The European project in tatters?
 

In the space of a week, the European edifice appears to be crumbling.

The value of the Euro plummeted following the announcement that Angela Merkel will not seek re-election as leader of her party the CDU. She intends to continue as German chancellor, but this may not be possible without support of her party.

French president has come under fire from Nicholas Sarkozy over his hardline on Brexit.

Poland and Greece are demanding over €1.5trillion in reparations from Germany for WWII.

Hungary is refusing to cave in to sanctions imposed by the European Commission over refusing refugee quotas.

Italy, the third largest economy in the Eurozone, is sticking two fingers up to a threat of sanctions over its budget. A leading economist is saying they would be better off with their tax and dpending plans, and absorbing the cost of the sanctions, than agreeing to abide by EU spending rules.

On the back of all this comes a rumour over Brexit. France and Germany have been at the forefront of trying to shut British financial sector out of any trade agreement. Now it seems the EC, which is overseeing Brexit negotiations, may have reached a compromise with the UK that would mean financial services couldcontinue so long as each others regulations were respected.