No wonder the EU is desperate to extend Transition and stop Brexit
EU official: Brexit hits the EU harder than 18 member countries leaving at once
© Brexit Facts4EU.Org 2020
The EU’s economy shrank dramatically when the UK left on 31 Jan 2020
All world economies are going to drop as a result of the Coronavirus measures in various countries. Even those countries who have used ‘light-touch’ measures are affected by the drop in demand from countries such as the United Kingdom, which went for full lockdown based on a now-discredited report by Imperial College London.
However the EU is facing a far bigger overall drop in their economy,
because they lost the UK as a member.
They just don’t want to admit it to anyone.
As we reported on Saturday, the EU published a press release last week based on its GDP figures for last year, 2019.
Here we show the effect on the EU in graphical terms. Brexit Facts4EU.Org was the first to make this comparison some years ago, and we're pleased to say that this has subsequently been picked up by MPs in Parliament and elsewhere. This is our latest update.
Brexit Facts4EU.Org Summary
The overnight cut in the EU’s economy
The EU’s press release shows two things, when looking at the raw data behind it
- The departure of the UK has reduced the EU’s economy by more than if 18 EU member countries had left at once
- It’s as if the “EU28” became the “EU10” - overnight
- The EU is not keen to advertise this, so we show the detail below
© Brexit Facts4EU.Org - click to enlarge
The EU’s data shows an immediate 15.3% drop in the overall size of the EU economy following Brexit. This matters when countries around the world look at the EU. The EU is certainly not what it used to be. These figures are all based on the EU’s own figures for GDP in all 28 member states in 2019.
- UK’s GDP in 2019: €2.52 TRILLION
- This is now lost to the EU
- The COMBINED GDP of the remaining 18 smallest EU countries was less than the UK's, at €2.35 trillion
- The EU’s total GDP, using 2019 figures as they did, has fallen by 15.3%
- This dramatic fall will be compounded by the fall from Coronavirus lockdowns
Brexit is a massive loss to the EU - they just need to admit it
The EU's press release last week gave wholly incorrect percentages for the relative sizes of each EU economy, for the simple reason that they completely omitted the United Kingdom from their figures.
This is despite the fact that the UK was still a full member of the EU throughout 2019, was continuing to bankroll the EU as one of the few countries which are net contributors, and was in fact the second-largest economy in the EU for all of 2019.
This is simply staggering propaganda, worthy of the former Soviet Union. It should also be noted that the United Kingdom continues to bankroll the EU in 2020 as one of the few countries which are net contributors, despite supposedly having left on 31 January 2020.
Back at the end of June 2016, all other Brexit organisations had gone away. They felt the battle had been won. At Brexit Facts4EU.Org we were alone in continuing to publish daily, convinced that the Remainer Establishment would reorganise and attempt to defeat Brexit via undemocratic means.
We were right and that is exactly what happened. We fought on and eventually some Brexit organisations came back to join in the fight.
Today we simply want this thing over with. We want to go back to our lives after almost five years of struggle. We would like to earn reasonable incomes again. It’s our sincere hope that we will be able to do this from 01 January 2021, if the United Kingdom has fully exited the Transition Period and is once again a free and independent country.
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[ Sources: EU Commission's official statistics agency, Eurostat ] Politicians and journalists can contact us for details, as ever.
Brexit Facts4EU.Org, 12 May 2020
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