German regions to be heavily affected by Brexit fallout: study

BERLIN, April 5 (Xinhua) -- German regions will be amongst the most heavily-exposed to economic damage caused by Brexit in the European Union (EU), the Funke media group reported on Thursday.

The report cited an official study by the European Committee of the Regions (CoR), the EU's assembly of local and regional representatives. According to the study, 41 out of the 50 EU regions most heavily-affected by Britain's decision to leave the bloc are located in Germany.

Within Germany, the regions of Hamburg, Berlin, Duesseldorf and the Western Ruhr industrial area are predicted to suffer the greatest damage from Brexit.

According to the CoR, between 16 and 17.5 percent of gross domestic product (GDP) derived from manufacturing in these regions was vulnerable to related shocks. In comparison, the rate was more modest (between 12 and 16 percent) in other German regions.

Out of all EU member states, Germany was consequently the second-most affected by Brexit after Ireland. The CoR official ranking of the top five countries exposed to economic damage was completed by Malta, the Netherlands and Belgium.

CoR president Karl-Heinz Lambertz told Funke on Thursday that a continued close economic relationship between Britain and the EU was crucial to limit the negative effects of Brexit.

Lambertz called for a "comprehensive assessment of potential regional consequences". EU regional investment policy decisions should then have to be made on the basis of such analysis in order to ensure a smooth transition process for the bloc's regions. Enditem