4/1/2019, 10:27 AM (Source: TeleTrader)
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Chart for: SIEMENS AG  NA O.N.

Siemens UK CEO urges MPs to unite on Brexit

Chief executive officer of Siemens UK, Jurgen Maier, pleaded with British lawmakers to unite around a Brexit proposal that would deliver "economic security and stability." In an open letter to MPs published on Politico's website on Monday, Maier warned the political deadlock surrounding Britain's departure from the European Union has caused damage to the "country's tremendous reputation as an economic powerhouse," highlighting the UK faces "permanent damage," particularly in the manufacturing and high-tech sectors.

Maier went on to state a UK-EU customs union would be the preferred option for businesses as "it is an essential part of frictionless trade and saves businesses billions every year in pointless and unproductive customs declarations." "Enough is enough. We are all running out of patience. Make a decision and unite around a customs union compromise that delivers economic security and stability," he concluded.

On Friday, British Prime Minister Theresa May's withdrawal agreement was rejected for the third time.

Breaking the News / JC