- Title: Hard Brexit could wipe at least 0.5 pct off German GDP - BDI
- Date: 26th February 2019
- Summary: ISLAMABAD, PAKISTAN (FEBRUARY 26, 2019) (REUTERS) ***WARNING CONTAINS FLASH PHOTOGRAPHY*** PAKISTAN'S FOREIGN MINISTER, SHAH MEHMOOD QURESHI, ARRIVING FOR NEWS CONFERENCE NEWS CONFERENCE IN PROGRESS (SOUNDBITE) (English) PAKISTAN'S FOREIGN MINISTER, SHAH MEHMOOD QURESHI, SAYING: "The forum strongly rejected Indian claims of targeting an alleged terrorist camp near Balakot,
- Embargoed: 12th March 2019 12:26
- Keywords: hard Brexit German industry association BDI damage GDP
- Location: BERLIN & STUTTGART & HAMBURG, GERMANY
- City: BERLIN & STUTTGART & HAMBURG, GERMANY
- Country: Germany
- Topics: Economic Events
- Reuters ID: LVA004A37VQ19
- Aspect Ratio: 16:9
- Story Text: If Britain quits the European Union without a deal, that could shave at least 0.5 percent off Germany's gross domestic product (GDP), the head of Germany's BDI industry association said on Tuesday.
BDI Managing Director Joachim Lang said that would equate to around 17 billion euros ($19.30 billion) being slashed off GDP this year alone.
He said Britain would probably fall into recession if there were a hard Brexit.
Lang added that there was a lot of "discontent" among his members such as chemical and pharmaceutical companies whose products only have a British licence.
"They have been left in the dark for so long over which laws will apply after March 29," said Lang who appealed to British lawmakers to put national interest above party interest.
(Production Oliver Ellrodt, Michele Sani) - Copyright Holder: REUTERS
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