, look at the nuland pyatt 2014 call, the ukraine - russian conflict started because the U.S coup'd ukraine.
Gorgeous reporter
Fine reporting. Thank you.
Glad you enjoyed it!
Clickbaity headline though, as there isn't a risk of the euro breaking up. The last guy in the video said it all.
@@Marcus_K So because the last guy said so, he's not going to say, we're going to collapse tomorrow.
This seems interesting, I’ll save it to watch later. The title brings to mind the views of the late Lee Kuan Yew on this subject in his book “One Man’s View of the World”.
What did he says?
@@TheMap1997 Basically what he said about Europe is that Europeans are lazy, welfare is destroying the continent and the EU is never gonna work because one cenrtral bank cannot cater to multiple countries
@Secrets. Last point is especially true, because monetary policy of the ECB caters to Germany and France because they're the countries with clout. There's other Eurozone countries with 15%+ inflation, yet the policy rate of the ECB has just become 1.5%. Eruzone countrie sare not all in the same part of the economic cycle, so Germany and France benefit at the expense of smaller Eurozone countries.
love the language they use in this video (quite obscure) specially the last sentence.
Even with ‘stringent condition’ in place, I wonder what new and destructive activities have been encouraged by a statement such as ‘we’ll do anything it takes’?
EBC printers go brrrrrrr!!!!!!
Same currency with different fiscal policy is like one of your foot going to the left and the other one is going backwards while your body wants to go forward.
Yes. One can hope.
Only time will tell.
Where is Croatia (member of the EU) on the puzzle board?
Croatia will start using the euro from January 2023
Croatia will enter the eurozone at the most critical time in EU's history. The kuna has never been a real currency, just a proxy for the euro and the deuteche mark.
@@liberoAquila, so I would like to be a bit more enlightened and I’m happy to read it. Cheers!
I think the eurozone will survive, if only because we can now look at what happened to the country that left.
No country has left the eurozone.
Which country left the Eurozone? The U.K. left the EU with the Pound, which, despite its recent 'hiccup', bounced back to regain its previous rate against the dollar. The Euro is STILL below parity with the Dollar (17/10/22).
@@briantitchener4829 the EU isn’t the eurozone.
@@benjiwatson2368 I know that. That's why I said the UK left EU, NOT the Eurozone.
lol, clueless comment is always hilarious
That would be great!
This is the major problem with the euro. It comes with great economic opportunities, but the fact that one country can risk the currency of dozens of countries is outrageous
I hope so.
And this is spreading to other parts of Europe (shows Irish flag which is doing incredibly well)
It’s doing incredibly well now, but in 2009-11 it was at high risk of debt restructuring (see the Irish yields at 6:10)
@@jobakun3055 not well since Irish debt to their actual GDP ratio (not the leprechaun GDP) has surpassed 110%
"Will not attempt to bet against new Eurobond area" well there you just encouraged banks and shorters to bet against it 🤣
Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong
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If it didn't crash in the 2008 crisis it's certainly not going to crash now.
It's worth less now than it was in 2008
The crazy part is that the country`s with most separatists are also the country's with the most unsustainable debt. And they all blame the Euro and the EU for their problems. It`s a bobble of narcissism at it`s worst. Reality is that a lot of the nations are not on a level of accountability that makes this system sustainable over time. There could be a new union with the northern European country`s . As far as i can see it would even be more rational to have a union with South Korea and Japan, rather than some of the southern European nations who are super corrupt and run by mafia.
Nations that are able to stay democratic, capitalistic, and respect the rule of law and so on should stick together and also have zero problems of doing so. Hungary, Greece, Italia, Poland are maybe better of on their own. Then they can stay accountable for their own problems instead of blaming others for the consequences' of their own toxic short term thinking politics ( Debt that they cant pay for).
the crazy part is Italian and Spanish economy are doing worse after EZ
Sweden and a couple of other countries didn't adopt the Euro while being in the zone. Did it work better for them? As far as I remember the NOK went lower even though they have oil. 🤔
the norwegians probably were purposefully devaluing their currency to make their exports (like oil) cheaper
A floating exchange rate is very useful. It's not hard to understand.
