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Debtcrisis

All articles tagged with #debtcrisis

economy8 hours ago

Dimon: Global debt will bite eventually as deficits mount

JPMorgan CEO Jamie Dimon warned on the company’s earnings call that governments worldwide must confront large deficits, cautioning that debt will eventually bite if borrowing continues unchecked, even as near-term economic indicators look solid. The piece highlights U.S. interest payments, CBO deficit projections for fiscal 2026, and who holds U.S. debt, noting vast holdings by central banks and foreign buyers while Dimon emphasizes focusing on clients rather than predicting outcomes.

via Fortune|
#debt#debtcrisis#economy
economy1 year ago

Russian Ruble Plummets Amid Economic Strain and Public Concern

The Russian ruble is experiencing a significant decline as the country's war economy faces mounting pressure. Simultaneously, Europe's single currency is also under strain due to internal economic challenges and political instability, with markets looking to the European Central Bank (ECB) for solutions. The ECB warns that a lack of growth could reignite the eurozone debt crisis, exacerbated by higher interest rates and potential trade wars. These economic issues are compounded by political tensions, including the influence of figures like Trump on European economic policies.

via POLITICO Europe|
#debtcrisis#ecb#economy
business-and-finance2 years ago

"Zhongzhi Shadow Bank Bankruptcy Shakes China's Financial Sector"

Zhongzhi Enterprise Group Co., a major player in China's shadow banking sector, has filed for bankruptcy amid the country's ongoing property crisis. The firm, which once managed over $140 billion, admitted to a significant inability to repay its debts, with liabilities ranging between 420 billion yuan to 460 billion yuan, far exceeding its assets of 200 billion yuan. The Beijing court has accepted the bankruptcy case, highlighting the financial turmoil affecting the Chinese economy.

via Bloomberg|
##business-and-finance#chinashadowbanking