Dieter Kempf, the president of the BDI, told journalists in Berlin that the UK parliament’s rejection of the withdrawal agreement was “dramatic”. “We are moving dangerously close to a chaotic Brexit,” he said.
The alarmist message highlights growing concern among political and business leaders in Germany, which stands to suffer more than other EU economies from a chaotic UK departure. German companies have investments in the UK worth €120bn and the bilateral trade in goods and services is estimated to be worth €175bn a year. [...]
Mr Kempf insisted that it was up to London to prevent the worst-case scenario and find a way out of the impasse. “The agreement that is on the table cannot be renegotiated. It is the UK’s turn to move. It is high time for the British to tell us clearly what they want,” he said. “It is completely illusory to just say all the time what you don’t want, but without knowing what you do want.”
Mr Kempf said businesses on both sides of the channel had no choice other than to prepare for a hard Brexit. “Some companies have already announced they will let production rest from April onwards or to pull forward maintenance works. Others have moved personnel or closed business.”
He added: “It has to be clear to everyone that the UK could in a matter of weeks become a third country for the EU. That would mean that one of our closest trading partners would fall behind countries such as Turkey, South Korea and Ghana in terms of the rules that govern our economic relationship.” [...]
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