Brexit and the Economy. Why Britain will remain a Global Player
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491_9783668697713
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Document from the year 2017 in the subject Business economics - Economic Policy, grade: 1,9, University of Osnabrück (IfAA), course: Brexit, language: English, abstract: On 23th June 2016 the UK voted to leave the European Union. It is scheduled to depart at 11pm UK time on Friday 29th March, 2019. The UK and especially Prime Minister Theresa May and David Davis, Secretary of State for Exiting the European Union, and EU negotiators have provisionally agreed on the three divorce issues of how much the UK owes the EU, what happens to the Northern Ireland border and what happens to UK citizens living elsewhere in the EU and EU citizens living in the UK. Several issues like possible new trade agreements have not been finally negotiated yet. Nevertheless, this paper aims to show the economic consequences of Brexit and why Britain will still remain a powerful nation for the next decades. The main part is based on the opinions of powerful economic leaders or experts. When talking about economic issues and possible developments you should keep in mind that there is no one who can accurately predict all details of its economic impact. Considering all relevant factors is nearly impossible. There are four reasons for that: There are several impacts on many areas of the economy, like currency fluctuations or inflation, which are hard to predict. The outcome is dependent on the conditions of the final deal which has not been finally negotiated yet. There is no precedent. Nothing like a Brexit happened before. The economy is always unpredictable.Even David Davis, as the Secretary of State for Exiting the European Union, admits that he cannot quantify the economic impact of Brexit. This unpredictability makes Brexit one of the most discussed topics with a wide range of different opinions.
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