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Britain is facing a potential €200 billion bailout bill if the eurozone needs a future bailout if a clean Brexit isn't delivered, the warning comes from the Brexit Coalition, a group of 29 pro-Brexit campaign groups.
The United Kingdom is set to leave the European Union on or before the 31 October 2019, but until we know whether the next Prime Minister is Boris Johnson or Jeremy Hunt as what exactly is their formal plan for Brexit, we cannot assume Brexit will go ahead on this date.
Deutsche Bank today is starting its redundancy of 18,000 employees around the globe as it fights to keep it business going.
#Eurozone, #Brexit, #EU
Will the Euro collapse, and if it does which countries will survive.
The European monetary union project will almost certainly fail as the project has become ideologically driven, the politicians will try to force this to work at any cost, but history shows when politicians try to force ideas against the markets it will always fail.
Comparing countries by their gold reserves, and ration of gold per capita, we can get an idea of which countries are best positioned to survive a total collapse of the Euro.
David Buik: Eurozone on brink of recession
The eurozone economy recorded its joint-weakest growth in four years this week in the latest of the dreary economic data to hit the bloc.
Italy officially announced on Thursday it had plunged into a recession, sparking fears it could have a crippling effect on the rest of the eurozone economies. Gross domestic product (GDP) in the 19 countries sharing the single currency rose by 0.2 percent for the final three months of 2018, meaning it was stuck on its slowest pace of growth since 2014.
David Buik, a markets commentator for Core Spreads, told LBC’s Nigel Farage about an economic slowdown: “0.2 percent strikes me that you are staring over the precipice of a recession.
“Italy, as we know, is in a recession -0.2 percent last time.
“Spain, funnily enough, ironically, is the best performing of the European economy and is up 0.7 percent in the last quarter. But then again, that is from an extremely low level.
“And dear old Blighty – here we are that everybody seems very happy to slag off – we are doing extremely well by comparison – not great but 0.3 percent up until the three months until the end of November.
Coming soon ...