June 8, 2018 / 2:19 PM / 2 months ago

Business needs to prepare for worst-case on Brexit - German finance minister

FRANKFURT, June 8 (Reuters) - German finance minister Olaf Scholz on Friday said although negotiations continue with British officials about the country’s exit from the European Union, businesses should prepare for a possible worst-case-scenario.

A tentative deal to manage Britain’s transition out of the common market had been reached in March, but this still hinged on a final overall deal being reached with the European Union, Scholz warned.

“There is no guarantee that an overall agreement will be reached, including over the question of the customs border between Ireland and northern Ireland,” Scholz told a Goldman Sachs conference in Frankfurt, Germany.

“Companies are advised to prepare for the worst case secario as well,” Scholz said. (Reporting by Edward Taylor, editing by Thomas Escritt)

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