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Europe: The Shock of Covid-19 and the Fear of Accelerated Zombification
- Proven 6y agoLet's state the obvious - the EU is a zombie union. > 15% of firms could be classified as zombies in 2017 Make that 25% today, and assume that's 25% of GDP - you're down to 75%. Deduct some 40% - wasteful and misallocated government spending - and you're down to 35%. The EU (national bond markets, political union, economies, the euro, etc.) can't survive a 10% drop in GDP. But close to 50% of GDP is unnecessary and waste. The longer the EU survives the longer it will take to recover from unavoidable collapse because more money will be wasted on stupid incentives, renewable energy and whatnot. It's only a matter of time.