24.06.2016
Brexit

„We need to see the referendum result as a wake-up call“

After a tight race, a small majority of the British people have voted to leave the European Union. GDV president Dr. Alexander Erdland talks about the consequences for the European project, a lack of reforms in the EU and the UK’s virtues as an economic powerhouse.

“The decision of the British people is sad news for all Europeans,” Dr. Alexander Erdland, president of the German Insurance Association (GDV), said, commenting on the result of the UK’s referendum on whether to stay in the European Union. “However, we must not let this tie us up in knots, we have to see it as a wake-up call.” It was time for bold reforms now, that propel Europe to new economic prosperity and political stability, he said.

Reforming the European institutions and putting an end to overzealous regulation
“Considering the weakening cohesion within and the fast-growing regions outside of Europe, we desperately need to make Europe more competitive. This also means reforming its political institutions and putting an end to excessive regulation,” Dr. Erdland said. “If you want people to be excited about the EU, you must make sure they can feel the benefits a united Europe affords them on a global level.”



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Alexander Erdland, GDV President:
 
„We desperately need to make Europe more competitive. This also means reforming its political institutions and putting an end to excessive regulation.“

“The migrant crisis, the debt burden of the member states, and the reforms that need to be made throughout the EU are challenges we can overcome better with than without the UK.”


 
Pulling together instead of drifting apart is the order of the day
“Now more than ever we need to strengthen the cohesion within Europe, not weaken it. The migrant crisis, the debt burden of the member states, and the reforms that need to be made throughout the EU are challenges we can overcome better with than without the UK. If the UK really left the EU, we would lose a country that has always been a proponent of a flexible economy with a clear focus on competition. These are virtues we will desperately need to move the European project forward.”