Negative real rates are negative real rates. The yield has been dropping in the Euro area for twenty years: * https://www.ecb.europa.eu/stats/financial_markets

Negative real rates are negative real rates. The yield has been dropping in the Euro area for twenty years: * https://www.ecb.europa.eu/stats/financial_markets_and_interest_rates/euro_area_yield_curves/html/index.en.html https://www.ecb.europa.eu/stats/financial_markets_and_intere... For a while you could get mortgages with negative rates: * https://www.theguardian.com/money/2019/aug/13/danish-bank-launches-worlds-first-negative-interest-rate-mortgage https://www.theguardian.com/money/2019/aug/13/danish-bank-la... Too much spending has generally not been Europe's problem.