Mubasher: German Economy Minister Peter Altmaier on Monday said that he was optimistic a scenario in which the UK leaves the European Union (EU) without a trade deal could be avoided.

Nevertheless, Altmaier stressed that the German government was prepared for all possibilities.

“Personally I’m optimistic that we can avoid a hard Brexit but the German government is of course prepared for all possible scenarios,” Altmaier told rbb radio.

The German minister did not foresee a recession in Germany, if the UK leaves the EU without a deal, as long as Germany acted in a smart way, rbb said.

“Of course we must give tax incentives because corporate taxes have continually increased in recent years while they have fallen in other European countries,” Altmaier said.