Ireland and the Netherlands have the fiscal space to cushion the blow of Brexit, but Belgium has less room to act
lorries are ferried between Rotterdam’s port and Britain every day. They roll on and off the boats, carrying much of the 54m tonnes of goods that are traded between the Netherlands and Britain each year. The precise form of Brexit is still being wrangled over in Westminster. But unless Britain decides to stay in theTruckers might need to ensure that their cargo has the right paperwork, or risk being turned away at the port.
The countries with the closest trading ties with Britain include Belgium, Ireland and the Netherlands. According to thein 2014-16, and those of Belgium and the Netherlands nearly 10%. All three also rely relatively heavily on imports from Britain. Ireland and the Netherlands are intertwined with Britain in other ways too. Thanks to history and geography, migrant flows between Ireland and Britain are large, equivalent to nearly a fifth of the population of Ireland. The Netherlands is a big investor in British business: its stock of foreign direct investment in the country was equivalent to an average of almost 80% of DutchIrish and Dutch financial firms have relatively high exposures to British borrowers.
Larger countries are better insulated, but certain sectors are still exposed. A study by Hans-Ulrich Brautzsch and Oliver Holtemöller for the Halle Institute of Economic Research finds that 15,000 jobs in Germany—around 1% of employment in its car industry—depend either directly or indirectly on exports to Britain.analysts note that Spain is most exposed through its ownership of banks, telecoms and insurance firms in Britain.as a whole would be modest, provided a deal is struck.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Opinion | Brexit hasn’t even happened, yet Ireland is already seeing signs of the economic tollOpinion: Brexit hasn’t even happened, yet Ireland is already seeing signs of the economic toll
Read more »
Brexit Woes Dim Northern Ireland Property MarketUncertainty over Brexit is spilling into the commercial real-estate market in Northern Ireland, which looks especially vulnerable to an adverse outcome of the U.K.’s exit negotiations with the European Union.
Read more »
No-deal Brexit is 'simply crazy' - Irish EU commissionerA 'no-deal' Brexit makes no sense and is the worst possible Brexit out...
Read more »
Europe’s small, open countries brace for BrexitIreland, the Netherlands and Belgium are most exposed
Read more »
Theresa May accused of breaking Good Friday Agreement with Brexit 'settled status' schemeThe UK government has been urged to clarify immigration rules for Irish citizens born in Northern Ireland ahead of Brexit which could threaten the terms of the Good Friday Agreement.
Read more »
Macron tests German patience in split over Brexit delayThe 'De Gaulle moment' that many had speculated about before Wednesday...
Read more »
UK PM May defends Brexit delay, critic asks her to resignBritish Prime Minister Theresa May defended her decision to delay Brexit and see...
Read more »
Business Uncertainty Continues as Brexit Deadline Is Pushed BackAnother Brexit delay takes the pressure off the U.K.’s warring politicians to come to swift agreement on the terms of the country’s withdrawal from the European Union, extending a spell of uncertainty plaguing businesses and hobbling the wider economy.
Read more »