Wednesday, September 28, 2016

Brexit can make UK highly attractive, says Axel Springer chief

One of Germany’s most prominent businessmen has said Brexit will be more painful for the rest of Europe than for Britain, and a UK outside of the EU might prove “highly attractive” to foreign investors — in a sharp break with the German consensus on Britain’s post-EU future.

Mathias Döpfner, chief executive of Axel Springer, one of Europe’s largest media companies, said Britain was bound to experience short-term pain as a consequence of its June 23 vote to quit the EU, “but in three to five years from now, my bet would be that England will be better off than continental Europe”.

Speaking to the Financial Times, Mr Döpfner said he saw Britain moving towards a “more free market-oriented model, while Europe is step by step transforming into a transfer union”  ....