Friedrich Merz: Brexit is Biggest EU Threat

Angela Merkel announced last week that she would not seek re-election as leader of the CDU at the party’s conference next month. She said that she would stay on as Chancellor of Germany.

Friedrich Merz, the Christian Democratic Union’s general secretary, is polling ahead of Mrs Merkel’s favourite to replace her, Annegret Kramp-Karrenbauer.

And today the 62-year-old conservative warned Brexit will have a major impact on Europe’s economy and played down EU hopes of a second referendum that could end Brexit.

Speaking to a discussion panel on Europe’s growth challenge hosted by politics and current affairs think tank Chatham House, the CDU leader candidate said the UK could rejoin the EU.

He said: “Brexit will happen, perhaps they will come back one day.”

Mr Merz added that despite euro being too weak for the German economy, it is still a good thing for his country because others in the bloc are not strong enough to benefit from the exchange rate.

He said: “Let’s face it, we are benefiting from the monetary policy which most of the people in this country do not want. But we benefit from it, fundamentally,”
“And this currency, which is in the meantime too weak for our economy, is still too strong for most of the others.
“We are benefiting within the European Union, within the internal market, but beside that we are benefiting in international trade — towards China, towards the U.S., towards other regions in the world — from this currency policy.”