The Minister of National Economy Predicted the Disappearance of Major European Car Brands

"Once upon a time, there were big brands like Ericsson, Nokia and Grundig. They are nowhere to be found. I don't want to be a doomsday prophet, but in the next five years, big European car brands could easily disappear," stressed Minister of National Economy Márton Nagy on Friday at CPAC, in connection with the European Union's declining competitiveness.