Financial markets all over the world are faced with daily turmoil, and the compounding worries about European banks are only adding more fuel to the fire. Big banks have not been healthy for several years now, and things have not improved by much since the 2007 financial crisis. A combination of bank stocks crashing hard and looming worries about some banks defaulting on their debts will herald a new era of recession. Bitcoin seems to be among the only ways out, and embracing the popular digital currency is slowly becoming a necessity.
Also read: Bitcoin Used in Card Clone Scheme in India
Why You Need To Worry About European Banks
People living both inside out and outside of the European Union should take this time to start worrying about the banks located in this part of the world. Even though the US Dollar is still the global currency – for now at least – the ripple effect of a collapsing European economy will affect every corner of the world.
Right now, various banks are seeing their trading value decline, as their stocks are crashing hard on the markets. But that is only part of the worry, as there is a