Brexit has shaken Spanish businesses and citizens says king

Vastavam web:  Brexit has created uncertainty for both Spanish businesses and citizens, King Felipe VI of Spain said today during his state visit to Britain, calling for a swift resolution.In a reception in the City of London business district before holding talks with Prime Minister Theresa May, the monarch also said there was a need to “minimize future obstacles.”We must ensure that the negotiations reduce such uncertainty to the minimum. It is vital that the framework of our future relations create the conditions for a closer trading relationship by trying to minimise future obstacles,” the monarch said.

Britain is the top destination for Spanish investment in Europe. In sectors such as banking, Spain is the second- biggest investor in Britain behind the United States.Spanish investments in Britain topped 82 billion euros that year. Meanwhile Britain is the second-biggest investor in Spain, representing 12 percent of total foreign investment.”These investments created around 110,000 jobs in Spain, where around 1,000 British companies have a base,” the king said.The main Spanish companies in Britain attended the reception, including the banks Santander and Sabadell, Inditex (Zara) and Ferrovial, which was involved in building London’s new Underground train line.

We are confident that the agreement on Britain leaving the European Union… will soon give you the necessary certainty to continue living your lives in peace and with confidence,” the sovereign said.There are around 300,000 Britons living in Spain, many of whom are retired and depend on free medical care under EU rules. The 116,000-odd Spaniards in Britain are mainly workers.”We want to encourage the Spanish and British governments to work to make this possible.”