Germany Faces Recession, Echoing Bitcoin Origin and Cryptocurrency’s Purpose

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Mark Mason

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Feb 24, 2017
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Germany Faces Recession, Echoing Bitcoin Origin and Cryptocurrency’s Purpose



The German economy is on the brink of another recession. This will be the first of such setback for Europe’s largest economy since the global recession which spread through 2006 to 2013, and hails back to the message created at Bitcoin’s genesis about a bank bailout.

This time, economic data coming out of Germany is not looking good at all. The monthly confidence index has dropped significantly, and company managers are really disturbed about what could happen in the next six months. The monthly confidence index has dropped, and the nation’s GDP has contracted by 0.1% in the past 3 months. The people’s fears were confirmed by Germany’s head of ifo, Prof Clemens Fuest. According to him, the forecast does not look good, and everything points towards a recession. Fuest said:
“Everything we see at the moment means there are ever more indications of recession in Germany, meaning two quarters of negative growth.”
 
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