Empty Venice
Posted on 03/09/2020 11:18:41 PM PDT by aquila48
Italy’s crisis could soon become unmanageable, potentially causing mayhem in world financial markets.
Italy needs a €500 to €700 billion ($572 billion to $801 billion) precautionary bailout package to help reassure financial markets that the Italian government and banks can meet their debt payment obligations as country’s economic and financial crisis digs in and becomes more fearsome.
Just as the human costs of the coronavirus have grown alarmingly, Italy’s crisis could soon become unmanageable, potentially causing mayhem in world financial markets.
This can’t just be left to the eurozone nations. Not only the International Monetary Fund but even the U.S. will need to be involved, perhaps, with a line of credit in case the rescue requirements escalate.
Time is short. Germany and France, the 19-member eurozone’s two largest economies, are themselves about to experience rapid spread of the virus, and their economic and financial systems are already under acute stress. If pushed to entirely bear Italian risks, they may face unpleasant credit downgrades.
Italy, the bloc’s third-largest economy, has long been the eurozone’s fault line. And, as physicist Per Bak wrote, when one fault line breaks, other cracks weaken, causing a cascade of earthquakes.
Virtually every international and domestic economic force is arrayed against the country.
........
By late last year, falling world trade had pulled Europe into near-recession.
(Excerpt) Read more at marketwatch.com ...
Empty Venice
Also, there's a burning cigarette in that signore's hand. lol
That’s why they fought so hard to try and keep Britain the EU.
We may find out why international debt is not a good thing.
It’s a worldwide conspiracy to kill themselves...to get Trump.
Just ask the stupid people on FR and they’ll tell you it’s so.
One of the cams is Hotel Filu, i kid you not.
Make the filthy Communist Chinese government pay for all costs associated with their bio-engineered virus.
“It’s a worldwide conspiracy to kill themselves...to get Trump.”
Your question, in response to my assertion, indicates you believe the above statement to be true.
What are you asking me?
Shouldn’t Communist China pay the bill?
That’s not a question, that’s an assertion.
Stupid.
Geez, libtards these days...
Why not 10 trillion?
That will be what they ask for when the entire EU falls into a recession.
Fire up the printers, we need more money!
The Germans broke them. They should fix them.
Totally correct. The seizure of all the accounts and assets of the Libyan govt, in 2011, gave the Italian banks a bail out, but then they drifted back into unplayable debt.
And it is not just Italy. Lebanon's banks are failing, and the govt is about to default on its international debt. Even for countries which have no direct dealings with Lebanon, there will be knock on effects.
For the last 12 months, even Deutch Bank, formerly one of the strongest in Europe, has had its share price slashed, and is known to have massive problems with toxic assets.
The drama over the corona virus makes it look as if this is a natural disaster, but the banking/credit crisis has been looming for some time. A decade of record low interest rates solved nothing, and in some ways we never came out of the 2008 crisis.
It is almost as if they have sprung the Corona virus on us, to give an excuse for their failings, and an opportunity to seize control and re-set currencies and economies. ...
> Make the filthy Communist Chinese government pay for all costs associated with their bio-engineered virus. <
The rest of the world would probably agree with that. But wait. ChiCom operatives will spread the word that holding China responsible is racist.
So never mind.
Never let a crisis go to waste, an opportunity to get us taxpayer dollars.
Have a lime wedge with your beer virus and stop fearmongering.
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