UK

How expensive is the Brexit?

The British people will vote at the end of June about the whereabouts in the EU. In the run-up associations and rating agencies to warn of the devastating financial consequences of an exit for the British.

Car manufacturers, food industry, manufacturing and the services sector – almost the entire economy would be drawn in the case of an exit from the EU – the so – called “Brexit” – in affected. According to a report by the rating Agency Moody’s. The credit rating of these industries meet. This is likely to be after a “Brexit” is much worse, because such a step would lead to continued uncertainty. Companies could borrow then serious money. The investments decreased for the first time, to the actual effects on trade, regulatory and labour costs are foreseeable.

A pro-Brexit campaign in London. In surveys, EU-supporters and opponents are in the Kingdom of head-to-head; up to 20 percent of voters are still undecided.

23. June will be voting on the British about the whereabouts in the EU. A spin-off could drag on over two or more years. Moody’s assumes that in this transitional period, alternative arrangements will be closed and businesses adjust to the new environment.

A study commissioned by the UK industry sees something different. “Even in the best case would be a serious shock to the British economy”, says the managing Director of the industry Association, CBI, Carolyn Fairbairn.

The bottom line is that “Brexit could cause” up to the year 2020, for a cost of just under 130 billion euros of the 950,000 jobs, endanger, according to the study, prepared by the consulting company PwC for the industry Association.

Consequences for the city of London

Also for the UK major banking sector would remain intact. The law firm Clifford Chance, comes to the conclusion that a departure from the EU for banks and investment firms “as a result of new restrictions on cross-border transactions likely to be significant adverse consequences”.

The European financial market Association, AFME commissioned study sheds light on the opportunities for international banks. Money houses, such as JPMorgan, Morgan Stanley and Goldman Sachs have their European Headquarters in London. In the event of a “Brexit” would lose their EU laws regulated business opportunities in other European countries.

Nm/bea (dpa, afp, rtr)