Brexit more damaging to Netherlands than expected: Rabobank

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The Union Flag on the Palace of Westminster in London (Photo: Ввласенко/Wikimedia Commons). The Union Flag on the Palace of Westminster in London (Photo: Ввласенко/Wikimedia Commons)

If the United Kingdom leaves the European Union without a trade treaty, a so-called hard Brexit, the cost to the Netherlands can amount to some 4 thousand euros per working Dutchman, economists at Rabobank calculated on Thursday, NU.nl reports.

A hard Brexit will mean that the Dutch economy will miss out on 4.5 percent growth until 2030, according to the economists. In total that damage can amount to 35 billion euros. If the UK signs a free trade treaty before leaving the EU, the economists expect a loss of about 3 percent GDP growth for the Netherlands. Still a significant amount.

The Netherlands and Great Britain have an intensive trade relationship, which is why the cost of the Brexit is so high for our country. 

The consequences for Great Britain itself will be even worse, according to the Rabobank economists. Without a trade treaty, the damage to the UK economy may amount to 450 billion euros by 2030 - around 13,500 euros per working Brit. 

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