Hammond Said to Ditch EU Single-Market

The video discusses Phillip Hammond's potential willingness to give up single market membership while maintaining access, reflecting the UK's political reality post-Brexit. The EU's firm stance on free movement as a condition for market access is highlighted, with Angela Merkel's position on maintaining EU unity. The shift from austerity to fiscal stimulus in Germany, led by Wolfgang Schauble, is explored, noting its political implications amid upcoming European elections and the Italian referendum.

What is the main reason Phillip Hammond is considering giving up membership to the single market?

• To reduce immigration from the EU

• To maintain access similar to Norway

• To increase trade with non-EU countries

• To align with US trade policies

What is the EU's stance on the UK's access to the single market if it restricts free movement?

• The UK can have access if it pays a fee

• The UK will have no access if it restricts movement

• The UK can negotiate terms for limited access

• The UK will automatically retain access

What recent change has Germany made in its fiscal policy?

• Increased austerity measures

• Proposed tax cuts and increased child benefits

• Introduced new trade tariffs

• Reduced government spending

Why is there a shift towards more fiscal spending in the euro area?

• To reduce the national debt

• To counteract high inflation rates

• Due to the recognition that monetary policy is at its limit

• To increase exports to non-EU countries

What is one potential political outcome of increased fiscal spending in Italy?

• Strengthening of populist parties

• Increased support for Prime Minister Renzi's reforms

• Decreased EU influence in Italy

• Higher taxes for citizens