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Merkel: I see no damages by Brexit for German economy

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Staff Writer | July 7, 2016
German Chancellor Angela Merkel said that she does not see any serious consequences for the German economy by the impending exit of Britain from the European Union.
Angela Merkel
Britain   Germany and the UK have very close trade relations
"Germany and the UK have very close trade relations," said Merkel after her visit at a bureau meeting of German Employers' Associations (BDA) in Berlin.

"I also believe that the uncertainties are limited," she noted with respect to the consequences of Brexit for the German economy, adding that the impairments caused by the Exit-Referendum were for Germany and Europe significantly less than that for the UK.

For the Britons, it now depends a lot on what relations the country wants to develop in the future with the European Union, Merkel said.

Meanwhile, the Chancellor encouraged the remaining member states of the European Union to work more together for competitiveness, growth and thus for more jobs, which would be expected by the people of Europe now.

Now is not the right time for fundamental discussions about institutions or changing European conventions, she added.