{"id":8155,"date":"2022-06-14T17:33:17","date_gmt":"2022-06-14T17:33:17","guid":{"rendered":"https:\/\/gfk-cfs.de\/?p=8155"},"modified":"2022-06-14T17:33:17","modified_gmt":"2022-06-14T17:33:17","slug":"cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected","status":"publish","type":"post","link":"https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/","title":{"rendered":"CFS survey: German financial industry now clearly expecting a \u201cno deal\u201d Brexit \/ Little desire for further compromise from the EU, even though market distortions are expected"},"content":{"rendered":"<p style=\"text-align: justify;\">The new UK government under Prime Minister Boris Johnson is preparing to leave the EU on 31 October, with no agreement in place. Now the majority of the German financial industry is also expecting a \u201cno deal\u201d Brexit. This was shown in a recent survey by the Center for Financial Studies. Of those surveyed, 55% consider a disorderly Brexit to be probable, and 31% even see it as very probable. Only 11% are more optimistic in this regard.<\/p>\n<p style=\"text-align: justify;\">The majority of respondents (63%) believe the German financial sector is sufficiently prepared for a \u201cno deal\u201d Brexit, while 36% see a need for further measures.<\/p>\n<p style=\"text-align: justify;\">\u201cConsidering how likely a \u2018no deal\u2019 Brexit has become, the survey results are rather worrying, as there is little time left for market participants to make adjustments,\u201d Professor Volker Br\u00fchl, Managing Director of the Center for Financial Studies, interprets the survey results.<\/p>\n<p style=\"text-align: justify;\">The EU has ruled out any renegotiation of the Brexit deal and should not offer any further compromises in the hope of avoiding a \u201cno deal\u201d Brexit. This opinion is held by the majority (70%) of the German financial sector. Nonetheless, the respondents also agree (61%) that the financial markets have not yet fully anticipated a &#8220;no deal&#8221; Brexit scenario and that market distortions may therefore occur.<\/p>\n<p style=\"text-align: justify;\">\u201cThe survey indicates that the financial industry is prepared to accept the potential drawbacks of a \u2018no deal\u2019 Brexit if it means finally obtaining clarity about future framework conditions,\u201d Professor Br\u00fchl adds.<\/p>\n<p style=\"text-align: justify;\">There is also a broad consensus among respondents (88%) that if the UK leaves the EU in a disorderly fashion, more business activities and employees will be relocated to continental Europe.<\/p>\n<p style=\"text-align: justify;\">Hubertus V\u00e4th, Managing Director of Frankfurt Main Finance e.V., highlights: \u201cShould there be a Hard Brexit, which the majority of respondents assumes is the most likely scenario, it will be important for the Financial Centres in continental Europe to demonstrate their efficiency. If we succeed in cooperating across borders, Europe could emerge from the crisis even stronger.\u201d<\/p>\n<p style=\"text-align: justify;\">_______________________<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: bold;\">We would like to thank Frankfurt Main Finance e.V. for financially supporting the project. <\/span><\/p>\n<p><a class=\"_blank\" href=\"https:\/\/ifk-cfs.de\/?file:\" target=\"8609\" rel=\"noopener\">Press Release (pdf)<\/a><\/p>\n<p><a href=\"https:\/\/ifk-cfs.de\/?file:8605\" target=\"_blank\" rel=\"noopener\">Presentation (pdf, German)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new UK government under Prime Minister Boris Johnson is [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[131,130,116],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CFS survey: German financial industry now clearly expecting a \u201cno deal\u201d Brexit \/ Little desire for further compromise from the EU, even though market distortions are expected - Center for Financial Studies<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CFS survey: German financial industry now clearly expecting a \u201cno deal\u201d Brexit \/ Little desire for further compromise from the EU, even though market distortions are expected - Center for Financial Studies\" \/>\n<meta property=\"og:description\" content=\"The new UK government under Prime Minister Boris Johnson is [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/\" \/>\n<meta property=\"og:site_name\" content=\"Center for Financial Studies\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-14T17:33:17+00:00\" \/>\n<meta name=\"author\" content=\"Anna Polanska\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anna Polanska\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/\",\"url\":\"https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/\",\"name\":\"CFS