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  HOME | Business & Economy (Click here for more)

Spanish Economy Minister Expresses Concern over Germany’s Political Situation

ALICANTE, Spain – Spain’s Minister for the Economy and Competitiveness, Luis de Guindos, expressed on Tuesday his concerns that the difficulties that German Chancellor Angela Merkel was facing in talks with other parties to form a coalition government could lead to repercussions throughout the eurozone.

De Guindos made his comments in the eastern coastal city of Alicante during a conference of business executives.

“The difficulties in forming a government in Germany in the past days could lead to difficulties from the point of view of advancing toward completing the economic and monetary integration of the eurozone,” said De Guindos.

The minister said that Germany’s economy was of particular importance and was the driving force of Europe.

Adding to the situation was the challenge presented by the United Kingdom’s withdrawal from the European Union, whose “true consequences” have not been seen yet and which could have a negative impact on British exports, according to De Guindos.

The Spanish politician said that the topic would be one of the most important ones for the EU in the coming months.

The UK is scheduled to leave the bloc in March 2019.

Germany’s government of Merkel has been thrown into question after talks with other parties aimed at reaching an agreement to form a coalition government collapsed over the weekend.

The situation could lead to new federal elections.

 

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