Why This Could Be the End of Europe as We Know It
- Why This Could Be the End of Europe as We Know It
by https://www.caseyresearch.com/
The world’s biggest economy is unraveling.
Regular readers know we’re talking about the European Union (EU). The EU is an economic union made up of 28 countries. It was put together after World War II to keep European countries from going to war with one another.
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Over time, it turned into the world’s biggest economic experiment. And, right now, that experiment is going awry.
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As you probably heard, the United Kingdom voted to leave the EU a month ago. The “Brexit,” as folks are calling it, shook financial markets from London to New York City. It knocked more than $3 trillion from the global stock market in two days.
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Then, things calmed down. Over the past three weeks, global stocks have regained more than $4.5 trillion. The S&P 500 and Dow just hit new all-time highs. Many folks now think things are OK in Europe.
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As you’re about to see, things aren’t fine. That’s because Europe now has a much bigger problem than the Brexit. Italy, Europe’s fourth biggest economy, is racing toward a full-blown banking crisis.
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Today, we’ll show you why this isn’t just a problem for Italy. It’s a serious threat to all of Europe. One of our analysts even says Italy’s banking crisis could trigger the end of Europe as we know it.
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• Italy’s banking system is a disaster…
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Financial Times reported last week:
The amount of gross non-performing loans held by the [Italian] banks increased 85 per cent to €360bn in the five years to 2015… The total stock of bad debts — the most distressed part of the pile — more than doubled over the same period.
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