We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Berlin — The EU’s balance of power will shift against its more market-orientated members if the UK drops out, the German government’s council of economic advisers said, calling for "constructive negotiations" to keep Britain in the EU despite the Brexit referendum. The short-term economic effects on the UK were likely to remain moderate and would affect the UK more than its partners, although "a sharp collapse" was not very likely, the council said in its annual report to German Chancellor Angela Merkel on Wednesday. If Brexit could not be stopped, negotiations must seek to strike a balance between preserving close economic links and avoiding the risk of setting a precedent for other countries, it said. "There is still a chance to prevent an exit through constructive negotiations or at least to negotiate a succession agreement which minimises the damage for both sides," the council said. While "concessions to the UK in detail mustn’t be a taboo", the "four basic freedoms are, howeve...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.