Does the EU Care if the UK Leaves?

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The EU tax authorities certainly have an eye on the matter. Over the past few years, they have been diligently working to address the UK's tax havens. As a result, new regulations are due to come into force on January 1, 2020.

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These efforts are not appreciated by the wealthy tax dodgers who constitute a significant portion of the 90,000 who voted for Boris Johnson. This is why they are eager to be free of the EU's regulations by the October 31 departure date.

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It is quite humorous to think about it. The 17 million who voted to leave believed that Brexit was in their best interest. Hence, it did not bother them that a no-deal Brexit would result in:

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So, it is understandable that people are questioning the rationale behind such a decision.

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EU Attitude Towards Brexit

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Most of the people within the EU have moved on. In fact, many are so frustrated that they are hoping to see the UK leave the EU, despite the clear disadvantages that come with it. The political leadership of the EU, although more concerned, also hope that the matter will be resolved soon without making them responsible for negative outcomes.

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At this moment, we have accepted that Britain will leave without a withdrawal agreement and are prepared to face the consequences. Britain, on the other hand, is behaving like a spoiled child who wants things its way but then cannot face the repercussions of its decision. The EU has had to move on, and most member states are not impressed with the UK's behavior.

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Impact of UK's Departure on Trade Relations

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Yes, the UK leaving will hurt both the UK and the rest of the EU. The EU would have preferred the UK to remain, but with the UK's current attitude and behavior, the EU is eager to see the UK leave. The UK will lose access to the EU market, which is the world's largest trading bloc, while the EU will lose one of its key trading partners.

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The economic implications are significant. The UK accounts for around 4% of the EU's GDP, and the EU contributes to 11% of the UK's GDP. Trade deals, investment opportunities, and economic ties will be severely affected. The new trade agreements and treaties will take years to negotiate and finalize.

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Concluding Thoughts

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The EU's stance on the UK leaving the union is clear. While some may wish to see the UK remain, the primary focus is on moving forward without excessive delay or unnecessary complications. The UK's decision to leave, with or without a deal, has left the EU in a position where they must adapt and adjust their strategies to remain competitive in the global market.

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For now, the EU is prepared to face the challenges that Brexit will bring. They will work towards maintaining the integrity of the EU while also positioning themselves to take advantage of new trade opportunities and strengthen their economic relations with other countries.

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