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What Brexit Means for Austria: Mitterlehner, Kurz, Fiat Steyr

Published: June 20, 2016; 17:30 · (FriedlNews)

Mitterlehner hopes that the referendum will end in Britain staying in the EU. Kurz says, that Brexit would be terrible. Fiat could relocate production of agriculture and construction machine maker CNH (Case New Holland) from UK to Steyr in case of Brexit.

What Brexit Means for Austria: Mitterlehner, Kurz, Fiat Steyr / Picture: © Wikipedia / Furfur

Vice-Chancellor Reinhold Mitterlehner (OVP) hopes that the Brexit referendum will end in Britain staying in the EU, because a Brexit would have serious consequences for the capital and financial market.

Austria’s Foreign Minister Sebastian Kurz (OVP) argues in a Facebook video entry that Great Britain leaving the EU would be terrible, especially since the UK is a country that the EU benefits from "in terms of ideology”. He thinks that Britain staying in the EU and using some of the proposals motioned by the Brits would do the EU much good.

In the case of a Brexit, production could be relocated from Britain to Austria, to Fiat’s plant in Steyr, Fiat Chrysler Automobiles (FCA) head Sergio Marchionne announced in Venice at the weekend, Standard daily reports. Controlled by the Fiat Agnelli family group, the agriculture and construction machine maker CNH (Case New Holland) produces 22,000 tractors in British Basidon, employing 1,000 people.