Nigel Farage and other prominent leave campaigners have today been proved correct by a leading industry boss in Germany who admitted that the weaker pound has had a major impact on Germany’s growth and sales.
Generally, a weaker currency helps a country’s exporters. However, a currency becoming too weak can lead to increased living costs.
Dr Treier responded: “Yes, we can already feel it. The British Pound has been devalued since the Brexit decision, it has been devalued if we go back even further.
“And in the past year, our exports were in the black till the Brexit decision. In the end, we landed at minus three per cent. In the fourth quarter, there was a decline of nine per cent.”
He added: “This means there is already some damage. Great Britain and the economy are helped by the weak pound at the moment.
“There will be obstacles in our relationship. Great Britain will no longer be a member of the EU and therefore we will have a different type of relationship and not the same good one we have today.”
However, Dr Treier also warned that the UK will be the biggest victim of the break-up process.
The UK is not a victim of its own actions. We were a victim of a European dictatorship for more than 40 years until our nation decided to leave the EU.
The business chief explained his victim comment saying: “We will suffer injury but the United Kingdom will suffer bigger damage, at least with the relations to the German economy.
“Because of the Brexit decision there will be a decline of investment activities of German companies in Great Britain. Germany is responsible for 400,000 jobs on the island.”
Should we and other Brexiteers feel bad that our actions are hurting Germany? How about, no.