The Economic Consequences of Brexit
Many in the UK claim that, outside the EU, their country could quickly negotiate a bespoke agreement with the EU that offers all the benefits of membership and none of the costs; strike better trade deals with other countries; and reap huge benefits from scrapping EU regulations. These arguments border on delusion.
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LONDON – Those campaigning for Britain to exit the European Union claim that doing so would make their country both freer and richer. They assert that after “Brexit”, the UK could quickly negotiate a bespoke agreement with the EU that offers all the benefits of free trade without the costs of EU membership; strike better trade deals with other countries; and reap huge benefits from scrapping burdensome EU regulations. But this is a delusion.