IfW in the News

Brexit touches German funny bone


Gabriel Felbermayr accuses the EU of having manoeuvred the British into a dead end with its Brexit strategy.

Excerpt from the Article

(...) “I understand exactly why the U.K. Parliament did not want to sign up to the Withdrawal Agreement,” professor Gabriel Felbermayr, head of the Kiel Institute for the World Economy, told Marketplace.

“If I ask myself what would a German parliament do, how would they decide, I think they would have done the same thing,” he said.

Felbermayr believes it was a mistake for the EU to insist on a two-stage deal whereby the U.K. would pay a $50 billion exit fee upfront without a guaranteed free trade agreement with the bloc.

“The U.K. would be giving away its bargaining chips,” he said. “This cannot lead to a successful, mutually beneficial deal.”

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