There have been discussions about the United Kingdom exiting from the European Union for a while now. Most of us know that the European Union is not doing that great when it comes to the economy. Many EU countries have been suffering from economic slowdown for years. Greece has been in financial ruins for years now, France is not doing so good either, Germany, Netherlands and rest of the Europe are affected by the counter-sanctions imposed by the Russian Federation.
The United Kingdom has been doing better financially compared to its other EU counterparts. Britain has realized that it’s contributions to be part of the European Union is costing them much and they have been contemplating to move away from the European Union for a while now. Popularly terms as Brexit, if Britain decides to split from the EU, the overall financial situation if the Union is going to be impacted. At the same time, it will lead to companies operating from Britain to lose unregulated access to the European Market. It is also worth noting that if Britain decided to exit the European Union, Scotland may again call for a referendum to separate itself from the United Kingdom, triggering a scenario where other territories may also follow suit.
Such eventualities may lead to Britain-based companies lose access to market and suffer financial losses. Britain is the home for many Bitcoin and Fintech companies as London has been trying hard to become the financial capital of not just EU but the whole world. Until now, London offered favorable regulations and access to vast European markets for these companies. If Britain moves away from EU, then these companies will end up losing the only advantage they have had compared to their counterparts in other regions.
The threat of Brexit has got many companies, […]
