Three Thoughts on Brexit
5 Pages Posted: 25 Nov 2016 Last revised: 23 Dec 2016
Date Written: November 25, 2016
This short article addresses three points on Brexit: first, although the European Union (EU) has been around for 60 years, how is it that it is only now that everyone is talking about Brexit, Frexit, et cetera? Second, what’s next in UK-EU trade relations after ‘B-day’? And third, Brexit is more than just trade. It concludes with possible solutions moving forward: a free-trade agreement between the UK and the EU with access to the single market but without free movement of persons would be the most sensible option for the UK-EU trade relations post-Brexit; another proposed solution is to have a Europe a’ deux vitesses.
Keywords: Brexit, Frexit, Article 50 TEU, free-trade agreement, European Economic Area, European Free Trade Association, World Trade Organization, customs union, Comprehensive Economic and Trade Agreement
JEL Classification: F1, F13, F16, F55, F62, F66, K33
Suggested Citation: Suggested Citation