ADVERTISEMENT

Study Concludes 100,000 German Jobs at Risk From Hard Brexit

“The employment effect of a hard Brexit would be felt above all in the automotive”

Study Concludes 100,000 German Jobs at Risk From Hard Brexit
An anti-Brexit demonstrator holds a Union flag with a European Union (EU) flag outside. (Photographer: Luke MacGregor/Bloomberg)

(Bloomberg) -- The U.K. leaving the European Union without an exit deal would jeopardize 100,000 jobs in Germany, according to a study by Halle IWH, one of the country’s leading economic institutes.

The most affected areas would be Volkswagen AG’s hometown of Wolfsburg, and Dingolfing-Landau, the site of BMW AG’s largest German factory, according to Welt am Sonntag, which published the study.

“The employment effect of a hard Brexit would be felt above all in the automotive” industry, Oliver Holtemoeller, one of the study’s authors, told the newspaper. Because of Germany’s reliance on exports, no other country in the EU would be more affected, according to Holtemoeller.

To contact the reporter on this story: Chris Reiter in Berlin at creiter2@bloomberg.net

To contact the editors responsible for this story: Chad Thomas at cthomas16@bloomberg.net, Nikos Chrysoloras

©2019 Bloomberg L.P.