Sunday, December 11, 2016

UK economy preparing for Brexit

Nearly a half year passed after Brexit vote. The UK is still struggling to prepare for the coming gigantic change in the post-Brexit era.

Interestingly, the economy of the UK has not worsened so much after Brexit. The UK's gross domestic product showed an increase by 0.5 percent in this third quarter. It was above the forecast by Reuters.

The Irish Times: UK economy continues to grow despite Brexit fears

Theresa May, the Prime Minister of the UK, was not supporting Brexit before the vote. But she seems to plan rather a strict plan for Brexit. Thus, the UK will lose the trading privileges as a member of the EU while it will be able to refuse accepting refugees.

However, many things are still yet to be clarified around Brexit. Other countries such as Italy, which is suspected to be going to drop out from the EU, are watching the situation in the UK with great caution. If the UK  becomes successfully free from the burden of the EU, there will be some following nations. It is quite fearful for the core member of the EU. On the other hand, the falling of the UK will mean damaged presence of Europa, as well as instability of the whole region. It is a dilemma for European countries.

I visited the UK last month. British People I asked about the Brexit were all wondering what will happen the next year. The future is in the mist.

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