The debt crisis in Europe continues to ferment, and debt holes such as Greece's “Euro-Pig Five” fill the gaps, which has brought great difficulties to the fastener industry in Europe and brought the European fastener industry to the bottom of the industry.
The European debt black hole has hit the manufacturing industry in Europe. The current demand for fasteners is incapable of expanding the demand for fasteners. Most of the downstream fastener companies are on the verge of bankruptcy. Therefore, the short-term fastener market in the European market will not be able to reverse the trend of weakening fasteners, losing the domestic demand market, the European fastener industry can only "go home," take the road to export to other continents, but the long-distance trafficking to the European fastening The cost of the parts has increased dramatically, and the competitive advantage in the world market has dropped dramatically.
In addition, the European debt black hole also poses a huge challenge to the investment promotion of the fastener industry and the development of high-end manufacturing industries. The capital chain of the fastener industry is frequently broken, and investors are reluctant to invest in the fastener industry. Many factories are lacking. The bankruptcy of funds, part of the high-end fastener production technology in the R & D stage has also been aborted due to funding problems. Therefore, the European debt black hole has brought the European fastener industry to a low point.