Coronavirus: The Looming Collapse Of Europe's Single Currency

"Today, not a single European country is doing well, which means there is limited willingness for European countries to come to each other's aid. They are busy dealing with their own crises. Just witness how Italy has been left alone with its crisis by Europe and now rather gets its medical support from China...." "An almighty economic earthquake is in the making. In a few weeks or months, several large European economies will require bailout and assistance packages. These will be several times larger than anything Europe has seen. Yet no country, central bank or institution will be eager or even able to provide them.

Coronavirus: The Looming Collapse of Europe's Single Currency

As the coronavirus unleashes economic shockwaves across Europe, the European single currency, the most visible symbol of European unification, is facing collapse.

The eurozone — a monetary union of 19 of the 27 Member States of the European Union that have adopted the euro as their common currency — is being buffeted not only by the prospect of a deep and long-lasting recession. Northern and Southern European countries are also feuding over possible financial support for Italy and Spain, the EU's third- and fourth-largest economies, which have been especially hard hit by the coronavirus. -Full Report