Business needs to prepare for worst-case on Brexit: German finance minister

FRANKFURT (Reuters) – German finance minister Olaf Scholz on Friday said although negotiations continue with British officials about the country’s exit from the European Union, businesses should prepare for a possible worst-case-scenario.

A tentative deal to manage Britain’s transition out of the common market had been reached in March, but this still hinged on a final overall deal being reached with the European Union, Scholz warned.

“There is no guarantee that an overall agreement will be reached, including over the question of the customs border between Ireland and northern Ireland,” Scholz told a Goldman Sachs (NYSE:) conference in Frankfurt, Germany.

“Companies are advised to prepare for the worst case scenario as well,” Scholz said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.