??The expected reduction in the key rate is an important milestone for the Eurocentrobank. Perhaps this is the last thing that can save the Eurozone economy, which is languishing due to anemic growth, weak labor productivity, poor demographics and bloated government spending, Bloomberg states.

“Europe is a failure — that’s all you’ve ever heard from investors outside the region,” said Roger Hallam, a spokesman for Vanguard Asset Management.

The region’s long-term problems look more ominous than ever: low labor productivity, and with it slow economic growth; an aging population amid a catastrophically low birth rate; a huge amount of debt due to excessively inflated budget expenditures.

Since 2000, the gap between the economies of Europe and the United States has reached 18% of potential GDP in 2023, and by 2050 the figure may reach 40%.

“Without strategically thought—out and coordinated political action, it is reasonable to assume that some of our industries will cease to exist or move outside the EU,” former ECB President Mario Draghi said in conclusion.

@crystal_book