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A huge German firm just revealed how badly Brexit delays will hurt the country

November 30,-0001 00:00

The chief executive of state-owned German rail operator Deutsche Bahn said a British exit from the European Union would hit business as demand in Britain would fall and there could be delays for train services. "Today you can travel from Germany or ...



German Chancellor Angela
Merkel.
Reuters

The chief executive of state-owned German rail operator Deutsche
Bahn said a British exit from the European Union would hit
business as demand in Britain would fall and there could be
delays for train services.

"Today you can travel from Germany or Poland to England via the
Eurotunnel and send freight trains to Britain without any
problems," Ruediger Grube said in an interview with German
newspaper Bild am Sonntag.

"In future trains might have to wait at the border and that would
cause train transport to become less competitive," he added.

Deutsche Bahn runs rail and bus services in Britain as part of
its Arriva international passenger transport business, while its
Schenker freight and logistics arm also has a significant British
operation.

"What's clear is that Brexit has a negative impact on our
business," said Grube. Deutsche Bahn is calculating the effects
of various different scenarios, he said.

He noted the fall in the value of the pound and said demand in
Britain would decrease. There are also concerns that British
political upheaval since the vote last month could deter foreign
investors.

Britain voted in a referendum on June 23 to leave the bloc in a
move that has hit global markets and pushed the pound to its
lowest level against the dollar since the mid-1980s.

 

Read the original article on Reuters. Copyright 2016. Follow Reuters on Twitter.

SEE ALSO: This is how catastrophic Brexit could be for Germany

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