Friday

29th Mar 2024

Ticker

Hard Brexit would cost German car industry €3.8bn

The German car industry could stand to lose €3.8 billion in sales and up to 14,000 jobs in the case of a hard Brexit, according to a Deloitte report, seen by Spiegel. WTO tariffs of around 10 percent for cars and about 4.5 percent for vehicle parts would apply, making European cars 21 percent more expensive in the UK. In total German exports to the UK would drop 23 percent.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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