March 20 – BLiTZ. The American banking crisis threatens to “come around” in Europe, up to the exit of a number of countries from the euro zone.
This opinion was voiced by Alexander Razuvaev, an economist and financial analyst. The expert believes that the United States provoked a crisis in the banking sector by raising the key rate.
“In Europe, yes, things are no better than in America. Moreover, there are many countries, but one currency. Maybe Spain, Italy, Greece will want to leave. Le Pen, when she was elected not this time, but the penultimate one, spoke of a return to the franc. Let’s see how it goes. Of course, the fact that we have been cut off from the global financial system has some advantages. Investments from unfriendly countries on the Moscow Exchange are frozen. There will be no sale. Accordingly, the shareholders of our information companies, conditionally, can sleep peacefully, ”the economist noted.
According to Razuvaev, there are frozen Russian reserves in the American banking system.
“The most important thing is different. If it goes like in 2008, when oil fell from 120 to 35, no one knows what will happen to oil and gas. China alone will not pull out the crisis. Oil prices are critical for our budget. Especially against the backdrop of frozen reserves. If they have such problems with money, they will not care about Ukraine. If their stock markets collapse, our market will be minus 40% over the past year. I will say that the system has come into equilibrium. In principle, they provoked this crisis themselves. They raised rates sharply and thereby devalued their long-term bond portfolio. There, the losses, the losses were paper, now, apparently, the losses are no longer paper. But you need to understand that the bank was engaged in start-ups. These are high risks. But there is a deposit insurance system, people will get everything,” the financial expert stated.
Drobnitsky said the collapse of two banks caused “shock waves” in the US economy March 18, 2023 at 05:11
BLiTZ wrote: earlier, Americanist Dmitry Drobnitsky said that the collapse of two large national banks caused “shock waves” in the US economy.
