Brexit’s impact on EU’s Economy and Finance

[Elisa Perez]

Again with a Brexit topic. What do you think will be the economic and financial impacts of Brexit on the EU?
Of course, Brexit will affect many other sectors, sure resulting in social changes and longer term political and institutional shifts. But thinking about the EU’s policies on freedom of movement, the economic benefits and drawbacks provided by the UK and the EU with each other, it is easy to figure out that there will be a strong impact with consequences for both of them. Of course for now it is only speculative, but I still find this topic interesting.

In 2018, the UK has registered as the fifth world’s highest GDP and the second largest in the EU. With the Brexit, the EU will face some restrictions about the budget, losing the UK’s contribution. But of course there should be other effects, like on trade, transports, migration, energy… I can’t decide which of them would be the worst.
What do you think?

[Castor Comploj]

Britain is likely to lose its financial dominance. While it has until now enjoyed privilege for being the major entry city to Europe, it will lose this dominance while firms move financial and human resources to other countries to retain stable entry into the unitary market. This is, I think, the most striking event.

[Author]

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