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EUROPEAN AUTHORITIES ARE CREATING A “ZOMBIE ECONOMY”

... ruined. This painful process is necessary, believes the expert, so that competitive sectors of the economy can develop. A possible wave of bankruptcies, he believes, is not so bad, as it provides a process of "creative destruction of the resurgent economy." In contrast to European countries, in the United States, the number of applications to protect companies from bankruptcy in the third quarter of 2020 reached its highest level in the last decade. According to experts from the American law firm Polsinelli, which have compiled the corresponding bankruptcy index, this trend will continue in 2021. At the same time,...

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