Ifo poll: German economists oppose Brexit

An overwhelming majority of German economists is opposed to the UK leaving the European Union, as the Ifo Institute has determined. The latest Economists Panel survey by the Ifo Institute together with the Frankfurter Allgemeine Zeitung shows that 85% of the respondents are against it, only 10% are in favour.

“This result fits surprisingly well with the opinion voiced by the experts in the World Economic Survey (WES) of the Ifo Institute. In April, WES polled more than 700 experts from 113 countries on Brexit: 86.6% of the respondents were against it”, remarked Niklas Potrafke, head of the Ifo Centre for Public Finance and Political Economy.

A Brexit would lead to strong economic disadvantages for the UK, according to 54% of the respondents of the economists panel, and 32% see some economic disadvantages for the UK. The German economy will only experience minor economic drawbacks, according to 65% of the panellists and 12% anticipate strong disadvantages.

One of the economists on the panel wrote: “A Brexit would be economically and politically disadvantageous for all sides and would destabilise Europe. It is a pity that the UK has not made its weight felt in Europe but has been too passive.”

Another respondent commented: “A Brexit will be significantly beneficial for the entire European Union in the long term, since the UK has been a brake on European integration.”

In another question, 93% of the economists spoke out against a German withdrawal from the EU.