Wild World – Dr. Adrian Pabst Interview
... and European sovereign and corporate bonds. This historically unprecedented ‘savings glut’ flooded the markets with cheap money. This, coupled with low interest rates across the whole eurozone, fuelled credit and real estate bubbles in the USA and Europe, which burst in 2008-9 amid the global ‘credit crunch’. At first, this led to a pan-European banking crisis, followed by a sovereign debt crisis triggered by Greece’s unsustainable public deficit and debt levels in late ...