Ifo poll: Ger­man econ­o­mists op­pose Brexit

Financial Mirror (Cyprus) - - FRONT PAGE -

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.

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