Taps Coogan – December 3rd, 2020
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The following chart sums up why the world can never quite move beyond questioning the long-term viability of the Eurozone.
The economic gap between Germany and other Eurozone economies like France, Spain, Italy, Greece, and Portugal has widened unrelentingly since the Global Financial Crisis and is wider now than when the Euro was adopted in 1999.
Technocrats and central bankers in the EU and elsewhere seem to be incapable of grasping how zero interest rates and centralized over-regulation lead to ‘winner takes all effects.’ Meanwhile, the countries and companies with access to unlimited free capital and who can manage every new layer of kafkaesque bureaucracy continue to vacuum up the competition.
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