EU woes could still wash up on our shores
Vast differences in the abilities of eurozone members to cope with government debts will cause huge economic rifts
24 April 2021 • 7:00pm
The European Union is starting to recover – and that matters. The 27 EU members boast a combined annual GDP of $18.2bn (£13.1bn), equivalent to the second-biggest economy on earth.
Two fifths of the UK’s exports go to the EU – down from three-fifths 20 years ago, but still hugely significant. In January, as the Brexit transition ended, our EU exports plunged 42pc – widely reported as “proof” Britain was wrong to leave.
The 46pc February bounce back showed that, after heavy pre-Brexit stockpiling in November in December, January’s fall in exports was actually inventory unwind. The EU’s “Kent variant” ban on UK lorry traffic and petty post-Brexit bureaucracy, not least at French ports, also didn’t help.
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After two days of declines, US markets turned around yesterday, reversing most of their Tuesday losses, with the likes of the Russell 2000 and the Nasdaq leading the way.
While the about turn is a welcome respite from the start of the week, the rebound can’t disguise the divergence taking place in various countries when it comes to vaccination levels and infection rates. Despite these concerns travel stocks enjoyed a decent rebound led by cruise lines and airlines.
While the US and UK appear for now to be on top of the virus, it is still running riot in Asia, with India and Japan suffering acutely, while the situation in Europe appears to have steadied for the time being.
Europe set for a positive open ahead of the ECB cmcmarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cmcmarkets.com Daily Mail and Mail on Sunday newspapers.
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The 2021 Bulgarian election produced a fragmented result, with six different parties entering parliament. The country’s incumbent Prime Minister, Boyko Borisov, has already indicated that he will not put himself forward as a candidate to lead the next government.
Ivaylo Dinev
Petar Bankov
assess the options for a new coalition and what failure to reach an agreement would mean for the country’s future.
The election held in Bulgaria on 4 April produced a fragmented parliament with no clear winners, making government formation a challenging task. The centre-right Citizens for European Development of Bulgaria (GERB) and its leader, Boyko Borisov, have seen their grip on power weakened as a result of their handling of the pandemic and major anti-government protests that took place last year.
The first edition will feature a rich programme with international speakers on digital issues in this era of uncertainty and global reset. Goal: becoming an annual flagship event in Europe.
On April 22nd and 23rd the fashionable winter resort of Cortina d’Ampezzo (Italy) will host the first edition, (for 2021 entirely virtual), of the Cortina Digital Forum (CDF), an event that aspires to become the annual winter go-to gathering on digital excellence.
The Forum aims at providing thought-leadership on how to tap the potential that the digital revolution offers to both industry and consumers. The event is free and open to the public trying to bridge the gap between experts from the public and private sector and the general public on the impact that digital has on every day’s life.