c.e.o. of the association of german banks could have you with the thank you jim. to another brags it affects bugs it's likely to interrupt the flow of pharmaceuticals between the u.k. and the e.u. potentially causing shortages that is the warning from the german pharmaceutical groups including the v c r i chemical industry industry association which called once again for a transition plan off to wednesday's failed briggs it votes in london i posted the facts of medications between the e.u. and the u.k. every year and every fourth medication in the e.u. but it comes from the u.k. the german health ministry said it didn't expect shortages but the u.k. has urged drug companies to stockpile six weeks worth of medications. and we have to say what a day for european parliament to be holding its first session of twenty nineteen as the brits wreak havoc over brags that representatives today have been celebrating this year's twentieth anniversary of europe's common currency with the so called out of europe take a listen. and her mind and now the top story we're following f

c.e.o. of the association of german banks good to have you with thank you thank you and with just well t. wants to go to briggs it may bring france is also speeding up preparations for a no deal bragg's it telling businesses to get ready for the worst german companies say that also want to hedge. and it's i don't care if it were a heart breaks it would of course have major consequences for prosperity and jobs especially in britain but we as a country that exports a great deal of it and have very close economic ties we have no interest in hard drugs. business we suffer very much because you have to see that british german trade for example is at one hundred eighty five billion a year and germany has a surplus with britain at about forty five billion a year germany more of course due to this fact there will be immediately the necessity of millions of new. beauty procedures. and dealing with the regulations and this. will cost approximately. several hundreds of millions of euro for term and business. and we have plenty more business to come including a look at what has got the turkish lira v

the e.u. still it's better there than from london. well association of german banks has called the defeat of may's deal a serious warning shot for everyone involved and the c.e.o. of that association and today a scout shai joined me and i asked him just play exactly what his group meant by that. time is running out to be prepared for a non you know deal breaks it situation because this is the worst situation that we could imagine because there's a lot of transfer of the a lot of sign of services for customers of german banks done in london that means that over the last months would be. very hard execution on how this services could be provided in the situation of a no deal this is very serious could be very dangerous if you are not prepared so what you're saying essentially is that german banks have already been preparing for the eventuality of absolutely no deal i mean how strenuous has that been no deal means that there is no longer a legal basis for all this service is done actually on this passport in the agreement which means that you don't need any additional license or so for what you're doing in london we went through all these operations are thousands

well the association of german banks has called the defeat of may's deal a serious warning shot for everyone involved and the c.e.o. of that association and today a scout shy joined me and i asked him to explain exactly what his group meant by that. time is running out to be prepared for unknown do you know deal breaks in situation because this is the worst situation that we could imagine because there's a lot of transfer of data a lot of sign of services for customers of german banks done in london that means that over the last months should be. very hard execution on how this services could be provided in the situation of a no deal brecht's it is very serious and it could be very dangerous if you are not prepared so what you're saying essentially is that german banks have already been preparing for the eventuality of absolutely no deal i mean how strenuous is that then no deal means that there is no longer a legal basis for all this service is done actually on this pos porting agreement which means that you don't need any additional license also for what you're doing in london we went through all these operation