A month on from the UK’s referendum vote to leave the EU and the focus has quickly shifted onto how the relationship between the EU and the UK will be managed in the future, and indeed whether the UK may benefit or suffer from its decision to leave the EU.
One industry that has a particular interest in this changing landscape is the UK’s automotive industry. With around 80% of its output heading for international markets (more than 50% alone heads to other EU countries), and with the majority of components used by the industry imported, the UK’s automotive industry will be a keen observer of how the UK’s international trading relations develop over the coming years.
Continue reading What now for the UK automotive industry post-Brexit?
The phrase ‘sick man of Europe’ has been used time and again over the past century, and used against almost every individual European state at one point or another to describe a country afflicted by economic adversity or impoverishment.
During much of the 1970s the UK enjoyed the dubious honour, while in the 1990s it was Germany’s turn. With their inability to balance a government budget for more than 30 years, both France and Italy have regularly contended for the title.
Nowadays it is a hotly-disputed mantle and, depending upon which statistics are looked at, a case could be made for any number of countries. In the European steel industry, however, there is one market that stands out as suffering particular adversity. That market is Italy.
Continue reading Italy the sick man of Europe’s steel market