Published On: Thu, Apr 18th, 2019

Brexit news: EU faces ‘grim outlook’ with countries TRAPPED in bloc | UK | News

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Economist Richard Wellings, the acting research director at the Institute of Economic Affairs, has said the European Union will “unfortunately limp on”. Speaking to, Mr Wellings said the UK is in a “uniquely favourable position” to leave the Brussels bloc. He explained: “That’s because compared to every other country in the EU it does an awful lot more of its trade with the rest of the world, rather than with other EU Government.

“I mean, if you imagine the difficulties of, say, one of the central European countries and difficult it would be for them to leave the EU.

“Of course, nearly all their trade is done with their EU neighbours. Maybe they are reliant on big EU subsidies in the way that the UK isn’t.

“Of course, the UK is a big net contributor. So, for other countries, it is very difficult indeed to leave.”

The Brexit-supporting economist warned the EU could end in a “Japan-type situation”, adding: “It’s where failed policies continue and the EU elites say the solution is more and more centralisation, which just makes things worse and they continue to pile on more and more red tape.

“That makes the EU less and less competitive compared with the rest of the world and it just kind of limps on.

“Of course, like Japan, the demographics are appalling with rapidly ageing populations which just makes things worse and puts more upwards pressure on taxes as well.

“So, I think at least in the medium term it quite a grim outlook.”

Pro-European candidates are set to suffer a hammering at the European elections in May as a shock study reveals more than half of the electorate have lost faith in the EU.

The European Council of Foreign Affairs has warned would-be MEPs there could be as many as 97 million swing voters to convince ahead of May 23-26 ballot.

According to the in-depth study, 54 percent of voters will have “no faith in politicians and political systems at both a national and European level” or “would like to see a reparation of power from Brussels”.

One of the study’s authors, Susi Dennison, has warned that EU politics finds itself in a “highly precarious moment of system failure”.

The think tank collected data, alongside pollsters YouGov, from 46,000 participants across 14 member states, between January and February 2019 which make up 80 percent of the European Parliament’s seats, finding that 57 percent of participants are unlikely to cast their vote.

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