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As a member of the latter, the UK's departure will weaken the liberal bloc as the UK has been a sizeable and fervent proponent of an economically liberal Europe, larger trade deals with third countries and of further EU enlargement. In the Council, during the UK's membership there were two blocs, each capable of forming a blocking minority against the other: the protectionist bloc of mainly southern states and the liberal bloc of mainly northern states. Its absence will impact the ideological balance within the EU institutions. Ideological shift Īs the EU's third most populous state, with over 12% of the Union's population, the UK was an influential player in the European Parliament and the Council of the European Union.
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The UK was a major player in the EU which served as both an asset to the Union, but also a hindrance to those who supported a direction firmly opposed by the British government. Now the British are going, Europe can find a new élan.Ĭhristine Lagarde, Director of the IMF, The years are over when Europe cannot follow a course because the British will object. Withdrawal of the United Kingdom from the European Union
#British exit eu affectus markets series
Comparison (2018)Įuropean Union (without the United Kingdom)īudget Part of a series of articles on Eurostat data suggests that there would otherwise have been a net increase over the same period. īrexit resulted in the EU experiencing a net population decrease of 13% between 1 January 2019 and 1 January 2020. In 2018, the UK had the fifth highest nominal GDP in the world and the second largest in the EU.