28 September 2017

L'Echo: What would a hard Brexit mean for small countries?

L'Echo argues that in relative terms, it will be small EU countries like Ireland, Malta, the Netherlands and Belgium that would have the most to lose from a hard Brexit when compared to countries such as Germany.

The article refers to three Belgian economists, who compared what impact a 'hard' and a 'soft' Brexit would have on various EU countries. In case of a hard Brexit, they claim that Belgium could lose up to 42,000 jobs and the EU up to 1,2 million jobs. With a hard Brexit, tariffs under WTO rules would be reintroduced between the UK and the EU member states. When looking at different industries within Belgium, the food industry would be hit the hardest by Brexit. 

The article in French: La facture belge d'un Brexit dur? 42.000 emplois

Translation and sourcing by European Movement International

© L'Echo