battered financial systems and long-term whatsapp phone number list concerns create further concern. Many American industries and households are heavily indebted. In China, the informal financial system, real estate and state-owned companies, whatsapp phone number list and the provinces are racking up heavy debts. European banks have not yet recovered from the financial crisis. The economic collapse in Italy could fuel the euro crisis again. The fear of the collapse of these houses of cards is evident in the flight of investors towards safe government whatsapp phone number list bonds. The corona crisis could set off a chain reaction that would end in a global financial crisis. However, unlike the financial crisis of 2008, central banks are not ready this time to pull the chestnuts out of the fire.
So far, interest rates are moving whatsapp phone number list within historical lows in all major economies. That is why the US Federal Reserve began to provide liquidity directly to the markets through repos. The new head of the European whatsapp phone number list Central Bank, Christine Lagarde, had some stumbles in initial reactions to the European crisis, sparking speculation about the cohesion of the eurozone. However, through coordinated intervention, all the major central banks have shown determination to deal with whatsapp phone number list the panic in the markets.
The crucial whatsapp phone number list question, however, it is whether it will really be possible to overcome the coronacrisis through monetary policy instruments. This essentially depends on the nature of the crisis. Democracies whatsapp phone number list have to comply Because the crisis is by no means limited to the realm of the economy. The ability of states to protect the lives of their own citizens, whether alone or in concert, is also whatsapp phone number list put to the test, no less than the basic legitimacy of the Leviathan.