"Businesses must prepare for chaotic Brexit"
The European Commission has presented concrete plans for the case of a hard breach in which the United Kingdom leaves the European Union in March 2019 without a follow-up agreement. VDMA Managing Director Thilo Brodtmann considers it negligent not to prepare for this.
"In view of the unpredictable situation in Great Britain, it would be negligent not to prepare for a hard Brexit. Companies should urgently review their supply chains for possible dependence on UK suppliers and plan for significant delays and bottlenecks in both exports and imports. The EU now has a responsibility to take all possible unilateral precautions to limit the damage of a chaotic brexit to the European economy.
"The EU now has a responsibility to take all unilateral precautions possible to limit the damage of a chaotic brexit to the European economy."
Industry is still hoping that the British Parliament will get its act together and adopt the final exit agreement. The only possible plan B would be for Great Britain to distance itself from leaving the EU. Of the current options, a hard Brexit would clearly be the worst, not only from an economic point of view."