Germany’s ailing economy can’t afford a no-deal Brexit

The UK was the ‘sick man’ when we ‘joined Europe’ in 1973. Now, with Britain on the cusp of leaving, the European Union’s largest economy is decidedly out of sorts. After failing to recover over the summer, Germany is now almost certainly in recession. The state of the fourth biggest economy on earth always matters — but with Germany dragging down the broader eurozone, its declining health could decisively impact Brexit negotiations too.

Politically, Brussels and Dublin are bullish. They have dismissed Boris Johnson’s proposals, gambling on an extension and perhaps Brexit being cancelled entirely. But such intransigence could yet cause a disorderly no-deal Brexit — which would have a pretty big impact on all major economies on the continent. With the eurozone on the edge of financial meltdown, the EU’s ailing economy needs a no-deal Brexit like a hole in the head.

Germany has long been the beating heart of the eurozone.