Angela Merkel misery: Germany ‘taken huge beating as £30billion Brexit damage predicted Ciaran McGrath
Replay Video UP NEXT
The research, published this week, considers the impact Brexit will have on the European economy as a whole, with estimates suggesting it will amount to 0.5 percent of GDP - amounting to £121billion (€140billion) between now and 2022. Brexit will cost Germany - led by Angela Merkel - £30billion (€35billion) during this period, the Commission s report warned.
Mr Henkel, who stood down from the assembly in 2019, is also the former president of the Federation of German Industries (BDI).
He told Express.co.uk: Germany is particularly impacted. Not only was Britain the second largest net contributor to the EU s Budget and, it is now for Germany to pick up the largest portion of the missing funds.
Aiming to cash in on data, European firms grapple with privacy laws
Premium
Catherine Stupp
Share Via
Read Full Story
Companies in Europe want to share the personal data of consumers with other firms or turn it into business applications without violating privacy rules, but there is no consensus on how to avoid revealing such potentially sensitive information.
Privacy restrictions in the European Union’s 2018 General Data Protection Regulation initially caused companies to reconsider whether they could cash in on personal data collected on consumers. Now, some companies are finding ways to avoid revealing that data, including consumers’ identities.
TRENDING STORIESSee All
EABC holds talks for policy agenda to increase intra-EAC trade by 30%
Shares
The East African Business Council (EABC) has convened trade and policy experts from the EAC Partner States virtually, to map out a joint regional policy advocacy agenda geared to increase intra-EAC trade by 30%. The meeting was done in partnership with the Federation of German Industries (BDI).
“The COVID-19 pandemic has compelled EABC to refocus and repurpose policy advocacy initiatives towards economic resilience and rebound including stimulus packages to support business continuity,” said Dr. Peter Mutuku Mathuki, EABC CEO in his opening remarks.
Total EAC exports decreased by 4.7% percent to Ksh. 1.53 trillion ($14.0 billion) in 2018 from Ksh. 1.61 trillion($14.7 billion) in 2017 of which, intra-EAC exports accounted for 22.4%.
Portugal vs Germany clash on EU corporate tax avoidance
The Google group alone recently avoided taxation of profits in the EU to the tune of almost €20bn a year in this way (Photo: Carlos Luna)
Brussels, Lisbon, Berlin, 8. Feb, 07:04
Portugal s taking over the EU presidency puts the tax transparency law for corporations - which has been fought over for years - to a vote in the Council of Ministers. The resistance of the German government has failed.
When the German economics minister Peter Altmaier next meets with his colleagues from the other 26 EU states, it will be in the face of an embarrassing defeat.