Study: Proposed referendum on United Kingdom membership of the European Union would cost the UK £ 100 billion – Times Online

In a withdrawal from the EU are threatening Britain’s economy According to a study massive financial losses and job losses. By 2020, the costs could on £ 100 billion sum (128 billion euros) and 950,000 jobs lost, revealed a study by the auditing company PwC on behalf of the industry association CBI.

The savings from a so-called Proposed referendum on United Kingdom membership of the European Union would nullified by the negative consequences for trade and investment by far, said CBI Managing Director Carolyn Fairbairn on Monday. This let not be avoided, even if the UK is negotiating new trade agreements with the former EU partners. “Even in the best case there would be a severe shock to the British economy,” says Fairbairn.

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The banks in London would one exit hard. The money houses threatened a long period of uncertainty, resulted in a submitted on Monday investigating the law firm Clifford Chance on behalf of the European financial market association AFME. For at first are the economic relations of the country’s former EU partners unclear. This will affect the business plans of market participants. “On banks and investment firms come as a result of new restrictions on cross-border transactions likely significant adverse consequences,” according to the authors. This risk also listed companies and securities settlement houses are confronted.

Many major international banks such as JPMorgan, Morgan Stanley and Goldman Sachs have their European headquarters in London. In case of Brexits they would lose their regulated on EU laws business opportunities in other European countries. The question is how quickly this problem can be solved with new trade agreements Britain.

The British vote on June 23 of their whereabouts in the European Union from. According to surveys, the views are split. The percentage of EU supporters is like the enemy at about 40 percent, the rest is undecided.