Brexit bombshell: Fears Germany ‘will lose economic power’ as expert predicts ‘losses’

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The city houses up to 400 companies which have contracts with Britain and almost 120 even have subsidiaries on the island. The companies see a hard Brexit as bureaucratic hassle, many have already begun preparing for the UK leaving the EU. A decrease of imports from Berlin prove the capital is readying itself, according to foreign economic expert of the Berlin Chamber of Industry and Commerce, Jochen Brückmann.

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Mr Brückmann told Inforadio: “I’ll give you an example, say you were a Berlin company and you were producing here, for example and you need certain parts from Great Britain for this.

“Highly specialised, right? Then I will have to figure out where I could get the parts from instead. Which is what they have done.

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“And this can be seen in the numbers. The imports from GB have significantly decreased, especially when comparing this year to the last.

“The first five months show this very clearly, it has decreased by more than 15 percent, simply because the companies have said ‘well then I will get the parts I need somewhere else’.”

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Brexit bombshell: Fears Germany ‘will lose economic power’ as expert predicts ‘losses’

The city houses up to 400 companies which have contracts with Britain and almost 120 even have subsidiaries on the island. The companies see a hard Brexit as bureaucratic hassle, many have already begun preparing for the UK leaving the EU.

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