BERLIN, Feb. 26 (Xinhua) -- The German industry fears that a disorderly Brexit would cost Germany around 17 billion euros (19.3 billion U.S. dollars), the Federation of German Industries (BDI) announced on Tuesday.
In a worst case scenario, a "setback for the German economy of at least half a percent of GDP is expected. That would be about 17 billion euros less economic power this year alone," BDI's director general Joachim Lang said.
According to Lang, the question of renegotiations is no longer on the agenda of companies because there is no time for it.
The Federation of German Industries called for the "exit process to be stopped" in case the British government did not find a majority in the lower house of parliament. This stop would be better than a hard Brexit and its negative economic consequences.
"British policy must no longer postpone decisions. The options are on the table. It would be absurd if the United Kingdom were to slide into a hard Brexit in four weeks' time that even a majority in the London parliament would reject," Lang commented.
In case of a hard Brexit, it would be highly likely that the UK would slide into recession, the BDI warned.
