Deutsche Bank and the Siemens group, who both operate a finance business in the UK, are part of a task force set up last June by Germany’s Federation of German Industries (BDI) to prepare for a “hard Brexit” scenario, Reuters has reported.
BDI head Joachim Lang warned German businesses yesterday to plan for the eventuality that Britain will walk away from Brexit negotiations without a trade deal, saying that not having a contingency plan in place would be “naive”.
He accused Theresa May’s government of “lacking a clear concept despite talking a lot.”
“Many people in Britain have hoped that they would get a special deal from Germany. We’ve been saying for a year that this is not going to happen,” Markus Becker-Melching of the Association of German Banks said.
“We are working on the basis that there will be a hard Brexit,” he added. “The wheels are now set in motion to prepare for this.”
The task force’s existence will be officially acknowledged this month, and will provide its results and recommendations in December.