According to a newspaper report, Ford is increasingly making provisions for a production withdrawal from Great Britain. The US automaker has informed Prime Minister Theresa May in a phone call with leading companies that he is preparing alternative locations overseas accordingly, „The Times“ reported yesterday.
According to one participant, other company representatives made similar warnings in the phone call. „This is no longer about eventualities. We take steps because of the uncertainty. That’s real, „the participant was quoted as saying.
Ford was initially unavailable for comment. The group operates two engine plants in the United Kingdom. In January, he announced that he would have to pay up to a billion dollars for an unregulated Brexit.
Ford is the best-selling car brand in the UK. It is the third largest market of Americans employing 13,000 people there. About one in three vehicles that Ford produces at its plant in Cologne, Germany, are delivered to the United Kingdom.
ECB: Banks are making good progress with relocation preparations
Banks from the UK with plans to move to the euro area have made good progress in their preparations, according to the ECB’s banking supervisor. The supervisors called on the institutes to adjust to any outcome of the political process, ECB director Sabine Lautenschläger said today at an event in Sydney, according to the speech.
„At present, most banks moving to the euro area have made reasonable progress in preparing for their move.“ So far, UK-based banks have been able to conduct their banking operations in all other EU countries. But after Brexit this is no longer possible. They will need a banking license in one of the remaining 27 EU countries.
