The confidence of investors in the Eurozone has dropped to its lowest level since October 2014. The European Union has not been negotiating from a position of economic strength.
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August saw confidence levels fall to their lowest in nearly five years, according to survey data from Sentix.
As they explain: “The Sentix economic index for Euroland drops by a whopping 7.9 points to -13.7 points. This is the lowest level since October 2014.
“The measures announced by the central banks have not caused economic expectations to turn around. On the contrary, the current situation and expectations are literally tearing down, and the pace of deterioration is on the increase.
“In Germany, the overall index is even falling to its lowest level since October 2009. A recession in Germany is inevitable. The other regions of the world are also struggling with large discounts.”
The Sentix index of economic confidence says it all: the hardline stance taken by Brussels throughout the negotiation isn’t matched by economic reality. Questions will be asked as to how the EU failed to strike a sensible UK trade deal if the government stand firm and deliver No Deal.