German companies are already noticing a decline in sales to Britain. They’re pinning their hopes on a soft Brexit that takes the needs of business into account.
UK Brexit Minister David Davis' speech in Vienna sought to reassure EU leaders. Brexit would not lead to an Anglo-Saxon race to the bottom and Britain would not be plunged into a Mad Max-style world, he said.
Martin Selmayr has been the shadowy figure beside EU Commission President Jean-Claude Juncker since 2014. His promotion to Commission secretary-general could cement his power in EU politics for years to come.
The clocking is ticking on Brexit and all signs point to an ill-prepared strategy. Angela Merkel and Theresa May, however, have struck a positive tone on the matter despite the challenges that lie ahead.
German business confidence has dropped off a little above expectations. But Europe's biggest economy was still set for solid growth in the first quarter of the year, analysts from the ifo research institute insisted.
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