The Brexit Scare: Why wasn’t Brexit as Consequential as Anticipated?
Currently, there is little scholarship surrounding the economic and political implications on other European Union (EU) nations in the aftermath of Brexit. Despite many dire predictions, we are yet to see any kind of appreciable drop in commerce between the UK and the three largest EU economies in the wake of Brexit. These results contradict the pre-Brexit theories of many who believed the UK and its major trade partners would suffer greatly. By analyzing the health of these economies and comparing it to the research done surrounding Britain's post-Brexit economy, we can analyze the importance or lack thereof, the European Union has on the economies within it. With great emphasis on the suffering that was expected pre-Brexit, it is imperative to understand why there were minimal economic repercussions despite expectations and how this could lead to further fragmentation of the European Union.
Brexit, United Kingdom (UK), European Union (EU), Fragmentation