Brexit can make Britain more attractive for investors – says the head of Axel Springer27.09.2016

Brexit will be more painful for the rest of Europe than for the United Kingdom itself, which may leave the European Union stronger and in a better position than its European neighbors, said the head of the German media concern FinancialTimes Axel Springer, Mathias Döpfner.

Döpfner, the head of one of Europe's largest media company, said that Britain will face short-term difficulties after deciding to leave the European Union on the results of the referendum from June 23.

However, "in three to five years from now, I believe that England would be in a better position than the continental Europe," he added.

According to Döpfner, Britain is moving towards "a more free market-oriented model, while Europe step by step turns into a transfer union" in which funds are allocated from the successful states to those experiencing difficulties.

"And it may deter many investors," – said Döpfner in an interview with the FT, published on Tuesday.

"If Britain is to create an alternative here, I think, it is very attractive," - he added.

The June referendum results surprised many investors and CEOs, triggering the heaviest for the British political and financial upheaval since World War II and the largest one-day decline of the pound sterling against the dollar.

The Britain allies fear that the withdrawal from the EU can be a turning point in international relations, which would weaken the West in its relations with China and Russia, will undermine the efforts of European integration, and will harm the global free trade.

Axel Springer, published by Bild, which is one of Europe's biggest newspaper, in August cut its sales forecast for 2016, as the decline of the pound due Brexit hit the revenue from advertising in Britain.