EU's Schulz says Volkswagen scandal a heavy blow for German economy

VW has set aside 6.5 billion euros ($7.3 billion) to help cover the cost of the scandal, but some analysts think the final bill could be much higher.

BERLIN: The head of the European Parliament told a group of German regional newspapers that the emissions scandal at Volkswagen (VW) would hit the German economy hard but Europe's biggest carmaker was likely to survive the crisis.

Germany's finance and economy ministers have played down the risk of a broader economic danger for Germany from the scandal.