United Kingdom and Gibraltar European Union membership referendum
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Although EU diplomats do not expect a breakthrough, British Prime Minister Boris Johnson's Brexit talks with European Commission chief Jean-Claude Juncker are still under special scrutiny. Both meet for the first time for a direct conversation. Business representatives urgently need an agreement in the Brexit dispute.
The business association BusinessEurope demanded that a British exit from the EU without a contract be definitely ruled out because it would be a "disaster" for citizens and the economy on both sides. After a hard break, goods would be harder to get and more expensive, and traveling would be more complicated, the association warned.
"We need to ensure a smooth transition from today's relationship to the future relationship between the EU and the UK, with a clear framework agreement that gives citizens and businesses confidence," said association chief Markus Beyrer. "We urge both sides to try everything reasonable and engage in constructive dialogue to avert a no-deal."
While the uncertainty surrounding Brexit's postponement is not ideal, it should be considered, the association said. The advantage for citizens and the economy in case of a regulated resignation would be the transition period provided for in the contract until the end of 2020, during which practically nothing changes at first. Over time, both sides want to negotiate their future relationships.
Chamber of Commerce corrects growth forecast down
In the meantime, uncertainty is growing in the economy. The British Chamber of Commerce has scaled down its forecasts for UK economic growth because of the Brexit poker, the miserable global economy and ongoing trade disputes.
The association expects the UK economy to grow by 1.2 percent this year and only 0.8 percent next year. That would be the lowest growth rate since the recession in 2008/09. Not included in the forecast is the possibility that Britain could not prevent a hard Brexit on 31 October.
British authorities said that the government was still seeking an agreement. Johnson therefore wants to confirm in the conversation, however, that he would reject a further extension of the Brexit period, should it be offered.
The Prime Minister wants to change the final EU exit agreement, which the European Union rejects so far. If no agreement is reached, Johnson is threatened with an unregulated Brexit at the end of October - even though the British Parliament does not want a "no-deal" and in case of an emergency calls for a further extension of the withdrawal period.
The bottom line is the question of how, despite Brexit, a fixed EU external border between Ireland and Northern Ireland can be avoided. For a new division of the only 20 years ago pacified island could cause unrest.
Merck increases its pharmaceutical stocks
Besides the Northern Ireland question, there are also worries about possible supply bottlenecks. For example, the chemical and pharmaceutical group Merck has increased the local drug stores in the event of a disorderly Brexit.
45 million packs of medicines from the UK were brought into the EU each month, and 35 million were turned around on the island, said Merck CEO Stefan Oschmann. "It would be inconceivable if there were lengthy border controls and patients lacked important medicines."
In a Brexit without agreement with Brussels, the supply of medicines in the UK is a major concern. While the Federal Ministry of Health does not see any evidence of drug shortages in Germany, there have been repeated warnings in the UK - most recently in internal "Yellowhammer" government documents in London. The United Kingdom is one of the largest consumers of German medicines. The pharmaceutical trade with the EU has already collapsed in 2018 according to the Association of the Chemical Industry (VCI).