Debt crisis was  originally a century-long challenge, but now it has become more difficult, because COVID-19 recession deepens the crisis and poses threat to global financial stability.

According to Economist and Nobel Memorial Prize recipient Joseph Stiglitz :“Unless you provide some kind of sustained support, the $3 trillion (£2.36 trillion) in the United States that we’ve already provided will have been for nothing. Of course, the high level of spending and high level of deficit mean we have to make sure the money is well spent; we have to make sure our programmes are well designed.”

“Part of being well designed means we have to be sure our money does what I call ‘double duty’ in which it will help create the kind of economy we want after the pandemic. This means we have to have responsible public investment,” adds Stiglitz.

Therefore, as a result, negative interest rates cannot ensure a rapid recovery from the COVID-19 recession nor can large scale asset purchases. High jobless rates and possible second Covid-19 outbreak may trigger another subprime mortgage crisis .Our Fin-Tech innovation provides a practical and effective method to solve these problems. Please support us, as we are the best prepared solution to stop this fiscal disaster!