EU on alert as report warns of bankruptcies across bloc

The end of the EU transition period at the end of the year is set to have detrimental consequences for EU member states, according to a report by insurance company Atradius – which is based in Amsterdam. The company warned that EU economies will suffer because of Brexit and highlights those most at risk were export-orientated countries, such as Ireland, Belgium and the Netherlands. The spokesman said Brexit is expected to cause most bankruptcies in the manufacturing and automotive industries, as these industries are the engines of exports.