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Consequences of tight Brexit for Germany

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Consequences of tight Brexit for Germany
February 11
13:00 2019

According to the research, about 100 thousand people in Germany will lose their jobs if Britain leaves the European Union without completing the process of formalizing a trade agreement.

In this scenario, 15 thousand people working in auto industries will lose the source of income. It is mainly about the inhabitants of Wolfsburg and Dingolfing-Landau, where Volkswagen and BMW plants operate.

Tight Brexit will also affect those who work in large companies, such as IBM and Siemens.

Oliver Holtemeler, one of the economists who participated in the calculations, notes that the British withdrawal from the EU is likely to have the greatest impact on the Federal Republic of Germany.

France will also suffer great costs from the unorganized exit. About fifty thousand people can lose their jobs here. China, receiving a large number of orders from firms engaged in deliveries to Britain, will have problems too.

Brexit is scheduled for the end of March. At the moment, the British Parliament does not agree with the arrangements formed by Theresa May and the EU members.


The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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