Companies need to plan for hard Brexit

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The resignation of Prime Minister May makes a chaotic Brexit more likely than ever. Businesses should take urgent precautions.

British Prime Minister Theresa May has announced her resignation. Thilo Brodtmann, Executive Director of the VDMA, comments:

"The resignation of Prime Minister May unfortunately also means that the withdrawal agreement negotiated with the EU has even less chance of being ratified in Great Britain. This makes a chaotic Brexit at the end of October more likely than ever. Businesses should take urgent precautions, such as anticipating disruptions in their supply chains. The mechanical engineering industry still hopes that the next Prime Minister will be able to find a majority for a compromise with the EU. The key lies in the hands of the British, who must finally develop a clear vision of their future after Brexit. The position of the remaining member states that the preservation of the internal market and the EU has priority over further negotiations with Great Britain must not be changed".