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BREXIT: CONSEQUENCES
By
HELMUT SCHNABEL,
chairman Associaon of Chief Financial Officers Germany, the German IAFEI Member
Instute, presentaon given at the board of directors meeng of IGTA, Internaonal Group of Treasury
Associaons, in Dublin, Ireland, September 17, 2016
ECONOMIC AND BUSINESS CONSEQUENCES - POLITICAL CONSEQUENCES - CULTURAL CONSEQUENCES
Preface: Some economic and other facts, to be borne in
mind:
The 28 member countries European Union, including
Great Britain ( Britain ) has a populaon of 508 million
people. Britain with a populaon of 65 million, or 13 %
of this, is the third largest member country in terms of
populaon (Germany with 81 million inhabitants being
the largest, France with 66 million inhabitants being
the second largest).
The 28 member countries European Union has a GDP
2015 of 14.272 billion €. Of this, Britain with a GDP pf
2.569 billion € represents the second largest economy
of the EU ( Germany with 3.026 billion € being the
largest economy, France with 2.184 being the third
largest, Italy with 1.636 billion € being the fourth
largest.).
In world and GDP terms, Britain is the fi"h largest
economy ( behind USA, China, Japan, Germany ).
Trade 2015 between the 27 member countries of
the European Union and Britain is huge: 301 billion €
imports from the 27 EU member countries ( = 53 % of
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EUROPEAN UNION