Cyprus Mail
BrexitBritainEuropeWorld

Germany must prepare for a no-deal Brexit says finance minister

A pro-Brexit campaigner holds a placard as a tourist bus passes by in Westminster London

Germany must prepare for a hard Brexit but will do everything possible to avoid it, Finance Minister Olaf Scholz said on Friday.

He said he hoped the draft agreement on the table would be approved.

Asked about the possibility of a no-deal Brexit, Scholz said: “One has to prepare for this variant…But we will do everything we can to avoid it.”

Speaking at a banking conference in Frankfurt, he said Germany needed a strong banking industry for its economy and added that Europe was better positioned for any possible financial crisis than a decade ago but still had a lot to do.

Scholz said Germany was close to developing a solution on a joint euro zone budget that he assumed would be acceptable for other countries.

Related Posts

Armed man tried to breach FBI’s Cincinnati building, authorities say

Reuters News Service

Ukraine preparing for ‘tragedy’ at Russian-held nuclear plant – minister

Reuters News Service

Twitter to clamp down on ‘misinformation’ ahead of U.S. midterms

Reuters News Service

McDonald’s to start reopening restaurants in Ukraine

Reuters News Service

Russian-backed separatist head says Azov trial to begin this summer

Reuters News Service

‘No-one can stop them’: African migrants aim for Spain’s Canary Islands

Reuters News Service