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Home / Business / Europe in crisis, Germany in crisis: Andy Brenner

Europe in crisis, Germany in crisis: Andy Brenner



The health of the largest European economy is in trouble as Germany stands on the verge of recession.

A decline in exports dampened the German economy, which shrunk by 0.1 percent in the second quarter of 2019.

"Germany is in a terrible state with negative GDP this week and with the expectation that there will be another negative GDP in the third quarter, Germans will be forced to open their pockets and set fiscal stimulus" said Andy Brenner, head of NatAlliance Global Fixed Income Liz Claman of FOX Business on Friday.

"In crisis mode in Europe."

Andy Brenner, Chief of NatAlliance for Fixed Income Securities

Concerns over a recession are said to have put the German government under pressure to drop its commitment to balance-budget or Black Zero-rule, and finance more fiscal stimulus with new debt. The 1

0-year Bund yield of the country, which reached a record low earlier in the day, reacted to the stimulus and recovered slightly.

"It's the crisis mode in Europe," Brenner said. "And even you had one of the European governors who came out earlier this week and said that they will give us a shock and awe on September 12th."

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The Brenner added to Europe's shortage Control over the US-China trade war will most likely lead to a global recession.

"I think that Europe will suffer a lot of damage and I see no solution in the short term." he said.

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