UK economy to shrink by 20% in 2020

[BlasterBates]

Whereas the EU will shrink by about 4%

Bank of England: The UK economy is heading back into recession - CNN

Discuss.

[Paddy]

The EU is falling apart.

It's the EU's fault that the UK economy will shrink by 20%

What does it matter anyway, we have our independence, we will wait until the new US president tells Bojo what to do.

[Eirikur]

Fake news
The UK holds all the cards
The EU is begging for the UK to do a deal
German car manufactures won't survive without a deal with the UK

[GigiBronz]

It doesn’t matter if we can print our way through it. /s

[PCTNN]

and it will be entirely because of REMAINERS

[Old Greg]

Meanwhile, inside the moribund EUSSR:

Gross domestic product [in Ireland] is set to fall by just 2.5% this year and not the 10.5% estimated in April after the economy entered a far shallower recession than most of the euro zone.

While its large multinational sector shielded its public finances from the worst of the COVID-19 crisis, the unemployment rate is still set to average almost 16% this year and then drop to 10.7% during 2021, the updated forecasts showed.


Modified domestic demand, a measure that strips out some of the ways large multinationals can distort Irish GDP, is forecast to fall by a steeper 6.5% in 2020, though still far better than the 15.1% contraction seen in April.

Ireland sees far softer GDP hit in 2020, slower rebound in 2021 Ireland, news for Ireland, FDI,Financial,Ireland,

Having said that, unemployment here is shocking due to Covid.

[scooterscot]

The Euro currency is about to collapse, members state can't print - mad!


Italy draws €90bn of orders in stellar week for eurozone debt market



"Remember a few months ago, when our Eurosceptic 'friends' were betting against the situation in Italy: financial risk, high debt, low growth, messy banking sector etc. Here you go a well deserved middle finger from Italy."

ERG members must be

Italy’s sale of 30-year bonds drew strong demand on Thursday, locking in near-record low borrowing costs, in the latest sign of investors’ clamour for any eurozone debt offering extra yield above German Bunds.

The Italian Treasury received more than €90bn of orders from investors for the €8bn of debt on offer — second only to the €110bn of bids for two bonds sold in April. The debt priced at a yield of 1.76 per cent, the second lowest ever for 30-year Italian bonds.

The deal comes two days after the EU’s inaugural sale of bonds to fund its response to the Covid-19 crisis, which attracted record-breaking demand from investors. Although Brussels has a higher credit rating than Italy and offered lower yields, the €233bn order book for the EU debt demonstrated the hunger among investors for bonds offering a “spread” above Germany, which serves as a benchmark for debt across the euro area.

All German debt currently trades at sub-zero yields, with its 30-year bond at minus 0.18 per cent.

Bonds across the currency bloc have rallied in recent weeks, pushing their yields lower, on signs that inflation is lagging further behind the European Central Bank’s target of close to 2 per cent and that region’s recovery is faltering due to a surge in coronavirus cases. Expectations are running high that the ECB will respond by expanding its €1.35tn emergency bond-buying programme in December.

“I’m not sure the Italian deal would have materialised if the EU demand hadn’t been quite so strong,” said Antoine Bouvet, an interest rate strategist at Dutch bank ING. “I think there’s an overlap in the investor base for the two bonds, who see the ECB as a pretty warm comfort blanket to get out there and buy spread.”

[Paddy]

The Euro currency is about to collapse, members state can't print - mad!


Italy draws €90bn of orders in stellar week for eurozone debt market



"Remember a few months ago, when our Eurosceptic 'friends' were betting against the situation in Italy: financial risk, high debt, low growth, messy banking sector etc. Here you go a well deserved middle finger from Italy."

ERG members must be

Where is the graph?

[_V_]

They voted for it, hopefully it will kill them all, painful starving death, civil war, whilst we watch from afar and laugh at their suffering.

[scooterscot]

Please no refugees fleeing into Scotland.