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The directors-general of the business federations of Germany, France, Spain, the Netherlands, and BusinessEurope — representing organisations in 34 European countries — will join the UK’s CBI to argue that EU membership is an important factor in maintaining and attracting investment into the UK.
The meeting will also be attended by the heads of companies including Siemens, L’Oréal, Banco Sabadell and Scottish Power, which is owned by Spain’s Iberdrola.
“Europe is not perfect and all the issues our British friends raise are relevant,” said Michel Guilbaud, director-general of France’s business lobby group, Medef. “But no single country is able to cope with all the dramatic events we have to face, and we need the UK to build a better Europe with us, for our companies and for our citizens.”
Markus Kerber, director-general of Germany’s BDI, said a British exit from the EU would make German investors more cautious.
“Almost 9 per cent of total foreign direct investment in the UK comes from German business. Companies react to uncertainty by delaying or reducing their investment. This would also be true for German investors,” he said. [...]
Full article on Financial Times (subcription required)