Brexit: Can The European Union Survive Without The UK After The Referendum?

EU without UK

Brexit referendum results are out, and the UK has voted to leave the European Union. The European Union was formed in the year 1957 with the intention of integrating the European countries and developing them into a superpower after World War II.

The UK becomes the first country to leave the European Union. It is certainly going to be a loss to the European Union by losing one of its influential members.

Analysts and academicians predict that in a long run, Brexit can result in a call for a referendum by other countries. Far right parties in France and nationalist parties in Netherlands and Sweden have already made demands for a referendum in their respective countries.

Countries like Poland and Denmark have shown opposition to having Euro as a single currency for the European Union. Also, the remaining member countries can demand new and less stringent deals to remain in the European Union. Such incidents can result in weakening of the European Union. We may have a weakened union of countries in future as well.

Can the EU Survive without the UK?

European Union members are subjected to contribute a large corpus of capital on an annual basis which would be used by the EU in strengthening the member nations.

France, the UK, and Germany are the three biggest economies and the largest capital contributors in the European Union. With the UK leaving the EU, the annual fund collection of EU would decrease by a significant margin. Already, Germany and France are holding series of meetings to decide on future course of actions.

Also, it has to be noted that with Brexit, a large chunk of the migrant population living in the UK from other EU nations are bound to lose their jobs in the coming years. Such happenings could add more economical and political pressure to other countries in the European Union.

EU-based business houses having substantial investments in EU are also bound to be affected adversely.

Ultimately, the European Union without the UK would be weaker and less prosperous. It will have to put a strong face to keep the smaller EU nations in the fold.

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