European Business Warned the British Prime Minister Theresa May for the Impending Contraction of Investments

Politics | June 1, 2018, Friday // 09:55| Views: | Comments: 0
Bulgaria: European Business Warned the British Prime Minister Theresa May for the Impending Contraction of Investments NDTV.com

Representatives of a number of large European companies, included in the European Industrialists Round Table, warned British Prime Minister Theresa May that Brexit's insecurity may lead to a reduction in investment in the British economy. This was reported by The Guardian.

The meeting of Prime Minister with members of ECI was held with the participation of the British Minister for the release of the UK from the EU, David Davis, as well as representatives of the companies BP, Nestl, E.ON, BMW, Norsk Hydro, Capgemini and Iberdrola and Royal Mail.

"Ensuring a smooth flow of goods is necessary for the EU and the UK economy, we need to have clarity and certainty because time is running out, uncertainty is the reason for investment cuts," ECCI representatives said.

The European Industrialists Round Table is an influential interest group within the EU, which includes executives and representatives of more than 50 large industrial and infrastructure companies in Europe with a total revenue of about $ 3 trillion.

Formal talks between London and Brussels on conditions under which Britain would withdraw from the EU began on June 19, 2017 in the Belgian capital. A year earlier, during a referendum on the issue in the United Kingdom, there was a  victory with a result of 51.9% on the side of European integrationists. Negotiations on Brexit should continue until November 2018, after which the agreement will be approved by the European Parliament and Westminster.

Brexit itself will be held on 29th of March 2019, after which, according to the plan, there must be a transitional period which will continue until 31st of December 2020.

 

 

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