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Czech Republic: The “Czexit” discussion worries companies
05/24 2018 // International

Czech Republic: The “Czexit” discussion worries companies

A survey by the German-Czech Chamber of Commerce revealed that around one in three companies could shift investments. Eight out of ten companies are worried about the discussion about a “Czexit”, the Czech Republic leaving the EU.

No longer part of the EU? That would be a big change for the Czech Republic (photo: Prague). Source: pixabay.com

Companies are responding to the “Czexit” debate in the Czech Republic with concern. This was stated by 83% of foreign investors and two-thirds of Czech companies in a flash survey conducted by the German-Czech Chamber of Industry and Commerce (DTIHK) among 150 companies. If the country leaves the EU, around one-quarter would consider reducing investment, and just under one in three companies would consider relocating. The alarm was triggered by political negotiations on an EU referendum.

Companies feared the risk of the restriction of freedoms of the EU internal market (74%). Fears were also expressed about the introduction of tariffs and taxes (66%), increased bureaucracy (61%), lost sales (60%) and redundancies (36%). "We do not see “Czexit” as a real alternative that would improve the current situation," Bosch’s Milan Šlachta told DTIHK.

 

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