More German than UK corporate treasurers think Britain should opt for ‘Brexit’ in the European Union (EU) referendum this Thursday, according to research from EuroFinance.
A survey of more than 600 global businesses by the conference organiser and research firm, an Economist Group business , finds that nearly 30% of German corporate treasurers believe Britain is better off outside the EU, compared to just 15 per cent of UK treasurers.
Perhaps less surprisingly, 26% of Swiss corporates think Britain should cut its political ties with Brussels. Despite Brexit backing from firms across certain nations, the majority of respondents (82%) are going with the status quo and backing the UK to remain.
“It is surprising to see such a healthy number of treasurers in Germany, a country hardly renowned for Euroscepticism, backing Brexit,” commented Leslie Holstrom, editor of EuroFinance.
“Despite this, our findings clearly show that the risks of leaving are simply too high for the majority of treasurers, many of whom are already seeing the unsettling effect of the referendum on their business.”
Finance ministers back further moves to prevent multinationals from exploiting differences in tax rates between EU member countries and those outside the region.
The European Banking Authority said that its proposed rules for stronger customer authentication would be relaxed for payments under €10.
A relatively small population and take-up of the latest technologies makes the country a testbed for payment innovation, according to an ANZ Group report.
Most are ‘hugely optimistic’ that their business will succeed in the year ahead, according to Ricoh Europe.