They haven’t gotten over Financial Crisis 1 and the Euro Debt Crisis. Now there’s a new crisis. Deutsche Bank’s CEO going on TV to soothe nerves didn’t help matters.
“First sector to be afflicted by the virus crisis and, unlike other crises, likely the last to recover from it.” And these economies are still incredibly fragile, even eight years after the last crisis.
“If the situation of generalized panic continues, thousands of businesses, especially small ones, will first enter a liquidity crisis, then close their doors.”
