The British Prime Minister Theresa May has set the course for the Brexit negotiations and announced that the United Kingdom intends to leave the European single market. Furthermore, May has committed to renegotiate Britain's membership in the European customs union and to define own rules with respect to immigration policy. Professor Achim Wambach, President of the Centre for European Economic Research (ZEW), comments on Great Britain's Brexit strategy.
"Theresa May has outlined the position Great Britain intends to take in Europe and in the world in terms of economic policy. If, at the end of the day, truly viable trade agreements are to be concluded, it is important for Germany to decide on the kind of relations it wants to entertain with Britain.
One of the European Union's great advantages is its single market, with its transparent and efficient competition rules. Such kind of 'win-win' agreements are also to be found in other policy areas. It is these common interests which need to be safeguarded in negotiations with the UK."
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