no wonder they're pushing the whole we just joined NATO news, trying to drown out stories like this, I guess they're saving grace is that they have their own national currency so less friction about issuing more to paper over these things in the medium term.
I guess when you go from negative interest rates up to 3% even though it seems small the amount of borrowing makes those servicing costs impossible for many a business and I guess households, wonder how defaults on consumer debt is doing, home, auto and credit card, can't be looking pretty either
yes, you're absolutely right. the whole club is built on zero interest rates. now none of what they want can be financed anymore
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