This will furthermore result in a sharp decline in the flows into sovereign wealth funds and given the fiscal deficits could result in significant sell off by these funds. The lower oil prices may also accelerate the build-up of deflationary pressures and possibly result in stagflation becoming more entrenched in certain economies.
Such environment was created by the state, and exclusively so, and I am amazed to see that citizens and businessmen are still appealing to that very state expecting it to resolve their problems, and not only the general operating conditions, but to provide them with incentives, subsidies, price regressing, new loans, etc. as well.