Update: Brexit Insights

Brexit Referendum: Why Chemicals and Pharma Will Be Hit Hardest

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A possible Brexit would also have immense effects on other European markets, most notably Germany: Last year, chemical and pharmaceutical companies in the EU goods worth 18.5 billion euros to Britain, the lion’s share of which (namely 12.9 percent) coming from Germany (7.3 percent of all exports).

“Especially now, at a time when the economy in Europe is undergoing a timid recovery, a withdrawal from the European Union would be a bad signal for the further economic development”, stated Marijn Dekkers, President of German’s Chemical Industry Association VCI.

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