View More View Less
  • 1 University of Trento, Italy
Restricted access

Purchase article

USD  $25.00

1 year subscription (Individual Only)

USD  $700.00

The consultative referendum held on June 23, 2013, showed that a majority of British voters are in favour of leaving the EU. Markets reacted and adapted, and politics made the first steps towards a UK outside the EU and an EU without Britain. This paper looks at the expected effects of Brexit in different fields: political and social effects, consequences for production and trade, and financial and fiscal effects. It then presents the institutional process of leaving the EU, stressing its indeterminacy, and considers the first steps undertaken so far. It concludes that the EU negotiation position is weak because of its internal problems and calls for the priority given in reforming the EU.

  • Bond, I.Besch, S.Gostynska-Jakubowska, A.Korteweg, R. – Camino Mortera-Martinez, C.Tilford, S. (2016): Europe after Brexit Unleashed or Undone? London: Centre for European Reform, April.

    • Search Google Scholar
    • Export Citation
  • Cernobbio, F. G. (2016): Giusta la protesta dei bancari, ma i tagli ci saranno (The protest of bank clerks is correct, but cuts will go on). L’Huffington Post, September 18 (http://www.huffingtonpost.it/2016/09/03/cernobbio-ghizzoni-banche_n_11846036.html)

    • Search Google Scholar
    • Export Citation
  • Dallago, B. (2016): One Currency, Two Europes. Towards a Dual Eurozone. New Jersey: World Scientific Publishing.

  • Davis, D. (2016): Oral Statement to Parliament. Exiting the European Union. Ministerial statement 5 September 2016 (https://www.gov.uk/government/speeches/exiting-the-european-union-ministerial-statement-5-september-2016).

    • Search Google Scholar
    • Export Citation
  • De Grauwe, P. (2016): Why the European Union will Benefit from Brexit. Social Europe, February 24 (https://www.socialeurope.eu/2016/02/why-the-european-union-will-benefit-from-brexit).

    • Search Google Scholar
    • Export Citation
  • European Council (2016a): A New Settlement for the United Kingdom within the European Union. Official Journal of the European Union, February 23 (2016/C 69 I/01) (http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52016XG0223(01)&from=EN).

    • Search Google Scholar
    • Export Citation
  • European Council (2016b): The Bratislava Declaration (http://www.consilium.europa.eu/pressreleases-pdf/2016/9/47244647412_en.pdf (last accessed September 17, 2016).

    • Search Google Scholar
    • Export Citation
  • Evenett, S. J.Fritz, J. (2016): Global Trade Plateaus. The 19th Global Trade Alert Report. London: CEPR Press.

  • Ferreira-Lopes, A. – Neves Sequeira, T. (2014): The Dynamics of the Trade Balance and the Terms of Trade in Central and Eastern European Countries. Acta Oeconomica, 64 (1): 5171.

    • Search Google Scholar
    • Export Citation
  • García-Herrero, A.Xu, J. (2016): Assessing China’s Post-Brexit Globalisation Strategy. Brussels: Bruegel (http://bruegel.org/2016/07/assessing-chinas-post-brexit-globalisation-strategy/)

    • Search Google Scholar
    • Export Citation
  • Giles, Ch. (2016): What are the Economic Consequences of Brexit? Financial Times online, February 22 (https://www.ft.com/content/70d0bfd8-d1b3-11e5-831d-09f7778e7377)

    • Search Google Scholar
    • Export Citation
  • Gow, D.Meyer, H. (eds) (2016): Brexit. The Politics of a Bad Idea. Bonn –Berlin: Friedrich-Ebert-Stiftung (https://www.socialeurope.eu/wp-content/uploads/2016/05/Brexit-The-Politicsof-a-Bad-Idea.pdf, last accessed September 15, 2016).

    • Search Google Scholar
    • Export Citation
  • Grant, Ch.Springford, J.Bond, I. (2016): Post-referendum Bulletin, No. 109, London: Centre for European Reform, July 18.

  • Gros, D. (2016): The Not-So-High Costs of Brexit. Project Syndicate, 8 September (https://www.project-syndicate.org/commentary/overblown-costs-of-brexit-by-daniel-gros-2016-09,last accessedSeptember 15, 2016).

    • Search Google Scholar
    • Export Citation
  • Haass, R. N.Fonte, J. (2016): Brexit: Good for the United States? The American Interest, June 15.

  • Hall, P. (2016): The Roots of Brexit. 1992, 2004, and European Union. Foreign Affairs, June 28.

  • Hawkins, O. (2016): Migration Statistics. Briefing Paper, No. SN06077, 7 September, London: House of Commons Library.

  • IMF (2016): Uncertainty in the Aftermath of the U.K. Referendum. World Economic Outlook Update, Washington, D.C. July 19.

  • Irwin, G. (2015): Brexit: The Impact on the UK and the EU. London: Global Counsel, June (https://www.global-counsel.co.uk/sites/default/files/special-reports/downloads/Global%20Counsel_Impact_of_Brexit.pdf).

    • Search Google Scholar
    • Export Citation
  • Juncker, J-C. (2014): A New Start for Europe: My Agenda for Jobs, Growth, Fairness and Democratic Change. Political Guidelines for the next European Commission, Opening Statement in the European Parliament Plenary Session, Strasbourg, July 15 (https://ec.europa.eu/priorities/sites/beta-political/files/juncker-political-guidelines_en.pdf).

    • Search Google Scholar
    • Export Citation
  • Juncker, J-C. (2016): State of the Union Address 2016. Strasbourg, September 14 (ec.europa.eu/soteu, last accessed September 15, 2016).

