Friday December 13, 2019

Europe 'walking naked' into Trump's trade war

New ECB chief Christine Lagarde’s real challenge will be to convince Germany that it is time to take off the spending caps. That alone will require a seismic shift

14th August, 2019
Work already piling up for Christine Lagarde. Picture: Getty

The euro zone is uniquely vulnerable to any blockages in international trade. In 2017, exports of goods and services amounted to 27.9 per cent of its gross domestic product compared with 12.1 per cent for the US, according to the ECB. The monetary union had a current account surplus of €323 billion, or 2.8 per cent of GDP, in the year to May.

While countries such as Germany and Italy might be very different in their commitment to fiscal...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

The threat of no-deal has led many businesses to identify and eliminate inefficiencies, allowing them to do more with less

Brian Cremin | 1 day ago

Real conversations about wealth transfer from parents to children are a must – and they should be had in plenty of time

Peter Kinsella | 5 days ago