Saturday, 25 March 2017

What Is At Stake for EU Economies after Brexit? - Counting the Cost

The Brexit battle lines are being drawn. European leaders are due to meet at the end of April, when they will lay out their strategy for talks with the UK, following Theresa May's formal notification on the British departure from the European Union.

A deal is expected to be reached by March 2019. In 2014, 45 percent of all UK exports went to the EU, which is $284bn worth of goods. After Germany, the UK is the trading bloc's second largest economy, and it imports over $360bn worth of goods from its fellow EU members. In 2015, the UK contributed over $16bn to the EU budget and received about $7.4bn back in aid and subsidies from Brussels.