Studies: Proposed referendum on United Kingdom membership of the European Union would shock for British economy – SPIEGEL ONLINE

A withdrawal from the European Union would plunge the British economy in years of uncertainty. . This is the result of two studies come on behalf of industry CBI and the European financial market association AFME

Thus would a Proposed referendum on United Kingdom membership of the European Union, the economic relations of Great Britain with the rest of the EU call into question: Higher interest rates on loans and lower investments would result as well as restrictions the foreign trade.

The British are split according to surveys in the Proposed referendum on United Kingdom membership of the European Union issue. The percentage of EU supporters is like the enemy at about 40 percent, the rest is undecided.

The British economy would force according to CBI study by 2020 in the worst scenario, by 5.5 percent to be lower than for a stay in the EU. This corresponds to a cost of around one hundred billion pounds, or about 128 billion euros. 950,000 jobs would be lost.

In the best case, the cost is 56 billion pounds. In this scenario, the UK acts expeditiously new free trade agreement with the EU.

costs greater than the savings

The savings from a Proposed referendum on United Kingdom membership of the European Union would for the negative consequences nullified trade and investment by far, said CBI Managing Director Carolyn Fairbairn. This let not be avoided, even if the UK is negotiating new trade agreements with the former EU partners. “Even in the best case there would be a severe shock to the British economy.”

In the study, positive effects are taken into account by the Proposed referendum on United Kingdom membership of the European Union. This includes, for example, that Britain would no longer have to pay into the EU budget.

Especially hard a Proposed referendum on United Kingdom membership of the European Union would probably make the banks. “On banks and investment firms come as a result of new restrictions on cross-border transactions likely significant adverse consequences,” it says in the AFME study.

Many major international banks such as JPMorgan, Morgan Stanley and Goldman Sachs have their European headquarters in London. In the case of Brexits they would lose their business opportunities in other European countries, which are regulated by EU law.

Again and again, there are also voices from the business community for a Proposed referendum on United Kingdom membership of the European Union. Last Earlier this month, the director general of the Association BCC had resigned after he called for an exit. He had therefore asked against his association which behaves neutrally in the Proposed referendum on United Kingdom membership of the European Union issue.