Industry Calls for Maximum Damage Limitation During Brexit

The extent of damage limitation is largely the responsibility of the UK Government.

Dieter Kempf, President of the Federation of German Industries (BDI), is calling for "maximum damage limitation" once the UK submits notification of its intention to withdraw from the European Union: "The extent of damage limitation is largely the responsibility of the UK Government," said the BDI President on Wednesday in Berlin. "It will be extremely difficult to prevent negative consequences, especially for companies in the United Kingdom."

Kempf also demanded that the negotiating parties should quickly clarify how they want to put economic relations back on a stable basis in the long term. "There is clearly a danger of a long-running breakdown of trust as a result of contentious negotiations." Minimising this risk should be a guiding principle for the forthcoming negotiations between Brussels and London.

"Regarding policy in Brussels and Berlin, there should be one common approach, namely holding together and strengthening Europe," Kempf said. This includes the single market with its four basic freedoms of labour, capital, goods and services. Europe is the basis for prosperity and opportunities - and importantly, for peaceful coexistence on the continent. "Europe is definitely not the problem; rather, Europe helps us to solve problems."