October 19, 2017 / 8:28 AM / a year ago

Off-the-cliff Brexit would not derail German economic upturn: DIHK

BERLIN (Reuters) - Failure in reaching a Brexit agreement in time would not stifle Germany’s economic upswing, but such a scenario would be a huge political setback, Germany’s DIHK Chambers of Industry and Commerce said on Thursday after raising its growth forecasts.

“Our projections are based on the assumption that the people in charge are dealing with the (Brexit) matter in a way so that there won’t be a crash,” DIHK managing director Martin Wansleben said on Thursday.

Asked whether a breakdown of talks between Brussels and London had the potential to derail Germany’s economic upturn, Wansleben said: “The upswing wouldn’t be halted, but this would be a very bad signal, politically.”

Reporting by Michael Nienaber; Editing by Madeline Chambers

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