Eurozone Sentix Investor Confidence dropped from -15.8 to -26.4 in July, worse than expectation of -20.0. That’s the lowest level since May 2020. Current situation index dropped from -7.3 to -16.5, worst since March 2021. Expectations index dropped from -24.0 to -35.8, lowest since December 2008.
Sentix said: “In every respect, the dynamics are reminiscent of the crisis year 2008, and what was then the collapse of the financial system is now the danger of the collapse of the European energy supply. While the financial system essentially consists of money, which can be printed by its own central bank in any amount as needed, a lack of gas is not so easy to replace.
“Moreover, practically all sectors of the economy would be negatively affected by a gas or electricity blackout. So it is time for governments to realise the gravity of the situation and take effective countermeasures. One way or another, they cannot rely on the ECB this time. Rather, the states should rely on war diplomacy”.
