Reuters reports that German companies are scaling back their investment in Britain ahead of its June 23 referendum on membership of the European Union, and German industry is becoming increasingly vocal in warning that a Brexit would hit both countries’ economies.
This story should be no surprise. The risks of a Brexit are real and German firms are mitigating against potential loss.
The economic evidence against Brexit is overwhelming. Meanwhile Brexit sponsors and their supporters continue in denial. The central message of the Brexiteers is xenophobia – yet it is questionable that immigration would be seriously curtailed with a Brexit; the Economist highlighted that immigrants would still be required to support UK economic growth because of the skills shortage of the indigenous population.