Some safe haven! Remain’s ace in the hole was supposed to be the prosperity provided by the EU. Are you kidding? That ship has sailed! Stock markets across Europe have plunged into the red amid growing fears over the EU economy and the failure of the ECB. (the European Central Bank). Yesterday it was confirmed the region is stuck in deflation, meaning prices in Europe are overall falling in what is seen as a sign of weak consumer demand and ailing economy. Today manufacturing data has now disappointed onlookers with Spain, Italy and France all struggling to maintain growth.
Much of Belgium and France has ground to a halt because of riots and rolling strikes. Italy has stagnated since the financial crisis of 2008 and its banks are broken.
Earlier this week, panic over the stability of Spanish banks hit fever pitch yesterday, exposing yet another rupture in the financial system holding the eurozone together.
The IMF reports that in the eurozone as a whole, banks, including most of the German state banking system, have 9 billion euros of bad debt. In Greece and Spain, youth unemployment stands at 50%.
The Daily Mail says “These are not forecasts, but grim facts. Yet Remain still wants to present the EU as synonymous with prosperity.” The EU is a failing body desperate for us to prop up the euro.
The EU’s dismal trade record destroys the economic argument for Remain says the Telegraph.
That Remain has won the argument on the economy is the biggest lie of all.