END OF EU? Brexit is ticking TIME BOMB for eurozone, says Merkel’s finance chief

Friday, January 20, 2017
By Paul Martin

BRITAIN’S exit from the European Union (EU) WILL knock the eurozone economy, Germany’s finance minister Wolfgang Schaeuble has admitted.

Fri, Jan 20, 2017

At the same time political risks to bloc have increased, the minister told an audience at the World Economic Forum in Davos.

Europe will manage to avoid any damage this year from the UK’s withdrawal, but in the future is likely to feel a negative impact, said Mr Schaeuble

The German finance minister also expressed concern over the looming French, German and Dutch elections.

It comes as the popularity of anti-euro parties in the countries increases.

Mr Schaeuble said: “Brexit will not have [an impact] this year – in the future, of course.”

He added: “We have elections in some important European member states. Therefore, there is a lot of uncertainty, we don’t really know what will be the geopolitical risk, if we will have problems in free trade.

“We will see what happens. I’m not quite sure because geopolictial risks have increased – they have not been reduced.”

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