A HARD BREXIT TO COST ROMANIA 413 MLN. EURO ANUALLY / BOGDAN TUDORACHE - / ENERGYNOMICS.RO


25.03.2019
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.

ALSO READ Brexit postponed, but no later than May 22nd

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.

25.03.2019 · ROMANIA