The EU member states agreed to give a short extension of the Brexit deadline until the 12th of April. This time is approaching and the United Kingdom with the British House of Commons will have to decide in a fast manner. Apart from that, companies should be ready for a “chaotic exit” of the United Kingdom.
“The EU is accommodating the British and showing good will to prevent a hard Brexit and to avert damage to the economy on both sides” says Thilo Brodtmann, Executive Director of the VDMA. “Now is the time for the UK to show a sense of responsibility and take this last chance for a regulated exit. However, confidence in British policy is approaching zero. Companies should therefore prepare for a chaotic Brexit on 12 April. This makes it all the more important that the EU has formulated clear conditions for the extension of the deadline. It is time for Europe to finally close the tiresome Brexit chapter and face other challenges with full force, such as trade with China, climate change or a possible reform of the EU”.