|Author (Person)||Freudenstein, Roland|
|Publisher||Wilfried Martens Centre for European Studies|
|Publication Date||June 2015|
|Content Type||Journal | Series | Blog|
The debate surrounding a potential BREXIT has largely focused on the costs and disadvantages for Britain of making such a move. However, Britain leaving the EU would also alter the strengths and profile of the European Union. Britain is the EU’s second largest economy, a significant net contributor to the EU budget, hosts Europe’s only global financial centre and is an important driver of single market reform on the European stage. In her absence, the EU will lose a key proponent of the market economy and free trade as drivers of economic growth and prosperity. In this context, while BREXIT would be a catastrophe for Britain, it would also, as this INFOCUS identifies, fundamentally change the profile and focus of the EU.
|Countries / Regions||Europe, United Kingdom|