The euro is down against the pound as the dispute between Germany’s courts and the European Commission over the legality of the latter’s asset-purchase programme continues. EU officials said last week that they may resort to legal action against the German state if it does not comply with the Union’s rules.
As the coronavirus pandemic raises fears of a deep recession in Europe, however, it seems that there is a shift in thinking among some member states. The Netherlands, which has typically been strongly pro-free trade, is said to have joined with Macron’s France to push for greater protection of standards in EU trade deals. A move could have implications for the on-going Brexit talks.
