Le Lézard
Classified in: Business
Subjects: ECO, TRD, AVO

BDI on the Anniversary of the Brexit Referendum: "A Hard Brexit is More Likely Than Ever Before"

BERLIN, June 22, 2019 /PRNewswire/ -- "Three years after the referendum, no one talks about the opportunities associated with Brexit anymore. Only damage control is at stake now, unfortunately. A hard Brexit is more likely than ever before," Joachim Lang, Director General of the Federation of German Industries (BDI), said Saturday in Berlin ahead of the third anniversary of the Brexit referendum.

A tenacious uncertainty continues to plague the economy. Companies and administrations have already incurred many costs for Brexit preparations. And it still remains unclear what path the United Kingdom will take, Lang stressed. Everything is lacking: "There is no British government, no economic policy plan, and the British contingency measures also leave a lot to be desired."

What is now needed are decisions: "The preparations have generated significant costs in the economy. The new government in London should swiftly say what future relationship it is seeking with the EU. Otherwise, the situation will become very difficult for our companies in the country," Lang added.

Lang warned against underestimating the problems: "For the first time in EU history, trade barriers are being raised and not dismantled. This is hitting value chains hard. These effects cannot even be analysed yet. Things could get much worse than expected." This is why it is crucial for London to accept the negotiated withdrawal and transition agreement. "The German government and the European Commission are right to stick with the negotiated deal. There should not be any renegotiation. It is also in the German economy's interest that internal market rules are respected at the Irish border over the long term. This will only succeed with the backstop."

The Federation of German Industries
Member association of BUSINESSEUROPE

Contact numbers
T: +49 (0)30-2028-1479
F: +49 (0)30-2028-2479

Website: www.bdi.eu 

Email: [email protected]


These press releases may also interest you

at 15:13
Jordon Perlmutter & Co. and Rockefeller Group recently celebrated  the grand opening of Paradigm River North, a Class AA office building located at 3400 Walnut St. in Denver's River North Art District (RiNo). Paradigm River North is the first joint...

at 15:13
Tweed, a web3 digital payments startup, is powering a new event registration platform for Intel Ignite, Intel Corporation's global startup accelerator program for early-stage deep tech startups. The integration, built on the Solana network, is...

at 15:10
The Red River Athletic Conference and Last Shot, the premium hydration drink designed to fuel athletes and active individuals, are proud to announce their partnership, which makes Last Shot the official sponsor of the RRAC. As part of this...

at 15:10
SCOA Real Estate Partners (SREP), a wholly-owned subsidiary of Sumitomo Corporation of Americas (SCOA), is pleased to announce the appointment of Tyler Darden as the new Senior Vice President and Head of the Industrial Team. This marks another...

at 15:00
Nations Royalty Corp. ("Nations Royalty" or the "Company") is proud to announce the approval for listing on Tier 2 of the TSX Venture Exchange ("TSXV") as an investment company, under the symbol "NRC", effective at the open of market on June 21,...

at 15:00
Amerisure Insurance is proud to announce its Metro Detroit and Atlanta offices have been honored among the country's Best and Brightest Companies to Work For®. This elite recognition is awarded to organizations that demonstrate a commitment to...

News published on and distributed by: