With the EU Finance minister Mr Draghi in disarray on how to tackle the EU economics I would like to say, that I said this years ago ' the ECB /EU cannot tackle the finances of an individual country by having a centralised decision unit'.
So they are now panicking about disinflation/stagflation and reduced the Bank lending rate by 10 basis points, which means that the only way for the ECB to be able to make money on lending at -0.4% is for the rate to fall lower. Having a negative interest rate means that the Lender is paying the borrower to take money.
With all the refugees and immigration aspects you can imagine that economic woes will be transferred to other countries, which in turn means it will get a lot worse.
On top of this the EU wants to give Turkey double the money they are being offered now for taking more refugees.
All this means is that Turkey will take the money, eventhough they are NOT in the EU and let the refugees to keep coming!!
The EU really are stupid!
So they are now panicking about disinflation/stagflation and reduced the Bank lending rate by 10 basis points, which means that the only way for the ECB to be able to make money on lending at -0.4% is for the rate to fall lower. Having a negative interest rate means that the Lender is paying the borrower to take money.
With all the refugees and immigration aspects you can imagine that economic woes will be transferred to other countries, which in turn means it will get a lot worse.
On top of this the EU wants to give Turkey double the money they are being offered now for taking more refugees.
All this means is that Turkey will take the money, eventhough they are NOT in the EU and let the refugees to keep coming!!
The EU really are stupid!
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