@@gregvanpaassen So why don't California and Alabama have one?
@@u.s.navy_pete4111 do you really need an answer to that question??!! 😂
because high NOK is bad for the Salmon business, same things why Swiss regularly intervene to devalue their CHF. Bad for exports of chemicals and chocolate.
and the economy is way better outside of the Eurozone.
It's basically Germany bailing out Greece over and over 😂
Germany has no choice to bailout indebted nations or else it sees a recession coming its way. At the end of the day, Germany also needs these countries as markets to pay for high priced German goods.
Germany made debt at a low intrest, and loaned the money to Greece at a higher intrest, pocketing the difference. Thank you Greece and financial markets! If you need help like this bailing out, let us know 😎
@@SolomonSunder Yes and no. Exports to Greece and Italy make up a very insignificant amount of Germany's economy. It is obviously better for Germany to have them open and buying from them, but it is by no means a catastrophe for Germany if Italy or Greece suddenly couldn't.
@@rsrs8632
It was Goldman Sachs who “cooked” Greece accounting books and lent them money.
You have to see who profited on Sovereign debt Crisis: Wall Street and The City.
True, but in turn it is also bailing out itself, not least because as a major global exporter it benefits substantially from having poorer nations within the Euro helping to suppress the value of its currency.
Media "Is tTIs thE ENd oF EuRo?"
Media "IS thIS ThE eNd Of POund?"
Media "iS ThIS tHE eND oF dOLLer?"
Above all, Is this the end of the Chinese economy.
Or all 3 in place of a 1 world currency, as the goal.
@@Truthseeker88888 😂😂😂😂 I love conspiracy theorists that aren't experts in anything and have a degree in absolutely nothing
@@N1ckZ A degree? So you need the appeal to authority fallacy to form an opinion? Think for yourself. Observe what is going on around you. 🤯
@@Truthseeker88888 people that don't have one, become like you. No educated person believes in conspiracy theorists. You are acting like as if wars and inflation are something new. That's what happens when you don't know anything about history. Today there are fewer wars happening around the world than at any other point in modern history. Also, inflation was always a thing, ever since money was created in fact, but you are acting like this is some conspiracy because it went up ~10-13% this year. In 1923 in Germany, inflation was 29500% and no one could even buy a bottle of water. In Hungary, in 1946 inflation was at 41,900,000,000,000,000% (41.9 quadrillion percent). The world right now is richer than at any other point in human history. In 1900s US citizens were only earning 4$ (in today's money) per day. Before, it was even less than that. I wouldn't be surprised if you don't reply.
Wow the reporter is stunning
Lol my guy get out more 😂 see women like that on the street where I am every day
Hopefully
They could issue EUR 750 billion because “Europe has no debt”. Crazy.
Nice Accounting i would say 🤣
I think value of euro will start to climb again in about 10years. As a collectible.
😂
E.U. is very huge? Not surprised it will split and breakup! Britx is the only beginning?
NO! Its crashing for 20 years. Click bait title
reporters dont understand whats really going on
Individual european countries are not strong as when they are together. That’s why the EU was born and it makes sense to eliminate the borders. But using the same currency while not on the same economy level will only lead to disaster one day. If the investors don’t see a weak point in euro they won’t waste their time to bet against it.
We already had disaster, 2008 and we survived.
This crisis is nothing compared.
it's entirely possible to manage, it just requires large scale consistent wealth transfer to stabilize they system. That's what the US does. rich states like New York or California pay significantly more in federal taxes than they receive in federal spending, and poor states like Louisiana receive more than they pay. The problem in the EU, at lest in the past and very near future, is that it takes a very strong sense of shared identity for people to put up with that.
Thats why they have euro so that their internal markets are considered one and are never competing against each other, more over they have very strong options for punishing a country like poland and hungary if they try to destablise their economies.
Accumulate Europe debt as EU debt is even more dangerous because if a fire starts in one country it will spread like wild fire within the block even well develop nations will suffer since it's no longer a one country problem and when that happens the will just be pointing fingers instead of actually solving the problem like we seen before
@@BrokenSoldier1515 Poland and Hungary aren't in the Eurozone.
