Assessing the Costs and the Benefits of Brexit for the United Kingdom and the European Union

Abstract

The aim of this study is to assess the costs and the benefits of Brexit for both the EU and the UK. This study presents an overview on the process of creating the EU in addition to the evaluation of the underlying concerns behind Brexit vote. It also states the reasons behind accepting the demand of the UK in addition to the China factor. Moreover, it analyses the benefits and the costs of Brexit for the UK on four main domains trade, immigration, foreign direct investment and the uncertain future of the UK. Furthermore, it assesses the costs and the benefits of Brexit for the EU on substantial sectors international influence, budget, industrial policy, financial services and insurance sector in addition to its political implications on the political scene of the EU and post-Brexit alternative arrangements.