Financial trouble has been brewing across the Euro zone for some time. Germany is one of the first countries to force its negative interest rates upon regular consumers.
Many people aren’t aware of how all European countries have dealt with negative interest rates for years.
Negative Interest Rates are Problematic
The ECB has been forcing these rates upon countries for up to five years now.
In most cases, that would only affect the wealthy with over 100,000 euro in their savings account.
In Germany, that situation has now come to change in dire fashion.
Starting this week, the verdict will become more apparent across all German banks.
Although some banks have already implemented this feature, it remains to be seen how others will respond.
Those not enforcing this new rule could face a lot of problems in the near future.
It seems logical to assume that Germans will begin looking for alternative solutions regarding their savings.
That will probably not mean there will be an increasing interest in Bitcoin all of a sudden.
Most people will either pull their money out, move it to another country, or stick to traditional investments and precious metals.
One cannot forget Germany is the one country where LocalBitcoisn was officially forced to shut down over regulatory concerns many years ago.
The financial situation is slowly getting out of control in Europe, yet there is no real improvement in sight at this time.