Acasă » General Interest » Economics&Markets » A hard Brexit to cost Romania 413 mln. euro anually

A hard Brexit to cost Romania 413 mln. euro anually

22 March 2019
Bogdan Tudorache

A new study by Bertelsmann Foundation in Germany says that Romania would lose about 413 million euro annually, in a case of a hard Brexit, meaning each Romanian citizen would lose a net worth of 21 euros per year.

The study also shows that the British and the Germans would be the worst hit with total annual losses of up to €67 billion. People in the US and China could actually see a rise in incomes after Britain’s exit from the EU.

Brexit — soft or hard — is expected to cost Europeans billions of euros every year in the form of reduced incomes, a new study by Germany’s Bertelsmann Foundation shows. The impact would be particularly huge if Britain were to leave the European Union without a deal, according to Deutsche Welle.

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The losses are expected to be mainly driven by higher prices of goods and services as a result of tariffs that would kick in after Brexit. Currently, there are no tariffs in the EU single market.

Citizens in the European Union, excluding the UK, would have to endure income losses of around €40 billion ($45 billion) every year in the event of a hard Brexit, the study showed.

People in Britain stand to suffer €57 billion (48 billion pounds), or €873 per capita, in annual income losses following a „no-deal” Brexit. Export-oriented countries such as Germany and France are expected to suffer the most from a hard Brexit.

The study pegs income losses for people in Germany at around €10 billion per year.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.

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