German Economic Affairs and Energy Federal Minister Peter Altmaier addresses the media in Berlin, Germany, July 17, 2018. REUTERS/Fabrizio Bensch

BERLIN (Reuters) - German Economy Minister Peter Altmaier said on Monday that he was upbeat a hard Brexit could be avoided but 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.

Rbb said Altmaier did not foresee a recession in Germany even in the case of a hard Brexit as long Germany acted in a smart way. It cited him as saying: “Of course we must give tax incentives because corporate taxes have continually increased in recent years while they have fallen in other European countries.”