The economy of the EU is in big trouble. ECB president, Mario Draghi, has suggested that he is going even deeper into negative interest rate territory in the effort to spur growth. The only growth in the EU is in migrants – migrants who don’t work but who immediately go onto welfare. Most with zero plans to ever get off welfare.
Needless to say, that does not spur economic growth.
Italy is on the path to their own bonds – mini-BOTs – in violation of EU rules.
Italy seems likely to be on the verge of extricating itself from the Euro. Does that mean a severance from the EU itself? I don’t know, but if it does it will hit hard. Italy is the fourth largest economy in the EU. The EU cannot hold together its ramshackle political and economic construct much longer. It is on the ropes.
Will there still be an EU left to withdraw from when the UK government finally get dragged, kicking and whining, to the electorate’s wishes? The UK is the second largest economy in the EU.
Meanwhile, Turkey’s economy is even worse than the EU’s, which means that more migrants will be heading into the Eurozone.
It has always been clear, that the migration problem in Europe would just continue to fester until such times as the EU economies ran into serious trouble. The mass unemployment resulting from that would then be the catalyst for an explosion of violence.
We may be very close to that point.
Oh, by the way, the US and Iran may be about to go to war.
The dollar bid on Gold is rising strongly.