Search

EUROPEAN AUTHORITIES ARE CREATING A “ZOMBIE ECONOMY”

... decade, which has been recently called "lost" by the World Bank. In this situation, attempts to prevent a surge in mass unemployment through the subsidies from the state treasury to companies mired in debt may lead to the creation of a "zombie economy." Now there are more and more companies that do not have the opportunity to invest and introduce innovations that exist exclusively thanks to the government subsidies. This has been recently announced by the co-chairman of the European Council on Foreign Relations and former Prime Minister of Sweden Card Bildt. The diplomat called for abandoning the policy of expanding government subsidies that reduce the number of bankruptcies, because such actions stimulate the emergence ...

Sorted by relevance | Sort by date