The social, economic and political ramifications of the Corona crisis are immense. The European Union’s three largest business organisations therefore call for an EU response of unprecedented scale. In order to minimise the damage, a strong fiscal response with a high degree of solidarity for the most affected countries is needed.
Threats from London are harmful and will come back like a boomerang
Reacting to the decision of the British Conservative Party to appoint Boris Johnson as party leader, BDI Director General Joachim Lang says that the economy urgently needs a UK government that makes feasible decisions.
In an interview with the Passauer Neue Presse, the BDI President pleads for a strengthening and unification of Europe. Dieter Kempf expects more courage from politics in Germany. The task of the Grand Coalition is far from finished.
The Jefta free trade agreement between the EU and Japan, which will apply from February, is praised by Stefan Mair, member of the BDI executive board. Europe must stick to the course it has taken. Further trade and investment protection contracts should not fail.
The BDI again expects weak global economic growth of a mere three percent this year. Global trade remains weak, we anticipate an increase of only 1.5 percent. Foreign trade will not be contributing to German economic growth. The increase in GDP will again this year be curbed by foreign trade. Only domestic demand generated by construction activity and private consumption will keep growth above zero.