Matthias Diermeier, Personal Aid to the Director of the Cologne Institute for Economic Research, Prof Dr Michael Hüther, delivered the final speech. He presented results of research conducted with focus on the possible outcome of the upcoming Brexit: for example the negotiations between EU and UK bargaining about free market access, contributions to the EU household as well as free movement of people between the EU and the UK. The economists took into account how tough or easy the UK's and the EU's negotiating strategies might be and listed four possible scenarios. From an economical point of view, the EU should go for a hard negotiation strategy, said Diermeier, not allowing the UK to restrict the free movement of European workers since it is an essential element of the EU single market. If the UK would also negotiate tough, it would mean the complete loss of British access to the European market. This would result in the UK needing to negotiate new individual trade agreements with every EU country. The worst case scenario would be hard negotiations by the UK and soft negotiations by the EU, as this would probably lead to further exemptions for other members and eventually to a breakdown of the European system.
After the impulse speeches, the audience entered into a lively discussion with the speakers. A particular point of discussion was the question of immigration and free movement of people between the EU and the UK with very different opinions being raised, once again highlighting the controversial nature of the topic as a whole.
Press release: Deekeling Arndt Advisors Frankfurt Seminar: "The Future of Europe"
The event was part of AMO's strategy to host a bi-annual workshop, conference or seminar for clients to discuss the latest issues and trends affecting the world in general and the financial industry in particular.
Report on the Press Breakfast
November 3, representives of the German financial press and the AMO Partnership came together for a press breakfast.