Brexit is threatening 100,000 jobs in Germany

Brexit is threatening 100,000 jobs in Germany

February 10, 2019 0 By autotimesnews

The exit of the UK with the EU without an agreement will cause enormous damage to the German economy and put at risk up to 100 thousand workers in the country.

This is written by the German edition of Welt.

The publication cites the results of a study conducted by economists from the Institute for Economic Research in Halle and the Martin Luther University in Halle-Wittenberg.

The German automotive workers in the regions of Wolfsburg and Lower Bavaria, where the plants of BMW and Volkswagen are located, will be particularly exposed to the “hard” Brexit risk.

Economists note that more than 100,000 employees will directly or indirectly experience a decline in trade through the “hard” Brexit. They assume that British imports from the EU will fall by 25% after the exit without an agreement.

“In no other state, the impact on general employment will be as great as in Germany, it will affect about 100,000 people,” – said Oliver Holtemeller, co-author of the study.

According to a study, France is the next country that feels the worst consequences of the “hard” Brexit, which will put at risk 50,000 jobs.

According to a study, more than 600,000 people around the world can feel the consequences of a British withdrawal without a deal. Of these, 179,000 jobs are in the EU, and 433,000 are outside the bloc.