05 Sep 2016

The Post-Brexit European Union



The journal Intereconomics, published bi-monthly by CEPS and the Leibniz Information Centre for Economics (ZBW), features articles dealing with economic and social policy issues affecting Europe.  Each issue contains a Forum section offering an in-depth exploration of a selected topic. All contributions to the Forum section in each issue, as well as the Editorial, are available for free downloading from the CEPS website at the links below (for full content, see www.intereconomics.eu). The September-October 2016 issue looks at the consequences of the Brexit vote.

Abstract: It is no understatement to categorise the UK’s decision to leave the European Union as one of the biggest geopolitical events in modern European history. On 23 June 2016, a slight majority of 52% of the UK’s voting citizens decided to opt for isolationism and protectionism over globalisation and the free movement of goods, services and people. The European project has never suffered a setback like this, and questions over the very future of the project must be asked in the wake of this reality in which one of the EU’s major powers has decided to opt out. Although history is currently being rewritten with the bene? t of hindsight, portraying Brexit as an inescapable inevitability since the UK ? rst entered the EEC in 1973, it is important to remember how much of a shock the result was at the time. While it is too soon to expect detailed studies on the full consequences of Brexit, the situation can be analysed using the data we already have: the economic and legal framework that exists between the UK and the EU. Through this lens, we can look at the possible future relationship between the two actors and perhaps better understand how they grew apart. This Forum examines Brexit from a variety of angles, ranging from London’s status as the ?nancial centre of Europe to intra-EU migration to the very future of the European project.

AuthorsSinan Ülgen, Paul De Grauwe, Carlos Vargas-Silva, Karel Lannoo, Matt Qvortrup and Leonard Burman

Editorial: New Models of Economic Integration for Turkey and the UK

By Sinan Ülgen

Forum: What Future for the EU After Brexit?

By Paul De Grauwe

Forum: EU Migration to and from the UK After Brexit

By Paul Carlos Vargas-Silva

Forum: EU Financial Market Access After Brexit

By Karel Lannoo

Forum: Brexit as an Inelastic Good: A Microeconomic Theory of Direct Democracy

By Matt Qvortrup

Letter from America: The US Presidential Candidates and the Economy

By Leonard Burman