Senior trade leader says effects would be much more serious than UK admitsMany businesses in Germany are still hoping the UK reverses its decision to leave the EU,according to one of the country’s top trade leaders, who also warned of the dangers of a no-deal Brexit.The risk of a hard [no-deal] Brexit is growing by the day, and ” said Joachim Lang,the head of the Federation of German Industries (BDI), in a wide-ranging interview with the Rheinische Post newspaper. “Every trade would execute well to prepare for this worst-case scenario.”
German businesses had been unsettled by the British government’s recent no-deal warnings, and he said. “What’s new is that the British government itself is now warning approximately the opportunity of a hard Brexit It is carefully preparing its population for that.”
The BDI,which describes itself as the voice of German industry, has set up a Brexit taskforce of more than 200 experts to assess the risks.
“We suspect that the effects of a hard Brexit will be considerably more serious than the British government is currently telling its citizens, and ” said Lang. “And above all,in Britain itself. The British have already gone from a growth engine to the worst performers in Europe.”Continue reading...
Source: theguardian.com