"It's a catastrophe for the German economy"! Companies fear massive damage - most especially, the nearly 2500 German firms that manufacture in Britain. German exporters have to brace for major losses in revenues.
A study has shown that Germany stands to lose the greatest number of jobs if Britain exits the EU without a deal. Some of the country's well-known auto and tech hubs are likely to be the worst hit.
The British Prime Minister is still in office after surviving a no-confidence vote in her government. But Germany and the rest of Europe are deeply worried about the increased likelihood of a no-deal Brexit.
German companies are closely following all developments that might give them an idea of exactly how the United Kingdom will leave the European Union. Soft or hard Brexit — that's the question yet to be answered.
German exports have bounced back in October, while a strong import rise suggests robust domestic demand. Cause for cheer? Not quite, according to most observers of Europe's powerhouse.
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