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MacroVoices #345 Daniel Lacalle: The Situation in Europe is Worse Than You Think

Macro Voices

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The European Union's 'Misguided' Measures

The European Union was already coming from not a particularly good recovery the recovery was much slower than that of the United States or the developed nations also in terms of productivity growth very very poor so that in itself was a bad start. When the Ukraine crisis started the European EU seemed to be implementing a number of measures that seemed to forget that the world exists and that you cannot basically isolate Russia because there's an entire east to which it can continue to sell its commodities. So most of the measures were implemented believing that the European Union could have some sort of policy change that would make it inevitable for the Russian economy to collapse.

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