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.
The Dutch advisory council for international affairs AIV expects that a trade agreement with the United Kingdom will not be possible within the first two years of the Brexit. In a recommendation to the yet-to-be-formed new Dutch government, the council advocates for a transitional period after the UK's official departure from the European Union, ANP reports.
If the Brits decide to leave the European Union, it will cost the Netherlands up to 10 billion euros in the period to 2030, according to the Central Planning Bureau. The Netherlands is one of the U.K.'s major trading partners and will therefore be hit harder by a so-called Brexit than other EU countries
Should the United Kingdom decide to leave the European Union, the number of Dutch companies that go bankrupt could increase by 2.0 to 2.5 percent, according to estimations from credit insurer Euler Hermes. The Brexit could also dampen economic growth in the Netherlands over the next three years - the economic growth will be 1.5 to 2.4 percent lower