With Angela Merkel facing a nervy final few days before this weekend’s German election, concerns are growing about the UK’s European Union (EU) exit.
Businesses in the town of Erfurt have issued a warning to the Chancellor, urging her – or her replacement in the event of a shock defeat – to respect Britain’s economic importance.
The city’s Chamber of Commerce and Industry (IHK) yesterday called for “close economic relations” to continue.
Gerald Grusser, managing director of IHK, said: “Great Britain is the second-largest trading partner for the Thuringian economy with a total volume of nearly 1.8 billion euros in 2016.
“The still close economic relations with the United Kingdom are therefore of particular importance for local businesses.”
It flies in the face of cocky German claims the UK will suffer after Brexit, with cities in mainland Europe set to benefit instead.
Last month a German bank boasted Frankfurt would steal jobs from Brexit Britain as companies fled back to the bloc.
Andreas Dombret said American banks in particular were getting cold feet about the future of the British economy.
He said: “We are in the decisive phase of location decisions … and it is clear that Dublin and Frankfurt are profiting particularly.
“Above all, the big American banks are concentrating themselves on these two cities.
“We are demanding from the institutions that they build up qualified personnel for all core areas: management, risk management, compliance, anti-money laundering and finance departments as well as critical IT functions. And that has been agreed.”
Another banking official said, while the effect would not be immediate, Germany would benefit in the long-term due to Brexit.
READ MORE: What happens if the UK leaves Brexit talks with NO DEAL?
Stefan Winter of the German Banking Association said: “There won’t be a Brexit bang and suddenly thousands of bank employees are with their families in Frankfurt.
“In five years, Frankfurt will feel the Brexit effect more strongly than in two years.”
Germany goes to the polls on Sunday with Mrs Merkel expected to secure a fourth term as Chancellor, boasting a considerable lead in opinion polls over her nearest rival Martin Schulz.