Monday, 27 June 2016

Brexit means trade and tourism suffer most in some EU nations

The EU’s remaining 27 members will have to weigh their own potential losses after the UK voted for Brexit, with a few countries in particular facing much greater stakes.

This group includes two Mediterranean holiday spots (Malta and Cyprus), a next-door neighbour (Ireland) as well as countries whose job-seeking citizens have been attracted to the UK labour market in recent years (Poland and Lithuania). These countries heavily rely on the UK both in terms of trade and tourism.

The UK’s trade with the EU, which according to the IMF was worth over US$500bil in 2015, will likely be the single-most important issue as it prepares to negotiate its exit.

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