Friday 13 May 2016

Trusting the EU's financial markets and institutions

Recently, the EU was hit by a major financial crisis, which became an economic crisis and eventually a debt and a social crisis. 4 for the price of one, however as usual during crises not many people like the aspect of losing their investments, savings and jobs. And has anyone seen a banker thrown in jail for his/her part in the crisis?

Time to have a debate on how to restore trust in the EU's financial institutions - the ECB being the most important one. At the World Economic Forum in Davos, Switzerland, some important people discussed this very topic earlier in 2016.


Some like to see Iceland as an example: unemployment is low, the debt to GDP ratio already started to fall in 2012, there's a very narrow budget deficit and a number of bankers put in jail. However, many hard-working Europeans never saw their savings back... Which was not the case for Greece. Making you wonder whether Iceland could have refused to pay the savings if it was in the EU.

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