    • Search Google Scholar
    • Export Citation
  • Juncker, J-C.Timmermans, F. (2016): State of the Union 2016. Letter of intent to President Martin Schulz and to Prime Minister Robert Fico (http://ec.europa.eu/news/2016/09/20160914_en.htm, last accessed September 15, 2016).

    • Search Google Scholar
    • Export Citation
  • Kierzenkowski, R.Pain, N.Rusticelli, E.Zwart, S. (2016): The Economic Consequences of Brexit: A Taxing Decision. OECD Economic Policy Paper Series, No. 16, April.

    • Search Google Scholar
    • Export Citation
  • Mimica, N. (2016): Brexit and me. Blog Post, June 29 (http://ec.europa.eu/commission/2014-2019/mimica/blog/brexit-and-me_en).

  • MOFA (2016): Japan’s Message to the United Kingdom and the European Union. Tokyo: Ministry of Foreign Affairs of Japan, released on September 4, 2016 (http://www.mofa.go.jp/files/000185466.pdf).

    • Search Google Scholar
    • Export Citation
  • ONS (2015): United Kingdom Balance of Payments. The Pink Book: 2015, London: Office for National Statistics. Release date: October 30, 2015 (https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/compendium/unitedkingdombalanceofpaymentsthepinkbook/20 15-10-30).

    • Search Google Scholar
    • Export Citation
  • Pickard, J.Cadman, E. (2016): Brexit Ministers Pounce on Upbeat Economic Data. The Financial Times online, September 5 (https://www.ft.com/content/bd3ff6e6-7342-11e6-b60a-de4532-d5ea35).

    • Search Google Scholar
    • Export Citation
  • Piris, J-C. (2016): Article 50 is not for ever and the UK could Change its Mind. The Financial Times online, September 1 (https://www.ft.com/content/b9fc30c8-6edb-11e6-a0c9-1365ce54b926).

    • Search Google Scholar
    • Export Citation
  • Pisani-Ferry, J.Röttgen, N.Sapir, A.Tucker, P.Wolff Guntram, B. (2016): Europe after Brexit: A Proposal for a Continental Partnership. Brussels: Bruegel, August 25 (http://bruegel.org/2016/08/europe-after-brexit-a-proposal-for-a-continental-partnership/).

    • Search Google Scholar
    • Export Citation
  • R&C (2016): UK Overseas Trade Statistics June 2016. Customs Trade Statistics, HM Revenue & Customs. Released: August 9. (https://www.uktradeinfo.com/Statistics/OverseasTradeStatistics/Pages/OTS.aspx)

    • Search Google Scholar
    • Export Citation
  • Schulz, M.Tusk, D.Rutte, M.Juncker, J-C. (2016): Joint Statement by Martin Schulz, President of the European Parliament, Donald Tusk, President of the European Council, Mark Rutte, Holder of the Presidency of the Council of the EU, Jean-Claude Juncker, President of the European Commission. Brussels, June 23 (http://ec.europa.eu/ireland/news/joint-statement-onoutcome-of-uk-referendum-on-eu-membership_en)

    • Search Google Scholar
    • Export Citation
  • Springford, J.Tilford, S.Odendahl, C.McCann, P. (2016): The Economic Consequences of Leaving the EU: The Final Report of the CER Commission on Brexit. London: Centre for European Reform, April 21.

    • Search Google Scholar
    • Export Citation
  • Springford, J.Tilford, S. (2014): The Great British Trade-off. The Impact of Leaving the EU on the UK’s Trade and Investment. London: Centre for European Reform, January.

    • Search Google Scholar
    • Export Citation
  • Stephens, P. (2016): Britain is Falling into Denial about Brexit. September 8, The Financial Times online (https://www.ft.com/content/41ea5914-74f5-11e6-b60a-de4532d5ea35).

    • Search Google Scholar
    • Export Citation
  • Sushentsov, A. (2016): Russia on Brexit: The Real Costs and Benefits. London: European Leadership Network, April 5 (http://www.europeanleadershipnetwork.org/russia-on-brexit-the-realcosts-and-benefits_3655.html).

    • Search Google Scholar
    • Export Citation
  • Tusk, D. (2016): Remarks by President Donald Tusk after the Bratislava Summit. European Council (http://www.consilium.europa.eu/en/press/press-releases/2016/09/16-tusk-final-remarks-bratislava, last accessed September 17, 2016).

    • Search Google Scholar
    • Export Citation
  • UKTI (2015): Inward Investment Report 2014/15. London: UK Trade & Investment (https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/435646/UKTI-Inward-Investment-Report-2014-to-2015.pdf).

    • Search Google Scholar
    • Export Citation
  • Villeroy de Galhau, F.Weidmann, J. (2016): Europa braucht mehr Investitionen. Süddeutsche Zeitung. 8 February (English version: Europe at the Crossroads (https://www.bundesbank.de/Redaktion/EN/Standardartikel/Press/Contributions/2016_02_08_weidmann_galhau.html?startpageId=Startseite-EN&startpageAreaId=Teaserbereich&startpageLinkName=2016_02_08_weidmann_galhau+361962)

    • Search Google Scholar
    • Export Citation
  • Webb, D.Keep, M. (2016): In Brief: UK–EU Economic Relations. Briefing Paper, No. 06091, London: House of Commons Library, June 13.

    • Search Google Scholar
    • Export Citation
  • The Dynamics of the Trade Balance and the Terms of Trade in Central and Eastern European Countries (Alexandra FERREIRA-LOPES –Tiago NEVES SEQUEIRA) 1 51–71