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The Great Britain Exit with Multiple and “Controversial” Echoes

The Great Britain Exit with Multiple and “Controversial” Echoes

No. 1, Sep.-Oct. 2016 » TheFILEstarters

Without any doubt, the Great Britain exit – more or less anticipated – is a major event with “waves” all over the world and on multiple levels.

Brief reflections on some of them:
  1. For Romania, the influences in the short term will be minor. Over the medium and long term, there will be changes of functionality and resources within the European Union, Romania being dependent on them to a significant degree. How many positive and/or negative influences will manifest still remains to be seen and that will depend largely on the skills and personalities of the decision-makers from the shores of the Dâmbovița...
  2. The European Union will substantially change not only its configuration, but especially its functionality and its institutional behavior. The European Union may come out strengthened in the long term, if it has powerful leadership or, on the contrary... We are afraid that the contrary is much more likely!
  3. The UK will be – in our opinion – the major loser. Its direct and indirect benefits
    from the European Union, in the form of customs exemptions, European funds, financial transactions made by continental countries in London, salaries and other incomes of British specialists from the European Union “bureaucracy”, are much higher than the contribution of 0.63% of GDP of Great Britain to the European Union. In the long term, it will lose its position as the greatest European financial center. In addition, the UK faces the realistic possibility of falling apart, with Scotland and Ireland separating, supposedly to remain in the European Union.
  4. The great international powers and the global economic blocs – US, China, Japan, Russia, BRICS, ASEAN, MERCOSUR and so on – will likely take advantage of the “de facto” malfunctions of the European Union, in the reduction – at least on the short term – of its competitive capacity.
 
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OEconomica No. 1, 2016