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

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. What is now needed are decisions: "The preparations have generated significant costs in the economy. The new government inLondonshould swiftly say what future relationship it is seeking with the...

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."

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The Federation of German Industries
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