Europe Faces Biggest Shock Since Financial Crisis, and It's Too Late to Stop it, Crypto Coins News
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According to ECB head Christine Lagarde, the European Union faces its most severe economic shock since the financial crisis as coronavirus spreads across the continent.
European leaders are scrambling to contain the situation, but their efforts are too little, too late.
German Chancellor Angela Merkel admits the situation is out of control. She predicts coronavirus could infect – % of Germans – even as the death rate tops 6% in Italy.
Despite the writing on the wall for a European recession, most analysts expect Lagarde’s ECB to stimulate the economy through monetary policy. But with interest rates already at -0.5% , the Bank’s options are limited.
European policymakers will have to rely on fiscal stimuli like tax breaks and other incentives to soften the blow of the inevitable coronavirus recession – but its too late to stop it.
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