Impact of Brexit

Courtesy of Geopolitical Futures:

"Following the 2008 crisis, the integration of eurozone economies showed its vulnerabilities. Taking into account that eurozone consumption has dropped since 2008 while financial and socio-economic distress has increased, eurozone countries prefer to trade with non-eurozone markets with which they have limited integration – and therefore less contagion risk. This makes Germany more interested in the British market than vice versa. While the eurozone has to deal with questions surrounding the future of its common currency, this has never been a concern for the U.K. Still, the hurdles of trading with eurozone members caused British exporters to look for other markets even before the 2008 crisis. This prepared them for the post-2008 drop in continental European consumption. By then, British companies had already increased their exports to non-EU markets and continued to do so. Because of this, it’s likely that Brexit will not have a dramatic impact on the U.K.’s economy."