Europe, Covid-19, World Updates

Here is my personal comment on the much discussed eurobond for dealing with Covid-19 after effects in EE and Eurozone economies: ''#Germany saying no to a new eurobond requested by other member countries where Covid-19 is ravaging their economies, proves once again to have very weak memory. In 1953, 20 countries in London, agreed to help Germany with deleting 52% of its post war debt and reformed the rest of debt in accepting long term loans and payments only if Germany secured annual budget surpluses. If this agreement had not taken place, they would still struggle to lift up after WWII. EU is on the brink of dissolution.'' - Stathis Kassios

An interesting Chinese proverb which sounds like an oxymoron to my ears amidst this global health crisis:

<<Να προβλέπεις το κακό πριν συμβεί. Να βάζεις τάξη πριν ξεσπάσει ταραχή>> - Κινεζική παροιμία, από το βιβλίο της Stephanie Bessiere

Another interesting article via FP (Foreign Policy): The coronavirus crisis is exposing the West’s weaknesses—and adversaries of the U.S. and EU are paying close attention so they can exploit vulnerabilities in a future conflict. Click to read it here: https://foreignpolicy.com/2020/03/23/as-the-west-panics-putin-is-watching/?fbclid=IwAR0I9EUydNZPqt702jjv3409dajLLOv-duLxQPDcwTmEB7i4eHdFT7zJOrY

With the COVID-19 pandemic still spiraling out of control, the best economic outcome that anyone can hope for is a recession deeper than that following the 2008 financial crisis. But given the flailing policy response so far, the chances of a far worse outcome are increasing by the day. - Nouriel Roubini

Read the article here: https://www.project-syndicate.org/commentary/coronavirus-greater-great-depression-by-nouriel-roubini-2020-03