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END OF EU: Fears in Germany that Brexit Could Lead to Break Up of European Union


  • END OF EU: Fears in Germany that Brexit Could Lead to Break Up of European Union
    by TOM PARFITT,  
    NINE out of 10 German business leaders believe the EU is in a “critical” situation after Britain’s vote to leave, a new survey has revealed.

    The poll of 506 company executives laid bare the widespread concern in Germany that Brexitcould spark the break-up of the crumbling union. Two-third expect the EU’s global political power to decline while 40 per cent believe other countries will follow Britain out of the exit door. Renate Kocher, the head of the Allensbach Institute, which conducted the research, said: “The EU needs extensive reform to prevent further exits.”

    More than half of those polled believed the British economy will suffer “considerable damage” as a result of last month’s historic Brexit vote. But just 15 per cent anticipate heavy losses for Germany’s economy, despite the fact Germany is the UK’s largest export market in Europe. And nearly three-quarters believe major decisions should be made by the country’s parliament rather than put to the public in the form of referendums. 

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July 21, 2016 - Posted by | Economics, GeoPolitics | , , , , , , , ,

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