Can corona virus or any other epidemic disease can collapse Banking?

[ScamViruS]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

The way the media spread the Corona virus news it doesn't seem that big to me. The Corona virus won't collapse the bank. However, the Corona virus is already affecting the global economy. Due to various product crises, the prices of the products are increasing. Which is making it very difficult for everyone.

[pixie85]

Coronavirus won't do it because of its low mortality rate. If it was something like ebola that is almost like a death sentence the banking would be paralyzed for sure. All sectors would!

Coronavirus will be contained because early spring in Europe and Asia is the time when people get all the throat and lung infections. It will be much easier to stop when temperatures rise.
There's no need to panic because if you're young and healthy you have less than 1% chance of dying from it. This is less than the probability of you getting cancer.

[415jeremy]

It is exactly what happens right now. Firstly, the outbreak has weakened Chinese economy. If every country's economy is connected, this accident is sufficient to the rest of the world. Corona spreading and mostly virus fear is disrupting travel activity, leading consumers and businesses to curtail demand and disrupting global and domestic supply chains. Summarize these facts and make a conclusion.

[Rajorrum1994]

Well, I guess just a little bit cause a lot of people don't go outside the house and they won't be able to go to the bank but luckily others have already adapted the online banking nowadays so I think it's just a little bit.

[ufaiz50]

But coronavirus?  I don't think so.

I was not only reffering to coronavirus, but all other epidemic disease which may be seen in the future. However, don't take this corona virus such easy. Countries dependent on China are suffering heavily. You can see some stats on such countries.

According to data compiled by Johns Hopkins CSSE. there are 95000+ cases of people infected with COVID-19, I also get information about what countries have a pretty high level of damage to this case due to its relationship with the corona-v prevention system. and therefore the economic downturn and high inflation rates could have happened if people were still panicking about this case.

I also have the same opinion about the current news which scares the reader to get a lot of views and controversy. news is more likely to highlight an infected person than a person who has recovered from corona-v. moreover, that there is a possibility of healing for everyone and it depends on the immunity in the body.

[Betwrong]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

The way the media spread the Corona virus news it doesn't seem that big to me. The Corona virus won't collapse the bank. However, the Corona virus is already affecting the global economy. Due to various product crises, the prices of the products are increasing. Which is making it very difficult for everyone.

Which products are you referring to? I can see no such impact of the coronavirus on food products prices neither where I live, nor in the world. Quite the contrary, prices have dropped on some Chinese products, despite the fact that there is no reason to suspect that packages from China harbor COVID-19. So now I can buy my fav Chinese food cheaper.

In cases like this it is very important to be aware of all possible dangers, but it is also important to not exaggerate things. Panic never helps.

I'm glad you don't think that coronavirus can collapse Banking though.

[asu]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

Corona Virus is real serious thing. In my personal opinion--based on what's our happening now in the Philippines. The number of confirmed cases of covid-19 are rapidly increasing x2 day by day. That said, the National Region Capital of Philippines have been affected so much such the all the important events that turning out to cancellation...

However, the only way to prevent of getting infected is staying at home and the way to use bank is by online banking which a good alternate use since then.

[Meowth05]

I think there is correlation with the possibility of collapse for banking when it comes to epidemic diseases, but that is a far fetch possibility from happening right now, given that the government are doing what they can to prevent the further spread of these diseases. Collapse can happen but humanity are fighting to prevent that.

[NavI_027]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance?

Of course, you can think of it by simple logic. If there is a pandemic (Corona virus in this case) happening what tend to happen is that most of countries will freeze. Different industries will be forced to stop and will later result to economic crisis.

In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

Expect the worse dude . Inflation is just the beginning, what I'm scared of is if we reach the point where each and everyone become insane because of scarcity. The moment when people have no choice but to rob, deceived others and even kill just to acquire their necessities. Eeehh I don't know how severe the situation in China is, but I hope it will calm down ASAP.

