One in ten German firms present in Britain plans to stop investing in the island nation even before it definitively leaves the European Union, an industry group survey published on Tuesday found. German firms believe Brexit "will seriously damage business with the United Kingdom," said Eric Schweitzer, president of the Association of German Chambers of Commerce and Industry (DIHK), which surveyed 2,200 internationally active companies. Meanwhile, 2,500 German firms active in the UK have created some 400,000 jobs, compared with around 220,000 people in Germany employed by 1,200 British firms. The next fondest hope of German firms was for no increase in bureaucracy, at 83 percent, while 67 percent will look for free movement of capital to be maintained. Around half of firms would prefer free movement of people between the EU and UK to continue after Brexit.

Source: The Local March 28, 2017 12:22 UTC