15/09/17

Trying to Save the Euro from Total Disaster



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Trying to Save the Euro from Total Disaster
// Silver For The People

armstrongeconomics.com / by Martin Armstrong / Sep 15, 2017

European Commission President Jean-Claude Juncker has now come out in a very desperate move telling that those members of the EU who are non-euro countries should introduce the euro ASAP. "The euro is destined to be the single currency of the EU as a whole," Juncker declared. Juncker then proposed a "euro preparation instrument" to provide technical and financial assistance to make this transition.

The Euro is in serious trouble because of the total mismanagement of the ECB. Low to negative interest rates have totally failed to stimulate the economy after almost 10 years. Now that rates must rise to try to avoid a massive pension collapse in Europe, the ECB could suffer a major default and will need to be bailed-out itself by the government since it owns 40% of euro-zone debt.

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