Of course King of Europe, ECB CEO Draghi hates Brexit – he is very much fan of globalization and an ever expanding influence of “his” currency (of course) “The president of the European Central Bank has been told by the EU’s watchdog he should drop his membership of a secretive club of corporate bankers” (src: theguardian.com) and the “Group of 30” is indeed a strange club in Washington, headed by JP Morgan and Chase (Rockefeller) Bank.)

Nobody does know what it will mean.

Bloomberg: “we expect to see bell tightening”

There are no hard numbers that show that Brexit would be a horrible thing to the UK economy.

Basically the UK government is – again – afraid how “the market” (“investors”) will react.

(src: bloomberg.com)

On 2019-03-30 UK will Brexit EU

“Another executive for a food exporter at the event worried that tariffs could wipe out profit margins and destroy its business in the U.K., where the company ships over 600 tons of cheese annually.”

Potential Pitfalls

  • British components may no longer count as EU content and that could affect whether they meet tariff-free criteria with partners like Japan and South Korea
  • Accessing corporate IT systems from British subsidiaries may breach EU data-sharing rules
  • Accounting systems need to be able to allow the U.K. to reclassify as a “third country” for tax purposes to avoid potential penalties
  • Contracts need to be reviewed to clarify which country’s laws are being applied and where conflicts will be resolved
  • Sending employees across the channel to attend conferences could raise visa issues

“Aside from initial headaches, Brexit opens up broader strategic risks for small manufacturers like Dr. Kaiser, which employs about 300 people. The company’s tools can grind materials down to one thousandth of a millimeter and the equipment is difficult to replace. But Brexit could prod British customers to look harder at alternatives, said sales manager Kiehne.” (src: bloomberg.com)

IHK Brexit Checklist:



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