Source: Pexels
Reading time: eight minutes
On July 10, Bulgaria and Croatia were officially welcomed into the ERM II—the European Union’s Exchange Rate Mechanism. If you are wondering what makes this event so important, how the ERM II works in practice, and what are the benefits of adopting the euro as a national currency, keep on reading.
Source: Pixabay | Owner: Maklay62
Reading time: four minutes
Last Tuesday, 13.07, three of the biggest banks in the United States—JPMorgan Chase & Co, Wells Fargo & Co and Citigroup Inc—set aside a grand total of $28 billion to prepare for potential defaults on loans expected to rain from both individual and corporate clients. According to Bloomberg, the last time such an amount of money was set aside to deal with bad loans was during the Great Recession of 2008.
Source: Pixabay | Owner: MasterTux
Reading time: six minutes
The world has entered the second half of 2020 just as troubled (if not more so) as it did in the first half. And as financial forecasts grow grimmer by the day, one thing is starting to become painfully clear to all—we might not see a full recovery in 2020, and even one happening in 2021 would depend on a lot going right.
Source: depositphotos.com
Reading time: ten minutes
The COVID-19 pandemic and the effort made on behalf of governments to keep the situation under control led to astounding expenses for all nations across the globe.
In the first quarter of 2020, China’s economy shrank by 6.8% year-over-year. Soon, it was followed by the Eurozone, whose finances also shaved off 14.8% compared to last year, as well as by the U.S. with its year-over-year decline of 4.8%.
Source: Depositphotos
Reading time: five minutes
For the past several months, the Chinese government has been hard at work to create an electronic equivalent of its national currency—the Renminbi. If successful, the e-RMB will become the first digital currency to be officially used by a leading economic power.
With that said, there are growing concerns that Chinese officials might abuse the power that comes with a state-backed digital currency to further their nationwide surveillance efforts.
Source: Pexels | Author: Anna Shvets
Reading time: 10 minutes
If we can all agree on one thing, it’s that the world will never be the same after COVID-19.
It has been estimated that the better part of the global population currently faces travel restrictions, about 25 million people in aviation and a 100 million more in the travel sector are at risk of losing their jobs, and the world is still reeling from the billions upon billions of lost profits. In unprecedented times like these, many are wondering if the days of travel as we remember it are over.