The country with the most common reserve currency is somehow critical of the region with the second most common reserve currency. How surprising. But actually fiscal integration was always planned and eventually EU-bonds will become the standard. That’s also how it happens in the US as the Dollar faced similar challenges for a period of a century.
yeah, its inevitable.
1:35, the title should be “across the EU countries” instead of “across the Euro area”
Europe needs Kwasi, he is availible.
Made me chuckle
The Euro is scheduled to be replaced by a new currency called the Eurine.
The graph they use at 1:30 does not show the debt to gdp for just the euro area but for eu contries. The report from eurostat that they have sourced it from states clearly that its goverment debt to GDP for EU contries and not just for the euro area. The change therefor made in the title of this graph and its representation are a bit misleading.
Should be ok just so long as Germany, a global manufacturing and exporting behemoth, can re-source vital cheap energy supplies previously supplied by Russia.
Is what the end of the euro? It looks like the end of the euro as a hexagonal nut.
Max was here
There is no better protection against the euro crisis than successful structural reforms in southern Europe. -Mario Draghi. Unfortunately, I was st*pid to have bought more of the euro against the dollar now I'm in absolute red.
The end should happen years are go now or never drop them forever
Nice film, but you can't have a serious discussion about the Euro failing without mentioning TARGET 2 imbalances.
People kept asking them since it started 20 years ago but never happened so far
It's terribly boring by now.
The great difference now is the war on ukraine , the real reasson of this are the eu sanctions against russia , and euro could fall to 0.70 on winter, without russian gas the economy will continue suffering.
@@MegaPablo57 Nah.
Wait
This guy : No one will bet against the Euro zone...
Me : (who went short on EUR/USD when the Ukraine invasion started ) 😆😆
I give it 5 more years...
That's what they said 20 years ago
@@tomlxyz
Exactly, and nothing happened.
@@vexversaa239 a few more wars from the US dragging the EU along will do it really
that long... hope that my country (NL) quits earlier
@@redwhite_040 Your economy is too internationalized to quit. But don't worry, Germany will do it for you as soon as they realize that the single currency has served its purpose.
For the best interests of Europeans, let us hope so. The EU is a construct engineered for the benefit of Germany and the Bundesbank only - no-one else can show any evidence that they wouldn't have had exactly the same economic results if they had been outside the eurozone. That is not my opinion, but the result of a thorough and controversial (for which read buried by the EU) study by a leading US economist.
Oh thanks. If you mention that this nonsense was said by a US economist, then there's no reason for us Europeans to debunk it anymore since 99% of what Americans say about Europe is deeply ignorant. Even the academics suffer from derangement.
I'm still waiting for the "coming collapse of the euro" as it was prophesized every year since its introduction. Or how Europe is allegedly running out of energy and destroying its industry. So far I have no problem heating my home and paying the bills with the euros I earned in my industrial job.
It is so funny to see all these negative reports about the euro and the europeans in general how they probably cannot afford bread in the near future. So happy to live in berlin and not in the us somewhere where i would be worried so much more about the future. Will see.
Why is she playing a puzzle?
What does europe have to back up their currency? The USD have American technology and military, the Yuan have China manufacture, even the GBP is helped by London being centre of banking service (including money loundry centre).
Wokeness and human rights
all of the above and more diverse, spread across all members?
well, UK is not just the financial center, but also de facto largest land owner in the world through the Crown. And also advanced manufacturing sector including tech.
While EU is backed by..... Herr Schmidt and Baguette
@@mikello007 all members?? lol what Tech does the Greek has?or Portugal?
@@saltymonke3682 as your example of US or China is not just the only thing you mentioned. Economies are complicated. I would argue if country is know for one thing only, it usually sign of not being diverse enough and usually gets in trouble if that specific part of economy doesn't do well.
Every country in EU do bit of everything, some specialise in certain fields more than others.
I don't know what exactly Portugal or Greece do, but from top of my head, Greece has one of the biggest shipping industry in Europe.
Now we are protesting on the streets….
