Gabriel Felbermayr warns the EU of underestimating the consequences of a Brexit.
Excerpt from the Article
(...) The importance of the British role in the EU has been underestimated and Brexit will have heavy consequences on the bloc, Gabriel Felbermayr, president of the Kiel Institute for World Economy, said. The new head of the Germany-based think tank said: “Brexit is economically worth as much as the exit of the 19 smallest countries. You have to understand Brexit as the sum of 19 small farewells from the European Union, which will dramatically change the nature of the community."