Brexit’s Biggest Loser Won’t Be Britain

Brexit’s Biggest Loser Won’t Be Britain

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by: Jayson Derrick, Benzinga Staff Writer

 

Forty-two (42) percent of British people surveyed one month after the "Brexit" vote expressed feelings that the country's decision to leave the European Union was a bad one for the economy. But by March 2017, this figure gained more than 10 percentage points and totaled 53.0 percent.

It may or may not be of any comfort to the people of Britain, but according to a Bloomberg report, the biggest loser from Brexit will be another country: Poland. The country is the largest net recipient of aid from the EU and also happens to be the largest provider of cross-border labor.

Once Britain officially parts way with the EU, the country will be investing money back into its own domestic services, which naturally means countries like Poland might receive less aid.

 

Poor Poland

Poland relies on external aid to build its infrastructure, including water treatment, roads and airport facilities. It is also unclear what would happen to the nearly one million Poles living and working in Britain.

"It's obvious that Brexit is crucially important to us," Deputy Foreign Minister Konrad Szymanski told Bloomberg in an interview in Warsaw. "If we don't carry it out well, it will harm the internal market. And it will probably be difficult to coordinate on residency issues because the stakes are uneven."

Needless to say, Poland's $477 billion economy could be left behind and feel the pain from Britain's divorce with the EU.

 

 

© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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