Home Brexit Germany urges EU for Brexit deal with UK as they face recession

Germany urges EU for Brexit deal with UK as they face recession

by LLB Politics Reporter
15th Aug 19 3:42 pm

The German chancellor Angela Merkel is urging EU negotiators to do a deal with the British prime minister as this will tie the UK more closely with Europe.

Merkel wants a future trading relationship with the UK, so it remains a “close partnership” after Brexit. Currently the UK is Germany’s largest exporter in Europe totalling £75bn in 2018.

On Wednesday Merkel said, “We have, of course, spoken about Britain’s exit from the European Union and this regard made clear that we want a withdrawal that will at the same time yield a close partnership between Britain and EU member states.”

Johnson’s threat of a no-deal Brexit on the 31 October “do or die” is hanging over Germany. Europe’s largest economy are fearing recession as the gross domestic product (GDP) has contracted to 0.1% in the second quarter.

Marc Tenbieg at the German Mittelstand Association said to the Telegraph, “It is a tragedy for both sides of the Channel that a functioning and well-established market and trade structures have been jeopardised by poor political decision-making.”

Marcel Fratzscher, president of the DIW Berlin research institute said, “Most likely we will see another quarter of negative growth, and that’s by definition a technical recession.

“It’s very mild, but also at the same time, not a very strong performance.”

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