logo

FX.co ★ EU on track to Soviet-style collapse

EU on track to Soviet-style collapse

EU on track to Soviet-style collapse

The European Union is likely to introduce a mandatory fee for everyone who has more than $100,000 on their bank accounts. This will finally turn the EU into totalitarian alliance with low protection of property, similar to the USSR. This outlook was reported in Saxo Bank’s in its annual set of 'Outrageous Predictions' for 2014. Every December Saxo Bank puts out ten predictions for the coming year.
Particular, the bank’s analysts suppose that anti-EU alliance is taking shape. Also, the outlook includes Japan that will cancel its government debt and French CAC 40 that will drop 40%.
Other predictions of the Saxo Bank touch upon recession in Germany, deflation in the U.S., the fall by 25% of the currencies of Brazil, India, South Africa, Indonesia and Turkey; the plummet in tech stocks Amazon, Netflix, Twitter, Pandora Media and Yelp as well as the drop of Brent crude to $80 per barrel (now it is about $110).
The probability of any one of the predictions coming true is low. They are rather jokes deduced strategically by Saxo Bank analysts based on a series of events in 2013. Thus, the idea of the EU turning into a Soviet-style economy was based on deposit cuts in Cyprus; as a necessary anti-crisis measure, Cyprus was forced to freeze accounts of more than 100,000 euros in early 2013.
In 2013, Saxo Bank also suggested that German DAX would fall threefold (it however rose in reality). It also forecast crude oil price to drop to $50 per barrel as well Sharp, Panasonic and Sony to be nationalized.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Open trading account