[conected]

I think there is correlation with the possibility of collapse for banking when it comes to epidemic diseases, but that is a far fetch possibility from happening right now, given that the government are doing what they can to prevent the further spread of these diseases. Collapse can happen but humanity are fighting to prevent that.

- Pandemics have always had a negative effect on most fields, so more or less, the current corona virus will have a big impact on the services that banks provide but about the collapse, I agree with you that it will be a vision in the distant future because this epidemic is only temporary, it will delay banking services for several months or maybe longer but never forever. Governments of nations cannot let epidemics ruin their economies, we can see that the measures and research on medicines are in a hurry, banking activities will recover soon and no collapse is expected here

[arrmia11]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

I think it's a yes it will affect the banking system because eventhe cryptocurrencies are affected globally but not just the corona virus or other epidemic disease will affect the banking system or the cryoptocurrensy even the other Holly days will affect the banking system

[mu_enrico]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

Economic slowdown: yes;
Recession: high probability;
Depression: if recession is not managed properly.

C'mon man, if banks collapse, crypto would be collapse (in term of dollar price) as well. You should buy canned foods or toilet paper instead.

[charlesmichel1]

The Corona impacts the market negatively, we see it right now. Banks leveraged exposure may be the reason for 2020 turning to be new 2008.

[Wintersoldier]

Corona virus or any epidemic diseases could not only collapse banking but every productivity that is happening in this world that it could stop due to community quarantine and lock downs in other countries because exporting and delivering goods will closed.. Diseases may really cause economic losses in feedlots through mortality, productivity of basic needs.

[johnyj]

Banks won't have problem, the central bank is sure to print helicopter money to bail out any of them. But the problem is with all the other people: If you can not go to work, you have no income, unless the government bail out you, you will not be able to pay back the house loan and deal with the living cost. And many people are living from pay check to pay check.

[wozzek23]

I don’t think that any epidemic or even Coronavirus can stop banking.
Even right now that there is an outbreak of Covid-19 a lot of companies have asked their employees to start working from their homes, and banks are not an exclusion, in fact JP Morgan has asked thousands of their employees to be working from home.

In every company it’s not really everyone that are asked to work from home, there are still some of the employees that their jobs requires them to be coming to the office, but they would not be spending as much time as they used to do before now.

[Betwrong]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

Economic slowdown: yes;
Recession: high probability;
Depression: if recession is not managed properly.

C'mon man, if banks collapse, crypto would be collapse (in term of dollar price) as well. ~

I agree, there will be no winners in the case of a global depression. People should understand that this is no post apocalyptic computer quest game, it's real life and it's serious. If banking system collapses, what awaits all of us very soon is chaos. And if someone now is saying that he is not afraid of chaos, that is because he has been living all his life under protection of government, having no idea what is it to live by the law of the jungle.

[Sanugarid]

The global pandemic will definitely give a negative outcome to the economy as it leads to lockdown and shutting down of different companies for the safety of everyone. As production in different terms ends up stopping, the value of a certain currency would go down for sure as the resources, imports and exports would decrease also. Any global phenomena can collapse banking and the economy. The system of the world needs to keep on working everyday so things wouldn't go out of hand. We need to set ourselves ready for the possible depression the world may experience for the next few months as the effects of the outbreak shows up.

[bitcoinst]

I doubt it very much.
The fact is that if it were a banking system exclusively in the physical world, then perhaps a reduced number of contacts from the system could somehow affect its operation.

However, now we can see that almost the entire banking system goes digital.

From this we can conclude that an epidemic of this kind will only accelerate the transition of financial systems to the digital environment.

[senin]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

The onset of the global economic crisis after the coronavirus spreads all over the planet is entirely possible. Now many enterprises are stopping, the economy of almost all countries continues to fall, and this could lead to a crisis. However, no matter how the crisis occurs, it cannot completely destroy the entire banking system. Of course, many banks will go bankrupt, but the banking system will continue to exist, since it will be supported by the states themselves. In fact, the banking system is part of the state; the state cannot fully exist without the banking system. Therefore, banks existed and will exist for now.