Publication Date

2020

School

School of Business

Major

Business: Economics; Business: International Business

Keywords

Brexit, economic separation, crisis avoidance plans, European Union, United Kingdom

Disciplines

Business

Abstract

Abstract

This paper covers the viable options that the United Kingdom may take to avoid economic and political crisis as they exit the European Union. There are several benefits and detriments to the exit. Some benefits include economic and political freedom from a slowly degrading system and increased options for global expansion. Detriments include loss in Foreign Direct Investment and trade with their larger European Union partners. The options as they exit are to either join the European Economic Area or leave with no deal and set up trade agreements later. This paper draws on recent studies on the effects of Brexit on economics and politics and uses those studies to decide the least damaging option for the United Kingdom.

Post-Script: Currently, England still faces many issues presented in this paper; however, as Brexit officially happened on January 28th, 2020, England does face a declining economy amidst the backlash from the official leave. Their current deals are still in effect until the end of 2020, and England will need to determine how they will approach future deals with the European Union.

Keywords: Brexit, economic separation, crisis avoidance plans, European Union, United Kingdom

Comments

This paper only covers years 2016 through February 2020. It does not include thoughts, opinions, or research relating to the United Kingdom post COVID-19 crisis.

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