Is the Eurozone debt crisis coming back to haunt the Euro? - FXStreet
Is the Eurozone debt crisis coming back to haunt the Euro? - FXStreet
Source: FXStreet
―
DW NOTE
The eurozone ran cumulative deficits of €1.5 trillion during COVID and has no federal taxing authority to service them. Germany spent 2% of GDP propping up its energy-intensive manufacturers after the Nordstream closure, France breached 5.5% deficit limits for three consecutive years, and the ECB's balance sheet is still €7.1 trillion — 65% of eurozone GDP. The crisis never left; it was just refinanced at zero rates that no longer exist.