The German Mittelstand is facing a "big danger" from a no-deal Brexit as "intense and trustful business relationships" with British companies are put into jeopardy, industry leaders have warned.
The small and medium-sized businesses that underpin the German economy fear a "toxic cocktail" is being "stirred up in global trade relationships", with a no-deal Brexit a "major ingredient", warned Marc Tenbieg at the German Mittelstand Association.
While the trade body’s members have "prepared well" by shifting investment and supply chains, creating a "perfect plan for such a complex scenario as a no-deal Brexit is illusionary", he said. [...]
Mr Tenbieg called it a "tragedy" that "intense and trustful business relationships" built up over decades have been "jeopardised by poor political decision-making".
He added: "Around 70pc of German business expect bilateral business to decrease [with the UK] in 2019."