Croatia will join it on January 1st 2023 and become the 20th member.
So euro is here to stay will be expanding to more countries such as Bulgaria Romania Montenegro etc.
Montenegro already uses the euro, albeit unofficially
Those countries may never join. While the EU says the Euro is mandatory its really not because to meet the requirements for joining countries need to join voluntary organizations. This is why Sweden doesn't use it, they have never joined one of the voluntary organizations and thus don't meet the requirements
@@AdamSmith-gs2dv they actually had a referendum and they will join it when polls started indicating an appetite for it. A lot of countries stopped the progress for adopting it is cause of 2008 and 2012 crisis and throw in 2020-22.
@@AdamSmith-gs2dv sweden, britain and denmark joined it at a time when EU was not that strong, denmark later pegged itself to euro, for britain and sweden they were considered too important and never were forced but now eu is trying to force these countries, I cannot say for sweden but certain countries like czech republic are actually under huge pressure to join euro.
@@grassytramtracks yep when they join the EU and become an official user they’ll be called 22th member or whatever, I think all three non EU but nato members of the western balkan will join the EU.
As soon as greece put out its debt fire then they were told to cut off their gas lines. They have to be pretty dang frustrated right now...
There are several other currencies are doing worse than the euro: pound, Japanese yen, Turkish lira, Argentinas pesos, why don't we hear the same thing about those currencies?
Pound is worth more
@@bob_0146 lol nope it’s very close to the dollar at the moment because the U.K. has a bunch of rich conservatives looting the economy at every opportunity. And who are clueless about fiscal responsibility.
@@bob_0146 u know that the pound lost like 29% in the last 20 years to the euro?
@@HohenEU ofc, to make British service and goods more competitive in the EU and elsewhere but not 29% since 20 years ago.
just like Swiss with its CHF, they intervene regularly to devalue their currency because of the money influx, otherwise their exports are less competitive with the afrench.
@@bob_0146 tell me you don't understand what currency weakness means, without telling me you don't understand.
Yes in few
Ah the standard "euro is collapsing" narrative. Almost a full year since the last one
If you actually watch it it doesn't seem to arrive at that conclusion.
@@gerhard7323 please don't bother me
@@luciferin22 I wasn't 'bothering' you I was informing you.
Of course should you ever bother to take the time to watch it you'll find that out for yourself.
@@gerhard7323 stop harassing me!
this is the last Christmas Euro together.
Did you just hand an iPhone out to random people to shoot this? The wobble cam and clumsy zooming at 0:30 and weird panning at 2:00 is really distracting...
LETS HOPE SO
if you view EU collection of countries like the US is a collection of states, states operate as a debt to gdp ratio of about 20%. But quite a bit higher in the euro area. I wonder when debt jubilee becomes real policy. who the hell are we paying back anyway? Mars?
In a word NO.
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"the European Union is a monetary union, it is not a Fiscal Union." Thanks IMF
as the people are robbed by usurpers who use usury (inflation rates) to oppress the people by devaluing the currency they use.
They are running out of manipulation leverage. Not even a war economy thru Sanctions
Except both is wrong. The European Union is POLITICAL union. The Euro Zone is a monetary and fiscal union.
@@u.s.navy_pete4111 thanks for correcting the term. The shoes have fallen off in Italy they seem no longer care
@@u.s.navy_pete4111 Eurozone is not a fiscal union
Excellent journalism! Thank you!
I never thought that this will ever happen. But with the Brexit and then Meloni winning the election. Seems like that will happen soon
Market makers against retail that's all. When 70%+ buybuybye= bye I'm bearish, 70%+ sellsellSir=I'm bullish lol. I'm buying quality companies with direxions ETFs tho, raise cash when spike and buy every dip. Sometimes it's bloody but lions loves blood! Big boys hate guys like me 😆
The end of both the EU and the Euro..
Stop being silly. The Euro has withstood multiple crises now.
The UK has the highest taxes for 72 years and its still broke, that tells you something is drastically wrong and it cant go on the same way in the future. We are not the only Country in this mess the whole of the EU is in a worse position
Nothing is worse than UK at the moment
fear... be afraid
Buy when prices go down. Meaning time to buy Euro.
