BERLIN, Feb. 11 (Xinhua) -- A no-deal Brexit would hit German labour market particularly hard and more than 100,000 jobs in Germany could be affected, a study showed on Monday.
A hard Brexit would have consequences for international trade and labour markets in many countries, including outside Europe. More than 600,000 jobs may be affected worldwide, according to the study by the Halle Institute for Economic Research (IWH).
"A hard Brexit would disrupt global value chains," stated study author Oliver Holtemoeller, vice president and head of the macroeconomics department at IWH.
"This is why Britain's disorderly withdrawal from the EU has the potential to cause a significant loss of wealth. From an economic perspective it is crucial that a deal can still be reached," Holtemoeller added.
In addition, a hard Brexit would particularly affect German car industry. A total of 15,000 employees in the German automotive industry could be affected by the decline in sales.
