/biz/ - Business & Finance

>>18389003
you can just take 2008-2020 and copy-paste it to 2020-2032
EU will never recover from this

>>17113481
does it really matter?
I worked in many eu countries, all of them are going to shit, north eu is no exception
EU lost more than 20% compared to US and China in the last years
China does double digit deficit spending and they are buying half of EU infrastructures
Meanwhile EU push for austerity and make it very clear with Stability and Growth Pact (SGP)
3% maximum deficit spending, which is totally non-sense at the best
>Guy Abeille, age 62, a former senior Budget Ministry official and “the inventor of the concept, endlessly repeated by all governments whether of the right or the left, that the public deficit should not exceed 3% of the national wealth,”told the newspaper —
"We came up with the 3% figure in less than an hour. It was a back of an envelope calculation, without any theoretical reflection. Mitterrand needed an easy rule that he could deploy in his discussions with ministers who kept coming into his office to demand money. [...] We needed something simple. 3%? It was a good number that had stood the test of time, somewhat reminiscent of the Trinity."
THIS IS FUCKING KILLING EUROPE