Study: British and German managers fear negative impact of Brexit

Most top chief executives in Britain and Germany regard the possible decision of the British people to leave the European Union as a threat to business, according to a cross-industry survey published online on Monday.

The Bertelsmann Foundation think tank found that 79 per cent of the business leaders surveyed want Britain stay in the EU - although support was higher among German bosses at 83 per cent, compared to 76 per cent of their British counterparts.

Under the scenario put forward by researchers, managers responded to the prospect of Britain leaving the political union but remaining a member of the single market.

Nonetheless, this did not allay their concerns. Thirty-six per cent were worried about the impact of a so-called "Brexit" on profits, 31 per cent said the move could negatively impact investment, and 29 per cent feared a drop in the workforce.

Prime Minister David Cameron has in recent weeks been fighting for reforms to the bloc ahead of an in-out referendum on Britain's place in the EU likely to be set for sometime this year.

Over half of the companies that took part in the study generated an annual turnover of over 500 million euros (559 million dollars).

Last update: Fri, 24/06/2016 - 08:49

More from Europe

Mattarella looking to usher in functioning Italian government quickly

Following crisis talks in Rome on Saturday, Italian President Sergio Mattarella said he will be taking steps soon to...

Austria to veto further EU accession talks with Turkey

Austria will block the continuation of EU talks with Ankara over Turkey's future membership in the bloc, Austrian...

Diplomats call for ceasefire in Aleppo at Paris meet

Foreign ministry officials from the West and the Middle East meeting in Paris Saturday for talks on Syria have...

French government seeks to extend state of emergency to July 2017

The French government said Saturday it would ask parliament to approve an extension to the country's state of...

No agreement reached between Russia, Ukraine on gas deliveries

Russian and Ukrainian officials failed to reach an agreement on gas deliveries this winter in a first round of EU-...