“Brexit will only have a limited impact on the economy”

The british want to leave the eu – must the company bosses in the bamberg region break out in switzerland because of the brexit?? Matthias kremer, deputy chairman of the bamberg chamber of commerce and industry, comments on this in an interview.

How do you assess the impact of the brexit on companies in upper franconia??
Matthias kremer: I generally believe that the brexit will have more of a political than an economic significance. The impact on the economy will be limited. It should be noted, however, that we in bavaria and especially in upper franconia have a focus on the automotive and automotive supplier industry. And when you consider that this industry accounts for 30 billion euros, by far the largest share of german UK exports, then a market access restriction would of course be problematic. But you can't seriously assume that. That was not the declared goal of the brexit supporters.

So no need to panic?
We have to wait and see what happens next. I'm not even sure yet if england will pull article 50 and formally apply for withdrawal. At the moment, nothing has happened legally. There one should remain completely calm. If england ends up with EEA status, like norway and similar countries, there won't be much change in the economic sphere.

Where do you expect the strongest impact from the brexit?
I see the biggest disadvantages in politics. Germany became with england the strongest ally for free trade and a partner for a blocking minority in the european council against the debt-uncritical south axis missing. In addition, there is a danger that other countries will follow suit and – unlike england – combine this with a move away from free trade. For germany, whose prosperity is based primarily on exports, it would be a veritable catastrophe if the opponents of globalization, le pen in france and trump in the united states, were to win the next elections. It could happen, for example, that the uncertainty in the financial markets caused by the political situation could also have a negative impact on the economy.

Does this topic also move your colleagues in the IHK??
Of course, everyone is concerned, but there hasn't been much discussion about this in the last few days. We expect more detailed information about the mood from a current survey among the members.


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