Various research and reports have recently revealed that the remaining nations inside Europe may experience £99.5 billion or 112 billion euros in losses following a no Brexit deal despite the United Kingdom remaining to suffer further the most losses following the proceedings of the deal with the British economy at risk of losing as much as £125 billion by the year 2020.
While the Eurozone would still suffer on an economic basis, some analysts have pointed out that the EU may suffer bigger losses than expected in the decade to come. Others have also pointed out that other possible implications of the British exit on huge economies in Europe as it prepares for the upcoming Brussels negotiations with the trading relationship with the United Kingdom in the future.
The estimated costs have resulted from the recent quantification from economists regarding all the possible impact of the British exit regardless of the mixed results with economists stating different levels of conclusions regarding the future of both economies.
On the other hand, British chancellor Philip Hammond has stated that Britain may keep an economy similar to that of Europe following the exit from the Union and even urged Europe to keep the United Kingdom close.
Scotland To Lose £16 Billion A Year
Following reports regarding the possible economic effects of the following Brexit negotiations and proceedings, the economy of Scotland is now at risk of facing £16 billion in losses as the British economy prepares to separate itself from the European Union as a number of forecasts on the Scottish government revealed.
The analysts also revealed that a hard British exit where the United Kingdom would fall back on the rules of the World Trade Organization would lead to costs worth £12.7 billion for Scotland and may lead to a decline of 9.6% in real household incomes or as much as £2,263 per head.
Despite this, Scotland leader Nicola Sturgeon has stated her intention to push the government of Britain in remaining in the single market of Europe after Brexit adding that a deal would be back by growing political majority.
Sturgeon has stated that remaining in the single market is the only option that makes sense should the Brexit proceed following the Brexit impact assessment unveiling. She also argued that months have already been wasted by Britain during the first phase of British talks and that it needed to be more realistic when it comes to the future trade deal negotiations which begin this March.
This is FSM News bringing you the freshest and biggest market updates. We provide in-depth analysis and detailed news stories to keep investors constantly informed in this fast-paced, dynamic industry. Read more from us and be updated!