{"id":7481,"date":"2019-02-13T11:25:35","date_gmt":"2019-02-13T11:25:35","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/german-think-tank-calls-for-eu-to-make-brexit-concessions\/"},"modified":"2019-02-13T11:25:35","modified_gmt":"2019-02-13T11:25:35","slug":"german-think-tank-calls-for-eu-to-make-brexit-concessions","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/german-think-tank-calls-for-eu-to-make-brexit-concessions\/","title":{"rendered":"German think tank calls for EU to make Brexit concessions"},"content":{"rendered":"\n
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\n The UK is the German motor industry’s largest export market
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The EU should offer the UK concessions over Brexit, a leading German economic think tank has told the BBC.<\/p>\n

The boss of the IFO Institute said steps should be taken to keep the “EU and the UK in a joint customs territory after 2020”.<\/p>\n

Gabriel Felbermayr said German firms were being affected by the uncertainty surrounding the terms of the UK’s departure.<\/p>\n

“Businesses are suffering already,” he said.<\/p>\n

Mr Felbermayr, director of the IFO, told BBC Radio 4’s Today Programme that German exports to the UK had fallen by about 10% in real terms since summer 2016. <\/p>\n

The IFO has calculated that German GDP could be permanently lower by 0.2 to 0.5% in the long-run, with larger negative effects in the short-term.<\/p>\n

“The uncertainty around this whole process is costing [German business] dearly,” he said.<\/p>\n