survey: German financial industry now clearly expecting a \u201cno deal\u201d Brexit \/ Little desire for further compromise from the EU, even though market distortions are expected - Center for Financial Studies\",\"isPartOf\":{\"@id\":\"https:\/\/gfk-cfs.de\/en\/#website\"},\"datePublished\":\"2022-06-14T17:33:17+00:00\",\"dateModified\":\"2022-06-14T17:33:17+00:00\",\"author\":{\"@id\":\"https:\/\/gfk-cfs.de\/en\/#\/schema\/person\/c177f6eeade81cb5ab2c611cd302fa3b\"},\"breadcrumb\":{\"@id\":\"https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Startseite\",\"item\":\"https:\/\/gfk-cfs.de\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CFS survey: German financial industry now clearly expecting a \u201cno deal\u201d Brexit \/ Little desire for further compromise from the EU, even though market distortions are expected\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gfk-cfs.de\/en\/#website\",\"url\":\"https:\/\/gfk-cfs.de\/en\/\",\"name\":\"Center for Financial Studies\",\"description\":\"unabh\u00e4ngige Forschung in wichtigen Bereichen der Finanzen\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/gfk-cfs.de\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/gfk-cfs.de\/en\/#\/schema\/person\/c177f6eeade81cb5ab2c611cd302fa3b\",\"name\":\"Anna Polanska\",\"url\":\"https:\/\/gfk-cfs.de\/en\/author\/polanska\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"CFS survey: German financial industry now clearly expecting a \u201cno deal\u201d Brexit \/ Little desire for further compromise from the EU, even though market distortions are expected - Center for Financial Studies","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/","og_locale":"en_US","og_type":"article","og_title":"CFS survey: German financial industry now clearly expecting a \u201cno deal\u201d Brexit \/ Little desire for further compromise from the EU, even though market distortions are expected - Center for Financial Studies","og_description":"The new UK government under Prime Minister Boris Johnson is [&hellip;]","og_url":"https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/","og_site_name":"Center for Financial Studies","article_published_time":"2022-06-14T17:33:17+00:00","author":"Anna Polanska","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Anna Polanska","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/","url":"https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/","name":"CFS survey: German financial industry now clearly expecting a \u201cno deal\u201d Brexit \/ Little desire for further compromise from the EU, even though market distortions are expected - Center for Financial Studies","isPartOf":{"@id":"https:\/\/gfk-cfs.de\/en\/#website"},"datePublished":"2022-06-14T17:33:17+00:00","dateModified":"2022-06-14T17:33:17+00:00","author":{"@id":"https:\/\/gfk-cfs.de\/en\/#\/schema\/person\/c177f6eeade81cb5ab2c611cd302fa3b"},"breadcrumb":{"@id":"https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/gfk-cfs.de\/en\/news\/cfs-survey-german-financial-industry-now-clearly-expecting-a-no-deal-brexit-little-desire-for-further-compromise-from-the-eu-even-though-market-distortions-are-expected\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Startseite","item":"https:\/\/gfk-cfs.de\/en\/"},{"@type":"ListItem","position":2,"name":"CFS survey: German financial industry now clearly expecting a \u201cno deal\u201d Brexit \/ Little desire for further compromise from the EU, even though market distortions are expected"}]},{"@type":"WebSite","@id":"https:\/\/gfk-cfs.de\/en\/#website","url":"https:\/\/gfk-cfs.de\/en\/","name":"Center for Financial Studies","description":"unabh\u00e4ngige Forschung in wichtigen Bereichen der Finanzen","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/gfk-cfs.de\/en\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/gfk-cfs.de\/en\/#\/schema\/person\/c177f6eeade81cb5ab2c611cd302fa3b","name":"Anna Polanska","url":"https:\/\/gfk-cfs.de\/en\/author\/polanska\/"}]}},"_links":{"self":[{"href":"https:\/\/gfk-cfs.de\/en\/wp-json\/wp\/v2\/posts\/8155"}],"collection":[{"href":"https:\/\/gfk-cfs.de\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gfk-cfs.de\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gfk-cfs.de\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/gfk-cfs.de\/en\/wp-json\/wp\/v2\/comments?post=8155"}],"version-history":[{"count":0,"href":"https:\/\/gfk-cfs.de\/en\/wp-json\/wp\/v2\/posts\/8155\/revisions"}],"wp:attachment":[{"href":"https:\/\/gfk-cfs.de\/en\/wp-json\/wp\/v2\/media?parent=8155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gfk-cfs.de\/en\/wp-json\/wp\/v2\/categories?post=8155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gfk-cfs.de\/en\/wp-json\/wp\/v2\/tags?post=8155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}