Tales From Europe: Eurozone Crisis Shows The Argument For Bitcoin
The very thing suppressing bitcoin’s price in the short term is exactly what can make it so valuable in the long term.This is an opinion editorial by Dan Ashmore, financial analyst, journalist and contributor to Bitcoin Magazine.EuropeWithin financial and macroeconomic circles, it can sometimes feel like the USA is the only country in the world. Inflation data is accepted as the CPI reading in the U.S. The stock market is the S&P 500. The currency is the ever-dominant dollar.On this note, you don’t need me to tell you that the market environment right now in the U.S. is abject. Inflation....
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Europe is suffering and struggling to contain an energy crisis according to various reports that say the eurozone might have to deal with a cold winter that could lead to energy rationing and blackouts. A recent survey published by the General Confederation of Greek Workers (GSEE) shows seven out of ten Greeks purchase less food in order to pay for energy costs and fuel. Moreover, Hungary’s prime minister Viktor Orban explained in a social media post on Saturday that “Europe has run out of energy.”
EU Deals With Ongoing Energy Crisis — Hungary’s....
Europe, like the rest of the world, has struggled to emerge from the recent financial morass. Tough decisions have been taken and the economic indicators emerging are somewhat promising. However, recent actions of the European Central Bank (the ECB) are causing concern amongst external observers. The ECB is, essentially, the Central Bank for the Eurozone area. In order to ensure the ECB's independence it is allocated its own budget and Governors are appointed for a minimum period of 5 years, members of the board are appointed for a non-renewable term of eight years. This security of tenure....
The Eurozone’s inflation rate reached a record high in August of 9.1%, the highest ever recorded in history, according to Europe’s statistics office Eurostat. The rate was higher than economists suspected and most of the rise was fueled by Europe’s rising energy prices. Europe’s Torrid Inflation Continues to Rise, While the Region Faces an Energy Crisis Currently, Europe is suffering from the highest inflation rate the euro area has seen in almost 50 years, and each one of the members of the monetary union has seen red-hot consumer prices. Just recently, Reuters....
Bitcoin experts have long understood that political uncertainty is great for the growth of the cryptocurrency, at least in the near future. This is why the Italian referendum and the victory of “no,” has created speculation that the resignation of Italian Prime Minister Matteo Renzi would increase the price of Bitcoin to $800. Italexit. Bitcoin may grow in the near future, as several investors believe that the vote of “no” is a signal of instability within the Italian financial sector, which could lead to a decision for Italy to leave the Eurozone (Italexit). This “bad” news for Europe may....
Eurozone inflation is up from 8.9% in July as the continent faces skyrocketing energy, gas and food prices due to the ongoing crisis in Ukraine. August marks the ninth consecutive month of rising inflation for the Eurozone at 9.1%. In July, the official inflation numbers landed at 8.9%. The Eurozone consists of 19 countries, including Germany, France and Belgium. This comes as the European Union (EU) faces a massive energy and gas crisis, largely as a result of the ongoing conflict in Ukraine. Current prices for daily necessities such as food, gas and electricity have soared across the....