Brexit: Benefits and Costs for the United Kingdom – Reflections for Observers in Europe Marian Żukowski
Journal Title: Central European Review of Economics and Finance - Year 2018, Vol 24, Issue 2
Abstract
The withdrawal of the United Kingdom from the EU structures creates a new chapter in the history of the European integration. For the first time, after several decades of steady and secure functioning of the EU, a split occurs. Lofty ideas about creation of strong, coherent, wealthier and safer Europe lose in the competition with economic indicators and the national interest of the United Kingdom. Brexit is an expression of the negative evaluation of the EU functioning by the British society. This opinion is grounded in difficulties of the EU with solving current economic, social and political problems of contemporary Europe, as well as in decreased cooperation among member states. The following most important reasons for Brexit should be mentioned: the uncontrolled inflow of immigrants, increased terror threat, loss of economic independence and national identity. It is also worth noticing the successful actions of right-wing politicians who used the situation to build their own vision of the state. Consequences of Brexit shall affect both the United Kingdom and the EU member states but also non-EU countries. They shall have political, economic and social dimensions. However, at the current stage of the negotiations, it is difficult to predict all effects of the decisions taken. According to analysts, the UK shall incur financial losses, competitiveness of economy will decline, GDP will go down, political relations with neighbour states will deteriorate. Brexit shall affect particularly these states which are close trade partners of the United Kingdom. Loss of the UK as one of the economic pillars of the EU shall influence the economic situation of the entire European Union. Brexit is also a crack in the EU image as an organization cherishing the values of solidarity and humanism. Individual interests of particular member states can be a contagious example.
Authors and Affiliations
Marian Żukowski, Monika Nowakowska
Keywords
Related Articles
- EP ID EP486456
- DOI 10.21436/ceref2018.011
- Views 78
- Downloads 0
Financial standing of Polish enterprises
Analysis of financial results and selected indicators of enterprises in sixteen Polish voivodeships is the key element of this paper. The figures are obtained from publications by the National Office for Statistics - Loc...
TFP determinants in European Union member states in 2000-2014 in the light of panel study results
The aim of the article is to examine, whether and to what extent disparities in TFP levels in the group of 27 member states of the European Union in the period 2000- 2014 are the result of difference in factors determini...
The stabilizing role of unemployment benefits in Poland
This study examines the impact of unemployment benefit system in stabilizing the economy in Poland in 2008-13. The goal is to answer the question: by how much do the automatic stabilizers in the Polish unemployment benef...
Improving the Quality of Knowledge Levels Through Maturity Model in SME of Services
The aim of the paper is to show possibility of using knowledge management maturity model (KMMM) for knowledge processes assessment. As a support tool for increasing quality of the knowledge processes can be used mainly P...
Sharing economy as the new paradigm of the economy of the future. Risk analysis
Sharing economy is cooperation and sharing based on providing the opportunity to access goods and services to those, who precisely need such a service. This paper attempts to organise the yet unsettled areas of sharing e...