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The future of European integration and Brexit: Is Brexit only Brexit?

Author

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  • Bruno Dallago

    (Department of Economics and Management, University of Trento, Italy)

Abstract

The consultative referendum held on June 23, 2013, showed that a majority of British voters are in favour of leaving the EU. Markets reacted and adapted, and politics made the first steps towards a UK outside the EU and an EU without Britain. This paper looks at the expected effects of Brexit in different fields: political and social effects, consequences for production and trade, and financial and fiscal effects. It then presents the institutional process of leaving the EU, stressing its indeterminacy, and considers the first steps undertaken so far. It concludes that the EU negotiation position is weak because of its internal problems and calls for the priority given in reforming the EU.

Suggested Citation

  • Bruno Dallago, 2016. "The future of European integration and Brexit: Is Brexit only Brexit?," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 66(supplemen), pages 111-136, December.
    • Handle: RePEc:aka:aoecon:v:66:y:2016:i:supplement1:p:111-136
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    File URL: http://www.akademiai.com/doi/pdf/10.1556/032.2016.66.S1.7
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    Citations

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    Cited by:

    1. Bruno Dallago & Stephen Rosefielde, 2019. "The strange fate of Brexit and Grexit and the Eurozone: Integration and disintegration," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 13(1), March.

    More about this item

    Keywords

    European Union; Britain; European integration; political and social effects; foreign trade; single market;
    All these keywords.

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • F15 - International Economics - - Trade - - - Economic Integration
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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