The European Union which was once the upper hand of the global political class is now heading towards the hell of economical recession which is yet another major and brutal setback especially on the economic front when the Brexit has finally taken place and the UK is officially not part of the EU.
The Euro group of politicians plus clergymen is attempting to concur on a macro-economically facilitated financial recession thanks to the gigantic recessionary impacts of the COVID-19 pandemic. The outcome we can expect will be gallant declarations proclaiming noteworthy numbers that mask the unimportance and meekness of the concurred economic strategies of this directionless continental block of nations.
The primary sign of this situation originates from the ongoing declaration of the German government's money related boost fund to the private sector. While the global media alluded to it as a €550 billion ($600 billion) bazooka, close review done by the economists recommends it is close to a water gun.
Involving charge postponements and enormous credit lines, the German government uncovers a genuine misconception of the idea of the economic emergency.
Furthermore, it is a similar misconception that turbocharged the Euro emergency 10 years back. Presently, as at that point, organizations and family units are confronting bankruptcy, not liquidity.
To capture the economic emergency panic, governments must go "all in" with astounding monetary extension. In any case, that is actually what the European Union was looking to dodge.
Finance ministers from European nations come in a difficult situation than Germany (for instance, Italy and Greece) will without a doubt attempt to push for the fundamental monetary extension strategy ahead.
Europeans are not moronic. Regardless of whether they don't know precisely what goes on away from public scrutiny in Europe's economic bodies, they can detect that the subsequent choices neglect to utilize existing assets in light of a legitimate concern for a dominant part of Europeans which share and contribute to the EU economy.
The EU's choices, particularly during this COVID-19 pandemic, on financial jurisdiction, green energy, well-being, governance and relocation of resources strategy will undoubtedly be as inadequate as those that amplified the euro emergency ten years prior.
USA has Donald Trump as it's savior while the Russia Federation has the ultimate president Vladimir Putin and even India is having Prime Minister Narendra Modi but what about the European Union? Who is gonna lead them?