BERLIN: Britain crashing out of the European Union without a divorce deal would have disastrous consequences for companies and workers in Britain and across Europe, the head of the BDI German Federation of Industry said on Saturday. Britain’s Prime Minister Theresa May is fighting to defend a draft deal agreed with the EU but opposition from both within and outside her party has raised the possibility of a no-deal hard Brexit or even another referendum. Dieter Kempf told Funke Mediengruppe newspaper chain that a no-deal Brexit would hit the automotive, aerospace, chemical, pharmaceutical, engineering and electrical industries particularly hard. But service industries including banking and tourism would also be affected. “A hard Brexit would be disastrous,” Kempf said, adding that German firms should prepare for a no-deal exit of Britain from the EU.
Published in The Express Tribune, November 18th, 2018.