Breakup Of The European Union Could Cripple German Automakers

The Volkswagen Golf and Fiat Panda are, together, older than the European Union, but the euro's unravelling could mean serious headaches for one and potential blessings for the other.

A north-south break-up of the EU in which Italy, Spain and Greece abandoned the euro would transform the industrial map, upending a decade of investment decisions and supply relationships based on monetary union.

A break-up would likely see the emergence of a stronger German currency - whether a restored deutschmark or more select euro - raising domestic production costs and eroding the competitiveness of exports like the Golf, first sold in 1974.

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Source: http://www.autospies.com/news/Breakup-Of-The-European-Union-Could-Cripple-German-Automakers-68330/

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