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  3. 26/2016

UK’s “No” to EU will be costly for both sides

On Thursday 23rd, the British people have decided to leave the European Union (EU) Their vote not to remain in the European community was surprisingly clear. UK’s exit will have both political and economic consequences which are far-reaching for the country itself as well as the rest of Europe. “The reactions of the remaining member states are the crucial key now, especially France’s and Germany’s” says Reint E. Gropp, President of the Halle Institute for Economic Research (IWH) – Member of the Leibniz Association.

Authors Reint E. Gropp

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Professor Reint E. Gropp, PhD
Professor Reint E. Gropp, PhD
President

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Keywords

Brexit European Union euro area exchange rates exports

Related Publications

Cover_IWH-Online_2016_de.jpg

Brexit (Probability) and Effects on Financial Market Stability

Thomas Krause Felix Noth Lena Tonzer

in: IWH Online, 5, 2016

Abstract

On 23 June 2016, there will be a referendum in the United Kingdom (UK) on the stay of the country in the European Union (EU). Based on recent poll data, the share of supporters and opponents of an exit varies around 50%. Opponents of the UK breaking up with Brussels („Brexit“) refer to high costs in terms of stagnating economic growth if the UK leaves the EU. The risk of reduced trade, declining foreign direct investment, and a lower degree of financial market integration is high following an exit of the “single market”.

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