Shabes & Hammond in Davos: Brexit won't have a short-term negative impact

It's a 2-4-1 finance minister post from Davos

Schaeuble

  • Brexit won't have a short-term negative impact on the EZ this year

  • There's a lot of political uncertainty right now

  • The German economy has some resilience

  • If there is a back lash to free trade the German economy will fee this

Hammond

  • Sterling depreciation is feeding through into inflation and will affect consumers behaviour

  • It's not correct that all the same factors drove the Brexit vote and Trump win

  • UK economy has been resilient since the vote

  • Has a strong interest in a stable and successful Euro currency

  • If we are denied access to the EU market we will reinvent ourselves (as Germany?)

I'm not sure if they on the same panel together.

Best in 2026

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