Global Friday Presents

Dr. Paul Schure
Associate Professor
Department of Economics
University of Victoria

ABSTRACT:

In a referendum held on Tuesday 23 June 2016 the people in the United Kingdom (UK) voted that their country leave the European Union (EU). Many have tried to answer the “why” question: why did almost 52% of the eligible voters vote to leave the EU? In this presentation I will focus on another question: what are the likely implications of the Brexit vote? I will first briefly discuss whether a Brexit is likely to actually happen. After that I turn to the possible implications of a Brexit for the UK itself as well as for the EU, focusing on two questions in particular: (i) What will the EU-UK trade relations look like? And (ii) what will Brexit mean for the Financial Services industry in the UK? These topics concern the future and therefore appear to involve a lot of speculation and guesswork. However, my goal is to discuss some of the considerations behind the economic and political choices that the UK and EU officials would need to make during the process that would ultimately culminate in the Brexit.

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Global Friday gratefully acknowledges funding from the Dean of CASHS