Why would the debt endanger the euro. Debt is bought by investors, who should bear the risk. They should lose their money if they give bad debts. All this should be not related to the Euro.
Becuase investors are more reluctant to buy the debt if they feel it so large there is a risk of default on payments, so the more risky the more the interest on the payments.
if you give investors bad debt, your currency will be worthless in no time. Just ask Zimbabwe
Not confident in the euro. Great idea, but not sustainable
The sooner the better, this failed project has brought only misery to the European South.
Well, they put MARIO in charge of EURO, what do you expect?
Interesting! No one had this idea in Europe - well now that you're having a story America perhaps someone will start to talk about in Europe too! It doesn't seem any worse than usual - well, I guess you think that it's a story over there!
Euro, according to US and UK, was supposed to end 10 years ago, the same as the world end.. This crisis will pass and euro will regain against dollar again
you haven't got out of the Eurozone crisis lol. ECB is still doing QE even before the pandemic.
@@saltymonke3682 Yeah, that's why Europe had much lower levels of inflation in the 2010s and a great economic situation from 2014 to 2019 (in fact, if was not for the war, Europe would be growing a lot in the next years, much more than the US or the UK).
@@diogorodrigues747 great economic situation from 2014 to 2019???? hahahahahaha..... ECB was still doing QE until September 2019 after the 2008 recession and Eurozone debt crisis. Lower inflation? low inflation is a sign of low growth in an advanced economy, you need a controlled baby inflation to sustain growth, that's why US target inflation is 2%, not 0. Even Japan have tried to raise their inflation from deflation since 1990s. Eurozone GDP number is skewed by Leprechaun economy like Ireland, where their REAL GDP is just around 40% of their stated numbers due to tech giants and pharma transit profit scheme to Bermuda, same with Luxembourg and the Netherlands.
If EU economy is so strong, you don't need QE anymore like US and UK, last QE in US is in 2014. They're reversing QE ever since until the pandemic. UK economy however was still growing even during the pandemic when EU was not just not growing but also shrinking.
@@saltymonke3682 That QE thing ended in 2015, and the average growth of the EU from 2014 to 2019 was around 5%. Stop lying...
@@saltymonke3682 *low inflation is a sign of low growth in an advanced economy, you need a controlled baby inflation to sustain growth, that's why US target inflation is 2%, not 0*
Well, that's not always the case. Swiss inflation rates are mostly below 0% and they're not going bankrupt anytime soon. One of the reasons why the Eurozone has really low levels of inflation compared to most of the world is because the banks sell their own services in great times, controlling inflation since they don't depend exclusively on printing money. This is a completely different policy to the one used by the FED.
This video dosen't really explain why yield fragmentation is such a big problem for the eurozone...it is essentially the market expressing its confidence in different countries to make payments on coupons, no? Isn't this what you naturally expect, for more fiscally strong countries in eurozone (ie Germany) vs weaker ones (ie Greece)? If a country in euro zones bonds have much higher yeilds than its peers, I understand thats not great for the specific country, but why should that affect the others anymore than yields on US or Canadian debt, for example?
CNBC is pretty much garbage, but B
it's probably because US, Canadian, UK debt etc. are denominated in their own sovereign currencies, unlike in the Eurozone, where Greece does not have the ability to issue bonds in drachmas and get it's Central bank to buy them to soften the impact.
Tell me you didn't study economics without you telling me you didn't study economics. Ever heard of the world fiscal Union?
You wish.
The Euro is the best thing to happen to Europe in the last 100 years. Can't wait for my country (Croatia) to officially join next month, will be so much easier to travel (especially since we're also entering the Schengen area) and trade.
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Nice presenter
Fed is slowly decreasing M2 via redemption when their bonds expire. Meanwhile, Treasury needs to borrow $1.5T per year due to deficit. Drives bond rates at all duration from 2, year to 30 year. TLT lost >55%. Mortgage 30 year rates are at 8.5%. Going higher. End game is a recession. Euro will get her due to hi USA interest rates.