Connect with us

Brexit

German industry needs #Brexit clarity 'next week' - BDI

SHARE:

Published

8 years ago

on

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. You can unsubscribe at any time.


German companies on Tuesday (13 March) demanded that Britain agree by next week to an interim phase based on the status quo for its transition from the European Union and said that otherwise they would implement‘worst case’ contingency plans, write Michael Nienaber and Madeline Chambers.

“We demand a basic decision on this from the EU and British government at the European Council meeting. Otherwise, some companies will be forced to implement emergency plans for a worst case scenario which noone wants and which will hurt everyone,” said Joachim Lang, managing director of the BDI industry association.

 

German firms would prefer a deep form of integration between Britain and the EU after Brexit, it said. Ideally, Britain would stay in the customs union and single market, said the BDI, options the British government has rejected.

German companies are still preparing for a range of outcomes to the negotiations between Britain and the EU, including the scenario of a hard Brexit in which no agreement was reached, Lang said, adding that next week’s EU summit would be crucial.

“Our companies need predictability. Now there is the chance to reduce uncertainty for companies on both sides of the channel,” Lang said.

“If the EU summit does not provide clarity, then some companies will be forced to trigger their contingency plans,” Lang said.

Advertisement

He did not say what measures these contingency plans would include. But Lang said that foreign direct investment flows to Britain had already slowed last year and that German exports to Britain had fallen in 2017.

Share this article:

Share this:
Related Topics:
Guest Contributor - Opinion

Opinions expressed are purely those of the author and not endorsed by EU Reporter. The article was unsolicited by EU Reporter, and the author guarantees the truthfulness of the contents of the article. No payment was made by EU Reporter to the author

EU Reporter publishes articles from a variety of outside sources which express a wide range of viewpoints. The positions taken in these articles are not necessarily those of EU Reporter. Please see EU Reporter’s full Terms and Conditions of publication for more information EU Reporter embraces artificial intelligence as a tool to enhance journalistic quality, efficiency, and accessibility, while maintaining strict human editorial oversight, ethical standards, and transparency in all AI-assisted content. Please see EU Reporter’s full A.I. Policy for more information.
Advertisement

Trending